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    Logarithmic Trend Equation

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    Can you please assist me with the question in the attachment? Thanks.

    7. Sally's Software, Inc. is a rapidly growing supplier of computer software to the Sarasota area. Sales for the last five years are given below.
    Year Sales ($ millions)
    1999 1.1
    2000 1.5
    2001 2.0
    2002 2.4
    2003 3.1
    1. Determine the logarithmic trend equation.
    2. By what percent did sales increase, on the average, during the period?
    3. Estimates sales for the year 2006.

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    Solution Summary

    This solution calculates the logarithmic trend equation by graphically display and finding the regression equation. It also calculates the percentage increase and the sales for the year 2006.