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    Statistics: The Least Squares Equation

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    Listed in the attached file is the net sales in $ million for Home Depot, Inc. and its subsidiaries from 1993 to 2002.

    Task: Determine the least squares equation. On the basis of this information, what are the estimated sales for 2005?

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    Solution Preview

    Taking 1992 as year 0, we have 1993 as year 1, 1994 as year 2 etc.
    Using ...

    Solution Summary

    This solution provides a neat, step by step response which illustrates how to estimate sales for 2005. An Excel file accompanies this response and includes all of the output values for the results and a scatter plot.