For the data $(0,10),(1,20),(2,30),(3,40),(4,60),(5,80)$, 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 $y t=a+b t$, then the trend line forecast for period 8 will be
A) 140
B) 115.39
C) 59.39
D) 128.0
E) 110.0

Question

Quizplus · Accepted Answer

To find the trend line forecast for period 8, we first need to calculate the coefficients $a$ and $b$ of the trend line equation $y = a + bt$. We do this by applying the method of least squares, which involves finding the line of best fit for the given data points. After calculating $a$ and $b$, we substitute $t = 8$ into the equation to get the forecast for period 8. The correct calculation leads to a forecast of approximately 115.39, which corresponds to option B.

For the Data (0,10),(1,20),(2,30),(3,40),(4,60),(5,80)(0,10),(1,20),(2,30),(3,40),(4,60),(5,80)(0,10),(1,20),(2,30),(3,40),(4,60),(5,80) , Where the First Number in Parenthesis Is

For the Data $(0,10),(1,20),(2,30),(3,40),(4,60),(5,80)$ , Where the First Number in Parenthesis Is