Consider the following data:
Year (X) 2004 2005 2006 2007 2008 2009 2010 Profit (₹) (y) 114 130 126 144 138 156 164
The equation of straight line trend by using least square method is , then the trend values for the year 2004 is
Consider the following data:
| Year (X) | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
|---|---|---|---|---|---|---|---|
| Profit (₹) (y) | 114 | 130 | 126 | 144 | 138 | 156 | 164 |
The equation of straight line trend by using least square method is , then the trend values for the year 2004 is
Solution
✅ Correct Option: 1
The trend line equation is where represents the year.
For the year 2004, .
Substituting into the equation:
Therefore, the trend value for year 2004 is ₹115.94.
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