The sales by Walkers Milk and Dairy Products in millions of
The sales by Walker\'s Milk and Dairy Products in millions of dollars for the period from 2007 to 2013 are reported in the following table. Determine the least squares regression trend equation. Estimate the sales for 2016. (Round your answers to 2 decimal places.) Click here for the Excel Data File
Solution
The regression equation is
sales = - 2850 + 1.43 year
at 2016
sales=-2850+1.43*2016=32.88
