Question

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

 

25 Aug 2021
Answer :
Word Count : 343

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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