Year <?xml:namespace prefix = o ns = \"urn:schemas-microsoft-com:office:office\"
ID: 1184395 • Letter: Y
Question
Year <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>
Quantity
1990
2753
1991
2634
1992
3169
1993
3301
1994
3754
1995
3834
1996
5117
1997
6448
1998
7908
1999
9213
2000
11502
2001
10791
2002
10022
2003
8342
2004
10453
2005
10784
2006
10718
2007
12460
a. Develop a linear trend line and use it to predict the quantity demanded for 2008, 2009 and 2010.
b. Develop an annual growth trend line and use it to predict the quantity demanded for 2008, 2009 and 2010.
Year <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>
Quantity
1990
2753
1991
2634
1992
3169
1993
3301
1994
3754
1995
3834
1996
5117
1997
6448
1998
7908
1999
9213
2000
11502
2001
10791
2002
10022
2003
8342
2004
10453
2005
10784
2006
10718
2007
12460
Explanation / Answer
Linear trend line from Excel can be found as
Y =612.37X -1216430
using above equation and putting year values in place X
quantity demanded for 2008, = 13218
quantity demanded for2009 = 13830
quantity demanded for2010. = 14442
please rate 5 Star for help and Explanation
Intercept -1216430 X Variable 612.3746Related Questions
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