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  book-img-for-question

Statistics For Business And Economics

ISBN: 9780324783247

11th Edition

Authors: Thomas A. Williams, Dennis J. Sweeney, David R. Anderson

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