Question: The actual demand data over the past seven weeks for a new product are shown below: Week Actual Demand 7 weeks ago 423 6 weeks

The actual demand data over the past seven weeks for a new product are shown below:

Week Actual Demand
7 weeks ago 423
6 weeks ago 425
5 weeks ago 422
4 weeks ago 430
3 weeks ago 428
2 weeks ago 435
1 week ago 440

a. Plot the weekly demand data using a software OR on a sheet of graph paper. b. Use TREND PROJECTIONS method to determine the equation of the trend line estimating the linear relationship between time (in weeks) and demand (in units sold). c. Use the equation of the trend line to predict demand for THIS WEEK. (Hint: Seven weeks ago will have a value of 1 in the equation of the trend line, and by the same logic One week ago will have a value of 7 in the equation of the trend line.)

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