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The following chart shows the actual sales for the last 12 months for a given company. Assume that sales are best fit by a linear trend and you can use single linear regression to set up a forecasting model. Using the sales data answer below questions (justify your answers):   A.What would be the typical linear regression equation for the number of sales?    B.Make the sales forecast for period 15 of next year.    C. Make the sales forecast for period 17 of next year.      D. What is the standard error for the data?

The following chart shows the actual sales for the last 12 months for a given company. Assume that sales are best fit by a linear trend and you can use single linear regression to set up a forecasting model. Using the sales data answer below questions (justify your answers):   A.What would be the typical linear regression equation for the number of sales?    B.Make the sales forecast for period 15 of next year.    C. Make the sales forecast for period 17 of next year.      D. What is the standard error for the data?

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter1: Fundamental Concepts Of Algebra
Section1.4: Fractional Expressions
Problem 66E
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The following chart shows the actual sales for the last 12 months for a given company. Assume that sales are best fit by a linear trend and you can use single linear regression to set up a forecasting model. Using the sales data answer below questions (justify your answers):

 

A.What would be the typical linear regression equation for the number of sales?

 

 B.Make the sales forecast for period 15 of next year.

 

 C. Make the sales forecast for period 17 of next year.

 

 

 D. What is the standard error for the data?

 

 

 

90 80 70 60 50 40 30 20 10 0 25 35 Jan Feb Actual Sales for last 12 periods 46 48 52 54 58 61 H Mar Apr May Jun Jul Aug 65 Sep 68 Oct 75 78 H Nov Dec
Transcribed Image Text:90 80 70 60 50 40 30 20 10 0 25 35 Jan Feb Actual Sales for last 12 periods 46 48 52 54 58 61 H Mar Apr May Jun Jul Aug 65 Sep 68 Oct 75 78 H Nov Dec
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