Suppose a firm has had the following historic sales figures. Year: 2016 2017 2018 2019 2020 Sales $2,570,000 $3,750,000 $4,380,000 $5,010,000 $5,520,000 What would be the forecast for next year’s sales using regression to estimate a trend?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 10PPS
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Suppose a firm has had the following historic sales figures.

Year: 2016 2017 2018 2019 2020

Sales $2,570,000 $3,750,000 $4,380,000 $5,010,000 $5,520,000

What would be the forecast for next year’s sales using regression to estimate a trend?

 

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