Least Square Trend Equation
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Determine the least squares equation. According to this information, what are the estimated sales for 2005?
Listed below is the net sales in $ million for Home Depot, Inc. and its subsidiaries from 1993 to 2002.
Determine the least squares trend equation. Estimate the amount of scrap for the year 2005.
Year Net Sales
1993
9,239
1994
12,477
1995
15,470
1996
19,535
1997
24,156
1998
30,219
1999
38,434
2000
45,738
2001
53,553
2002
58,247
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Solution Summary
This solution contains step-by-step calculations to determine the estimated sales of 2005 and the least squares trend equation to estimate the amount of scrap for 2005. Workings are shown in full with explanations.
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Square trend equations
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Determine the least squares equation. According to this information, what are the estimated sales for 2005?
Listed below is the net sales in $ million for Home Depot, Inc. and its subsidiaries from 1993 to 2002.
Determine the least squares trend equation. Estimate the amount of scrap for the ...
Purchase this Solution
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