Linear trend estimation
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Please help to build a spreadsheet to figure out the following:
Freight car loadings over an 18-week period at a busy port are:
Week Number
1 220
2 245
3 293
4 275
5 332
6 310
7 350
8 360
9 427
10 380
11 432
12 450
13 477
14 475
15 538
16 510
17 532
18 541
a) Compute a linear trend line for freight car loadings:
Y=___+___t.
b) Use the trend equation to predict loadings for weeks 25 and 26:
The forecasted demand for week 25 and 26 is ____ and ____ respectively.
c) The manager intends to install new equipment when the volume reaches 829 loadings per week. Assuming the current trend continues, the loading volume will reach that level in approximately what week?
It would take approximately _15_ more weeks.
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Solution Summary
This posting carries a linear trend estimation problem and the solution outlines the two methods of estimating a linear trend (see attachment).
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