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Least Squares Regression to Predict Yearly Sales for Home Depot

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

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

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

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Solution Summary

Yearly sales for Home Depot is given from 1993 to 2002. The solution explains how to find relationship between sales and time period. Sales for year 2005 is estimated from least square regression equation.

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