The sales by Walker's Milk and Dairy products, in millions of dollars, for the seven-year period...
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The sales by Walker's Milk and Dairy products, in millions of dollars, for the seven-year period from 2014 to 2020 are reported in the following table. Year 2014 2015 2016 Y' = 2017 2018 2019 2020 Sales ($ millions) $15.6 17.5 20.1 21.0 23.5 a. Determine the least squares trend equation. (Round the final answers in millions of dollars to 2 decimal places.) 25.9 27.7 t b. Estimate sales for 2021. (Round the intermediate calculations and the final answer in millions of dollars to 2 decimal places.) Estimate sales for 2021 ($ million). The sales by Walker's Milk and Dairy products, in millions of dollars, for the seven-year period from 2014 to 2020 are reported in the following table. Year 2014 2015 2016 Y' = 2017 2018 2019 2020 Sales ($ millions) $15.6 17.5 20.1 21.0 23.5 a. Determine the least squares trend equation. (Round the final answers in millions of dollars to 2 decimal places.) 25.9 27.7 t b. Estimate sales for 2021. (Round the intermediate calculations and the final answer in millions of dollars to 2 decimal places.) Estimate sales for 2021 ($ million).
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To determine the least squares trend equation and estimate sales for 2021 we can use linear regressi... View the full answer
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