Given the following trend equation based on five years of annual sales (in millions of dollars), beginning in 2005: Ŷ = 4.53 + 1.54t
The estimated value for 2008 is ______.
A) 9.15
B) 10.69
C) 12.23
D) 6.07

Question

Quizplus · Accepted Answer

To find the estimated value for 2008, we need to substitute t = 3 (since 2005 is year 1, 2006 is year 2, and so on) into the equation, giving us: Ŷ = 4.53 + 1.54(3) = 9.15 million dollars. Therefore, the answer is B) 9.15.

Given the Following Trend Equation Based on Five Years of Annual