Question: Based on the linear regression information and equation in the graph below where x represents a time period, what is the forecast for time period
Based on the linear regression information and equation in the graph below where x represents a time period, what is the forecast for time period 5 and what is the forecast error for time period 5 when the actual demand is 225 for time period 5 and 232 for time period 6? The horizontal axis on the graph represents x or a time period and the vertical axis on the graph represents Actual Sales. Select the closest answer.
image with a graph with the equation
y=13.393x+114.5
| Forecast is 3,127.925 and forecast error is 43.535 | ||
| Forecast is 181.465 and forecast error is 50.535 | ||
| Forecast is 181.465 and forecast error is 43.535 | ||
| Forecast is 3,127.925 and forecast error is 0 |
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