Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Forecasting By Using Least Squares
Data have been kept of sales over the last seven years
Year
1
2
3
4
5
6
7
Sales (in '000 units
14
17
15
23
18
22
27
It is required to forecast the sales for the 8th year
Solution
Years (x)
Sales (y)
xy
x2
34
45
9
92
16
90
25
132
36
189
49
Σx=28
Σy = 136
Σxy=596
Σx2= 140
136 = 7a + 28b
596 = 28a + 140b
∴b = 1.86
And substituting in one of the equations we acquire
a = 12
∴ Regression line = y = 12 + 1.86x
Or, Sales in ('000s of units) = 12.00 + 1.86 (no of years)
We utilize this expression for forecasting, for 8th year sales = 12 + 1.86 (8)
=26.88 that is 26,888 units.
Correlation coefficient - These are numerical measures of the correlations existing between the independent and the dependent variables - These are better measures of corre
what is x(5x4)=26?
What is the probability of guessing five questions on a test correctly
Trapezoid Rule - Approximating Definite Integrals For this rule we will do similar set up as for the Midpoint Rule. We will break up the interval [a, b] into n subintervals of
Leo works at the Bagel Shop after school and on Saturdays. He is paid $4.00 per hour after school and $5.00 per hour on Saturday. Last week Leo worked a total of 12 hours and made
how do you do it
integrate ln(1+2^t)
in a garden 1/8 of the flowers are tulips. 1/4 of the tulips are rd. what fraction of the flowers in the garden are red tulips
what is the median of a set of data?
Given a standard 2x3 matrix show the ideal formed by the 2x2 minors is Prime.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd