For the data $(0,1000),(1,1500),(2,2000),(3,2500),(4,3000),(5,3500)$, where the first number in parenthesis is $t$ and the second number is the actual demand, if we fit a trend line of the form $y t=a+b t$, the value of b obtained using the appropriate formulae is
A) 0
B) 500
C) 1000
D) 1500
E) 2000

Question

Quizplus · Accepted Answer

The value of $b$ in the trend line equation $y = a + bt$ can be calculated using the formula for the slope of a linear regression line. Given the data points, the increase in demand is consistent at 500 units per time period, indicating that $b = 500$.

For the Data (0,1000),(1,1500),(2,2000),(3,2500),(4,3000),(5,3500)(0,1000),(1,1500),(2,2000),(3,2500),(4,3000),(5,3500)(0,1000),(1,1500),(2,2000),(3,2500),(4,3000),(5,3500) , Where the First Number in Parenthesis Is

For the Data $(0,1000),(1,1500),(2,2000),(3,2500),(4,3000),(5,3500)$ , Where the First Number in Parenthesis Is