Question: Sales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to complete this

Sales over the past 10 years are shown below.

Sales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to complete this regression equation. What is your forecast for next year's sales? Year 1 2 3 4 5 Sales 1,790 1,010 1,840 1,160 1,960 1,390 1,530 1,600 1,510 1,030 6 7 8 9 10 (Do not round intermediate calculations and round your answer to 3 decimal places.) Sales= (24.242) * + (Do not round intermediate calculations and round your answer to 2 decimal places.) Sales=

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!