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Compute the equation of a trend line

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Reference no: EM131376465

Consider the sales pattern shown in the data set below: 

Sales

Year

Time Index

121

2004

0

130

2005

1

145

2006

2

160

2007

3

155

2008

4

179

2009

5

215

2010

6

208

2011

7

235

2012

8

262

2013

9

?

2014

10

?

2015

11

Using the regression feature of Excel, compute the equation of a trend line to forecast sales in 2014 and 2015. Note, you can use 'Year' as the explanatory variable or the 'Time Index' as the explanatory variable, but not both in the same equation. In your opinion, is this a good equation for forecasting future sales? Why or why not?

Reference no: EM131376465

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