Fit a straight line trend by the method of least squares to the followingdata :Production of TV sets(in '000)YeaProduction of TV setsYear(in '000)200717201335200820201455200919.201550201026.201674201124201769201240Estimate the production for 2022.

By secular trend mean smooth secular trend observes over a long period of time. Smoothing…

Answered: Fit a straight line trend by the method…

Elementary Linear Algebra (MindTap Course List)

8th Edition

ISBN:9781305658004

Author:Ron Larson

Publisher:Ron Larson

Chapter5: Inner Product Spaces

Section5.CR: Review Exercises

Problem 62CR

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Fit a straight line trend by the method of least squares to the following data : Yea Production of TV sets Year Production of TV sets (in '000) (in '000) 2007 17 2013 35 2008 20 2014 55 2009 19 2015 50 2010 26 2016 74 2011 24 2017 69 2012 40 Estimate the production for 2022.