Time Series Analysis explained in this answer
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7.) Sally's Software is growing rapidly and the supplier of the software to a lage area of the country.
Sales have grown as shown in the table:
Year Sales ($ millions)
1999 1.1
2000 1.5
2001 2
2002 2.4
2003 3.1
a.) Plot the data and add the trend line.
b.) Compute the average % increase in sales in the five years.
c.) Estimate the sale for Year 2006 using the trend line as the way to predict.
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Solution Summary
The solution provides step by step method for the calculation of the trend for a time series model. The formula for the calculation and interpretations of the results are also included.
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