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    Regression and Forecasting : Using Data Regression to Predict Sales

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    YEAR GNP ln(gnp)
    1975 1060 6.966024187
    1976 1170 7.064759028
    1977 1305 7.17395832
    1978 1455 7.28276118
    1979 1630 7.396335294
    1980 1800 7.495541944
    1981 2000 7.60090246
    1982 2220 7.705262475
    1983 2450 7.803843304
    1984 2730 7.912056888

    The US BNP during the years 1975-1984 is given in the above table.

    a. Plot x = years after 1974 against GNP, and use the plot to describe how to fit a curve that could be used
    to predict GNP during future years.

    b. When the regression on transformed data is done, we find the B=6.86 and B1=0.105. What is the
    prediction for 1985 GNP?

    Please see the attached file for the fully formatted problems.

    © BrainMass Inc. brainmass.com October 9, 2019, 5:24 pm ad1c9bdddf
    https://brainmass.com/math/interpolation-extrapolation-and-regression/regression-forecasting-data-regression-predict-sales-56263

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    Solution Preview

    Please see the attached file.

    The regression table can be found on the sheet"regresssion table"

    YEAR GNP ln(gnp)
    1975 1060 6.966024
    1976 1170 7.064759
    1977 1305 7.173958
    1978 1455 7.282761
    1979 1630 7.396335
    1980 1800 7.495542
    1981 2000 7.600902
    1982 2220 7.705262
    1983 2450 7.803843
    1984 2730 7.912057

    The US BNP during the years 1975-1984 is given in the above table.

    a. Plot x = years after 1974 against GNP, and use the plot to describe how to fit a curve that could be used
    to ...

    Solution Summary

    Data regression is used to predict sales. The solution is detailed and well presented.

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