Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to find this

Sales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to find this regression equation.

Year Sales
1 1,670
2 1,980
3 1,510
4 1,660
5 1,700
6 1,320
7 1,000
8 1,930
9 1,670
10 1,010

(Indicate a negative answer using a "-" sign. Do not round intermediate calculations and round your answer to 3 decimal places.)

Sales=Answer + Answerx What is your forecast for next year's sales?(Do not round intermediate calculations and round your answer to 2 decimal places.) Sales=Answer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

From Calculus To Analysis

Authors: Steen Pedersen

1st Edition

3319136410, 9783319136417

More Books

Students also viewed these Mathematics questions

Question

Describe voluntary benefits.

Answered: 1 week ago

Question

Describe the major job evaluation systems.

Answered: 1 week ago