The following linear trend equation was developed for the annual sales of the Jordan Manufacturing Company. Ŷ = 500 + 60t (in $thousands). At what rate are sales increasing?
A) $60,000 per year
B) $6,000 per month
C) $500,000 per year
D) $6,000 per year

Question

Quizplus · Accepted Answer

The coefficient of 't' in the equation represents the rate of increase in sales per year, which is $60,000.

The Following Linear Trend Equation Was Developed for the Annual