Answer :
The forecast sales value for year 32 is 884.
What is the projected sales value for the 32nd year?
The forecasted sales value for year 32 as:
Linear regression is a statistical method used to model the relationship between variables, and in this case, it has been applied to sales data over the last 30 years.
The given trend line equation, Ft = 84 + 25t, represents the linear relationship between the sales value (Ft) and time (t), where t represents the number of years from the starting point. The equation suggests that for each year, the sales value increases by 25 units, starting from an initial value of 84.
To find the forecast sales value for year 32, we substitute t = 32 into the equation:
F32 = 84 + 25(32) = 884.
Therefore, the forecasted sales value for year 32 is 884 units. This prediction is based on the linear regression analysis, assuming that the underlying sales trend observed in the past will continue in the future.
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