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Statistics: The Least Squares Equation

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?


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.