Product Sales When the points in a scatter plot show a curvilinear trend rather than a linear
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Product Sales When the points in a scatter plot show a curvilinear trend rather than a linear trend, statisticians have methods of fitting curves rather than straight lines to the data, thus obtaining a better fit and a better prediction model. One type of curve that can be used is the logarithmic regression curve. The data shown are the number of items of a new product sold over a period of 15 months at a certain store. Notice that sales rise during the beginning months and then level off later on.
Month x | 1 | 3 | 6 | 8 | 10 | 12 | 15 |
No. of items sold y | 10 | 12 | 15 | 19 | 20 | 21 | 21 |
Using the log key on your calculator, transform the x values into log x values.
Related Book For
Elementary Statistics A step by step approach
ISBN: 978-0073386102
8th edition
Authors: Allan Bluman
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