Forecast sales in the coming year (Year 5) using the regression results above.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 6PPS
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N5

The following table lists your company's sales during the last four years.
Year 1
Year 2
Year 3
Year 4
Sales
105
108
118
108
Using a computer program, you estimated the linear trend equation, S = a + b*t. Part of the regression result is given below:
Coefficients
Standard Error
t Stat
P-value
Intercept
110.9
8.3382
13.4922
0.0054
Year
-1.1
3.0447
-0.6240
0.5963
Forecast sales in the coming year (Year 5) using the regression results above. (Do not include $ sign. Round your answer to 1 decimal place.)
Transcribed Image Text:The following table lists your company's sales during the last four years. Year 1 Year 2 Year 3 Year 4 Sales 105 108 118 108 Using a computer program, you estimated the linear trend equation, S = a + b*t. Part of the regression result is given below: Coefficients Standard Error t Stat P-value Intercept 110.9 8.3382 13.4922 0.0054 Year -1.1 3.0447 -0.6240 0.5963 Forecast sales in the coming year (Year 5) using the regression results above. (Do not include $ sign. Round your answer to 1 decimal place.)
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