Can you explain linear and non linear trends patterns and give an example of a product that fits all four patterns, meaning linear decreasing trend, linear increasing trend, nonlinear increasing trend and nonlinear decreasing trend. Which ones are easiest to forecast?© BrainMass Inc. brainmass.com October 25, 2018, 4:03 am ad1c9bdddf
Response gives four data sets, four graphs and comments about the pattern for each. Discussion includes why some are easier to forecast.
Linear Trend, Regression and Real-Life Examples
1. Give one example of each of the following:
A) Trend Component. Explain why it is a trend component.
B) Seasonal Component. Explain why it is a seasonal component.
C) Cyclical Component. Explain why it is a cyclical component.
D) Irregular (Random) Component. Explain why it is an irregular component.
2. Give three real life examples of each of the following:
A) Linear trend. Explain why it is a linear trend.
B) Non-linear trend. Explain why it is a non-linear trend.
3. Mr. Samuelson is a car sales associate. He makes a salary of $600 per week. He also earns a bonus of $200 for each car he sells. Write a simple linear regression equation that represents the total amount of money (y) Mr. Samuelson earns in a week when he sells ¿x¿ number of cars.
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