If for the following data:
Year (x) 2000 2001 2002 2003 2004 2005 2006 Production(in tonnes) (y) 40 45 46 42 47 50 46
the equation of the straight line trend is , then the trend value for the year 2004 is
If for the following data:
| Year (x) | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 |
|---|---|---|---|---|---|---|---|
| Production(in tonnes) (y) | 40 | 45 | 46 | 42 | 47 | 50 | 46 |
the equation of the straight line trend is , then the trend value for the year 2004 is
Solution
✅ Correct Option: 1
The trend line equation is where represents production in tonnes and represents the year. The equation is centered around year 2003 as the base year.
For year 2004, substitute into the equation:
Rounding to 2 decimal places gives tonnes.
Therefore, the trend value for the year 2004 is 46.18 tonnes.
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