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Compute trend values from least square method Year : 2010 2011 2012 2013 2014 2015 2016 Sales : 210 211 220 230 260 280 290?
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Compute trend values from least square method Year : 2010 2011 2012 20...
Compute trend values from least square method
Year: 2010 2011 2012 2013 2014 2015 2016
Sales: 210 211 220 230 260 280 290
Explanation
The least square method is a statistical technique used to find the line of best fit for a set of data points. It is used to determine the trend values for a set of data points. The trend values can be used to predict future values of the data points.
Steps to compute trend values
- Calculate the mean of the x and y values.
- Calculate the slope of the line of best fit using the formula:
slope = (nΣ(xy) - ΣxΣy) / (nΣ(x^2) - (Σx)^2)
- Calculate the y-intercept of the line of best fit using the formula:
y-intercept = mean(y) - slope * mean(x)
- Use the slope and y-intercept to calculate the trend values for each x value using the formula:
y = slope * x + y-intercept
Calculation
Using the above formula, we get the following values:
- Mean of x values = 2013
- Mean of y values = 240
- Slope = 17.857
- y-intercept = -35285.714
Using the slope and y-intercept, we can calculate the trend values for each year:
- 2010: 210
- 2011: 227
- 2012: 244
- 2013: 261
- 2014: 278
- 2015: 295
- 2016: 312
Conclusion
The trend values for the given set of data points have been calculated using the least square method. These trend values can be used to predict future sales values. It is important to note that the accuracy of the predictions depends on the assumption that the relationship between the x and y values is linear.
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Compute trend values from least square method Year : 2010 2011 2012 20...
Compute trend values from least square method
Year : 2010 2011 2012 2013 2014 2015 2016
Sales : 210 211 220 230 260 280 290
Year : 2010 2011 2012 2013 2014 2015 2016
Sales : 210 211 220 230 260 280 290
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Compute trend values from least square method Year : 2010 2011 2012 2013 2014 2015 2016 Sales : 210 211 220 230 260 280 290?
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Compute trend values from least square method Year : 2010 2011 2012 2013 2014 2015 2016 Sales : 210 211 220 230 260 280 290? for B Com 2025 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Compute trend values from least square method Year : 2010 2011 2012 2013 2014 2015 2016 Sales : 210 211 220 230 260 280 290? covers all topics & solutions for B Com 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Compute trend values from least square method Year : 2010 2011 2012 2013 2014 2015 2016 Sales : 210 211 220 230 260 280 290?.
Compute trend values from least square method Year : 2010 2011 2012 2013 2014 2015 2016 Sales : 210 211 220 230 260 280 290? for B Com 2025 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Compute trend values from least square method Year : 2010 2011 2012 2013 2014 2015 2016 Sales : 210 211 220 230 260 280 290? covers all topics & solutions for B Com 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Compute trend values from least square method Year : 2010 2011 2012 2013 2014 2015 2016 Sales : 210 211 220 230 260 280 290?.
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