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The sales by Walker's Milk and diary products, in millions of dollars, for the seven-year period from 2014 to 2020 are reported in the following
The sales by Walker's Milk and diary products, in millions of dollars, for the seven-year period from 2014 to 2020 are reported in the following table.
Years | Sales ($ millions) |
2014 | 16.6 |
2015 | 18.3 |
2016 | 20.9 |
2017 | 22.3 |
2018 | 23.5 |
2019 | 25.0 |
2020 | 27.1 |
a) Determine the least squares trend equation.(Round the final answers in millions of dollars to 2 decimal places.)
Y' = ----- + ----t
b) Estimate sales for 2015.( Round the intermediate calculations and the final answers in millions of dollars to 2 decimal places.)
For 2015, sales = ------- ($million)
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