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Regression Analysis of Time Series Data

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The following time series data represent the yearly amounts spent on advertising (in millions of dollars) by a large toy company:
33.3, 42.5, 44.9, 47.2, 48.7, 53.1, 46.1, 46.8, 55.2
This series of data begins in year (i.e., time period corresponds to 1994. Using regression analysis, a linear trend line of the form was fit to the data. Using this information, generate a forecast for the total yearly amount of money that will be spent on advertising in 1994 .

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Solution Summary

This solution conducts a regression analysis on the advertising data provided to determine the regression equation and forecast total yearly amounts of money spent on advertising.

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