Hudson Marine has been an authorized dealer for C&D marine radios for the past seven years. The
Question:
Hudson Marine has been an authorized dealer for C&D marine radios for the past seven years. The following table reports the number of radios sold each year.
Year 1234 5 6 7 Number Sold 35 50 75 90 105 110 130
a. Construct a time series plot. Does a linear trend appear to be present?
b. Using Minitab or Excel, develop a linear trend equation for this time series.
c. Use the linear trend equation developed in part
(b) to develop a forecast for annual sales in year 8.
Step by Step Answer:
Related Book For
Statistics For Business And Economics
ISBN: 9780324783247
11th Edition
Authors: Thomas A. Williams, Dennis J. Sweeney, David R. Anderson
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