|
Year (x) |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
Sales (in lakh Rs.) (y) |
65 |
68 |
70 |
72 |
75 |
67 |
73 |
If $y = 70+ 0.964(x-2014)$ be a straight line trend fitted by the method of the least squares to the above data, then the trend value for the year 2015 is:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 70.96
Given trend equation: $y = 70 + 0.964(x - 2014)$
For the year 2015, $x = 2015$:
$y = 70 + 0.964 (2015 - 2014) = 70 + 0.964 * 1 = 70.964$