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I need help with this question please. Thanks in advance. The following chart shows estimated January...

I need help with this question please. Thanks in advance.

The following chart shows estimated January retail inventories in the United States in 2000, 2005, and 2007 (t = 0 represents 2000):

  Year t   0 5 7
  Inventory ($ billion)   380 430 500

Find the regression line (round coefficients to two decimal places).
y =

Use your regression equation to estimate January retail inventories in 2004.
$ ______ billion

math   Statistics-And-Probability   
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Answer #1

We can use here Excel for regression equation

Step 1) Enter data in Excel .

Step 2) Data >>Data analysis >>Regression >>Select y and x values separately >>Ok

Yeart Inventory IS billion) SUMMARY OUTFUT Multiple R 0.94375572 Adjusted 072240330 158.065 0.215431095 Ragression Residusl 1 801221 01.2820513 2 7265.666567 Stondord Error 13.54EA2AT 06 23.2591657 ercept Varkble1 .55144433G 2.840303324 0.2154810 4 7G33G40 30.30702019 34.7355430702019

The regression line is  

y=373.59+15.77*t

t=4 for year 2004

Substitute t=4 in regression equation

=> y=373.59+15.77*(4)

=436.67

i.e. $436.67 billion

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