If plotted, the following sales series would appear curvilinear. This indicates that sales are increasing at a
Question:
If plotted, the following sales series would appear curvilinear. This indicates that sales are increasing at a somewhat constant annual rate (percent). To fit the sales, therefore, a logarithmic equation should be used.
a. Determine the logarithmic equation.
b. Determine the coordinates of the points on the logarithmic straight line for 2007 and 2014.
c. By what percent did sales increase per year, on the average, during the period from 2007 to 2017?
d. Based on the equation, what are the estimated sales for 2018?
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a Log Y 0790231 0113669 t b In 2007 t 1 Log Y 0903900 found by 0790231 01136691 ...View the full answer
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Related Book For 
Statistical Techniques in Business and Economics
ISBN: 978-1259666360
17th edition
Authors: Douglas A. Lind, William G Marchal
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