1. Thedemand data for a product over the past 5 months are shownbelow:
MONTH | DEMAND (number of units sold) |
Five months ago | 51 |
Four months ago | 58 |
Three months ago | 63 |
Two months ago | 71 |
Last month | 77 |
a. Plotthe monthly demand data using a software OR on a sheet of graphpaper.
b. UseTREND PROJECTIONS method to determine the equation of the trendline estimating the linear relationship between time (inmonths) and demand (in units sold).
c. Usethe equation of the trend line to predict demand for THISMONTH.
