SOLUTION: The following time series data represent the yearly amounts spent on advertising (in millions of dollars) by a large toy company:
21.5, 24.2, 23.7, 24.8, 25.7
This series o
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Question 506314: The following time series data represent the yearly amounts spent on advertising (in millions of dollars) by a large toy company:
21.5, 24.2, 23.7, 24.8, 25.7
This series of data begins in year (i.e., time period corresponds to ). Using regression analysis, a linear trend line of the form was fit to the data. Using this information, generate a forecast for the total yearly amount of money that will be spent on advertising in .
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The following time series data represent the yearly amounts spent on advertising (in millions of dollars) by a large toy company:
21.5, 24.2, 23.7, 24.8, 25.7
This series of data begins in year (i.e., time period corresponds to ). Using regression analysis, a linear trend line of the form was fit to the data. Using this information, generate a forecast for the total yearly amount of money that will be spent on advertising in .
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I ran a linear regression program on my TI-84 to get:
Amount spent = 0.9*year + 21.28
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Cheers,
Stan H.
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