Sales of a particular product for the years 2017through 2020 have been 47,484, 55,230, 57,412 and75,305 respectively.If you are going to find the sales forecast by usingsimple regression (least squares) method, whatwould be the value of (a) for the regressionequation?

The simple linear regression equation is used to predict the value of response variable using one…

Answered: Sales of a particular product for the…

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter3: Polynomial Functions

Section3.5: Mathematical Modeling And Variation

Problem 2ECP

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Sales of a particular product for the years 2017 through 2020 have been 47,484, 55,230, 57,412 and 75,305 respectively. If you are going to find the sales forecast by using simple regression (least squares) method, what would be the value of (a) for the regression equation?