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.
Estimation of difference among two means We know that the standard error of a sample is given by the value of the standard deviation (σ) divided by the square root of the numbe
advanteges of duality
Explain Simplifying Rational Expressions ? A rational expression, or algebraic fraction, is an expression in which you have a polynomial divided by a polynomial. Sometimes it
How do you find the slope of a straight line?
what iz the value of x if y=56
what is the perimeter of a rhombus
who created math?
Algebraic Word Problems: Equations: 1. The total electrical output of one nuclear facility is 200 megawatts more than that of another nuclear facility. Let L be the
Chi-square hypothesis tests as Non-parametric test(X2) They contain amongst others i. Test for goodness of fit ii. Test for independence of attributes iii. Test
product line of lg company
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