Given the data for the sales of a product in a state is as follows:
The equation of the straight-line trend by method of least squares is : |
$14+162x$ $126+15x$ $128+14x$ $162+14x$ |
$162+14x$ |
The correct answer is Option (4) → $162+14x$ To find the equation of straight line trend, $y=a+bx$ $∑x=(-2)+(-1)+0+1+2=0$ $∑y=150+150+160+170+200=810$ $∑xy=(-300)+(-150)+0+170+400=140$ $∑x^2=4+1+0+1+4=10$ $a=\frac{∑y}{n}=\frac{810}{5}=162$ $b=\frac{∑xy}{x^2}=\frac{140}{10}=14$ $y=162+14x$ |