QUANTITATIVE FORECASTING MODELS Simple Linear Regression Analysis: A Time Series Specific Motors produces electnc motors for power actuated valves for the construction Justry. Specific's production plant has operated at a 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 82.600.00 92,900.00 103,200.00 Required Construct the table for the fomulas for X and XY Solve the values ofa andb 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