Calculate the trend values by the method of least square from the following data and estimate the sales for the year 2025
| Year | 2016 | 2017 | 2018 | 2019 | 2020 |
| Sales of T.V (000) | 12 | 18 | 20 | 23 | 27 |
To calculate the trend values using the method of least squares, we first need to find the linear equation that best fits the given data. The equation of a straight line is given by:
\[y = mx + b\]
where \(y\) is the dependent variable (sales in this case), \(x\) is the independent variable (year), \(m\) is the slope, and \(b\) is the y-intercept.
The formula for the slope (\(m\)) and y-intercept (\(b\)) in the least squares method are given by:
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