Question: Given the following data, use least-squares regression to derive a trend equation: Period 1 2 3 4 5 6 Demand 10 11 7 7 9
Given the following data, use least-squares regression to derive a trend equation:
| Period | 1 | 2 | 3 | 4 | 5 | 6 |
| Demand | 10 | 11 | 7 | 7 | 9 | 13 |
Part 2
The least-squares regression equation that shows the best relationship between demand and period is (round your responses to two decimal places):
y=8.59 + 0.26x,
where
y=Demand
and
x=Period.
Part 3
What is your estimate of the demand in period 7?
Estimated demand in period 7 is
enter your response here
(round your response to two decimal places).
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