Given the data for the sales of a product in a state is as follows:
Year 2005 2006 2007 2008 2009 Sales (In lakh Rs) 150 130 160 170 200
The equation of the straight-line trend by method of least squares is:
Given the data for the sales of a product in a state is as follows:
| Year | 2005 | 2006 | 2007 | 2008 | 2009 |
|---|---|---|---|---|---|
| Sales (In lakh Rs) | 150 | 130 | 160 | 170 | 200 |
The equation of the straight-line trend by method of least squares is:
Solution
✅ Correct Option: 4
Take origin at 2007. Then values: , with , .
, mean .
.
Slope . Intercept .
Trend: .
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