Question: QUANTITATIVE FORECASTING MODELS Simple Linear Regression Analysis: A Time Series Specific Motors produces electric motors for power-actuated valves for the construction if dustry. Specific's

QUANTITATIVE FORECASTING MODELS Simple Linear Regression Analysis: A Time Series Specific Motors produces electric motors for power-actuated valves for the construction if dustry. Specific's production plant has operated at near capacity for over a year now. Jim White, the plant manager, thinks the growth in sales will continue, and he wants to develop a long-range forecast to be used to plan facility requirements for the next 3 years. Sales records for the past 10 years have accumulated: Annual Sales (thousand of Year Units) 1 1.000.00 2 1,300.00 3 1,800.00 4 2,000.00 5 2,000.00 6 2,000,00 72.200.00 8 2,600.00 9 2.900.00 10 3,200.00 Required: a. Construct the table for the formulas for X and XY b Solve the values of a and b e. Make a regression equation that can be used to forecast future years' sales. d Using the regression equation for X for the next three years.

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