The following linear trend equation was developed for the annual sales of the Jordan Manufacturing Company, Y1 = 500 + 60X (in $ of dollars). By how much per year and per month are sales increasing?
Solution Summary
The following linear trend equation was developed for the annual sales of the Jordan Manufacturing Company, Y1 = 500 + 60X (in $ of dollars). By how much per year and per month are sales increasing?
The Dean of the business college at Strayer University wants to forecast the number of students who will enroll in business courses at the Charleston SC campus. Historically the enrollments have been:
Year Students
1 400
2 450
3
Can you explain linear and non lineartrends 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?
A least squares lineartrend line is just a simple regression line with the independent variable being time (months or years for example).
True or False.
Regression analysis was used to estimate the following lineartrend equation:
St = 10.5 + 0.25t
Use this equation to forecast the value of the dependent variable (St) in time period of 10.
10.75
13
35.5
2.5
Fit a lineartrend equation to the following data describing average hourly earnings of US production workers. What is the trend estimate for 2010?
Year: 2001 2002 2003 2004
Average
Hourly
Earnings: $14.53 $14.95 $15.35 $15.67
2.
The following date show residential and commercial
The president of a small manufacturing firm has been concerned about continual growth in manufacturing cost over the past several years. the following is time series of the cost per unit(in dollars) for the firm's leading product over the past eight years
Year Cost per Unit ($)
1 20.00
2
