Below you are given information on John's Hair Salon profit for the past 7 years. $$\begin{array} { c c }
\text { Year } & \text { Profit (In Thousands) } \
1 & 15.0 \
2 & 16.2 \
3 & 17.1 \
4 & 18.1 \
5 & 18.8 \
6 & 19.2 \
7 & 20.5
\end{array}$$
a. Use regression analysis to obtain an expression for the linear trend projection.
b. Forecast John's Hair Salon profit for the next 5 years.

Question

Below you are given information on John's Hair Salon profit for the past 7 years. $$\begin{array} { c c } 
\text { Year } & \text { Profit (In Thousands) } \
1 & 15.0 \
2 & 16.2 \
3 & 17.1 \
4 & 18.1 \
5 & 18.8 \
6 & 19.2 \
7 & 20.5
\end{array}$$ 
a. Use regression analysis to obtain an expression for the linear trend projection.
b. Forecast John's Hair Salon profit for the next 5 years.

Quizplus · Accepted Answer

The Answer of Below you are given information on John's Hair Salon profit for the past 7 years. $$\begin{array} { c c } 
\text { Year } & \text { Profit (In Thousands) } \
1 & 15.0 \
2 & 16.2 \
3 & 17.1 \
4 & 18.1 \
5 & 18.8 \
6 & 19.2 \
7 & 20.5
\end{array}$$ 
a. Use regression analysis to obtain an expression for the linear trend projection.
b. Forecast John's Hair Salon profit for the next 5 years.

Below You Are Given Information on John's Hair Salon Profit