Hudson Marine provides boat sales, service, and maintenance. Boat trailers are one of its top sales items.
Question:
Hudson Marine provides boat sales, service, and maintenance. Boat trailers are one of its top sales items. The following table reports the number of trailers sold for the last seven years.
a. Construct a time series plot. Does a linear trend appear to be present?
b. Using statistical software, develop a linear trend equation for this time series.
c. Use the linear trend equation developed in part (b) to develop a forecast for annual sales in year 8.
Transcribed Image Text:
Year 1 2 3 4 5 6 7 Number Sold 35 50 75 90 105 110 130
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a b The regression output follows Coefficients Term Coef SE Coe...View the full answer
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Related Book For
Statistics For Business & Economics
ISBN: 9781337901062
14th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
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