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Statistics - Regression and Linear Equations

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1. Consider the following annual sales data for 1996-2003, use the linear regression method and determine the estimated sales equation.

Year Sales
1996 2
1997 4
1998 10
1999 8
2000 14
2001 18
2002 17
2003 20

2. Solve the following system of simultaneous equations.

6x1 + 4x2 = 40

2x1 + 3x2 = 20

Please see attached file for proper formatting.

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Solution Summary

The step-by-step solution explained how to use the linear regression method to determine the estimated sales equation.

Solution Preview

1. The regression equation for sales is y = 2.630952x + 2.416667.
(Please see attached file for complete solution.)

2. Multiply the second equation ...

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