Below you are given information on John's income for the past 7 years.

a.Use regression analysis to obtain an expression for the linear trend component.
b.Forecast John's income for the next 5 years.

Question

Below you are given information on John's income for the past 7 years.
  
a.Use regression analysis to obtain an expression for the linear trend component.
b.Forecast John's income for the next 5 years.

Quizplus · Accepted Answer

The Answer of Below you are given information on John's income for the past 7 years.
  
a.Use regression analysis to obtain an expression for the linear trend component.
b.Forecast John's income for the next 5 years.

Below You Are Given Information on John's Income for the Past