Answer :
Based on the sales data for the last 30 years, forecast sales value for year 32 is 734.
Linear regression trend is a statistical method used for analyzing relationship between two variables.
The equation used for linear regression analysis:
Y =a + bx
Where,
Y = dependent variable
a = Intercept
b = slope of the line
x = Independent variable
To calculate forecast the sales value for year 32:
Ft = 94 + 20t
= 94 + 20(32)
= 94 + 640
= 734
Therefore, the forecasted sales value for year 32 is 734.
To learn more about regression:
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The complete question is:
Based on the sales data for the last 30 years the linear regression trend line equation is: Ft= 94+20t What is the forecast sales value for year 32
