PLEASE COMPLETE WORK IN EXCEL SPREADSHEET ONLY. SHOW ALL FORMULAS/FUNCTIONS TO SHOW ANSWERS AND EXPLAIN TO ME HOW YOU GOT THE ANSWER. DO NOT WRITE IT DOWN IN A PIECE OF PAPER ONLY EXCEL.

1. Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. The managers are conducting an inventory control study of all their items. The following data are for one such item, which is not seasonal.

a. Use a trend projection to estimate the relationship between time and sales (state the equation).

b. Calculate forecasts for the first four months of the next year.

	1	2	3	4	5	6	7	8	9	10	11	12
Month	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Sales	51	55	54	57	50	68	66	59	67	69	75	73