Consider the following data:
Year 1995 1996 1997 1998 1999 2000 2001 2002 Sales (in crores) 6.7 5.3 4.3 6.1 5.6 7.9 5.8 6.1
By using the method of least squares, the trend value for 1997 is :
Consider the following data:
| Year | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 |
|---|---|---|---|---|---|---|---|---|
| Sales (in crores) | 6.7 | 5.3 | 4.3 | 6.1 | 5.6 | 7.9 | 5.8 | 6.1 |
By using the method of least squares, the trend value for 1997 is :
Solution
✅ Correct Option: 3
With , use coded values .
Then , and , so .
For , , giving trend .
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