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Explain linear and non linear trend patterns.

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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?

Solution Summary

Response gives four data sets, four graphs and comments about the pattern for each. Discussion includes why some are easier to forecast.

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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.

[Please see the attached question file].

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