Determine the equation of the trend line estimating

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Reference no: EM131739142

The demand over the past 5 months for a brand new product is shown below: (show work)

MONTH DEMAND (number of units sold) May 2017 175

June 2017 195

July 2017 211

August 2017 233

September 2017 251

a. Plot the monthly demand data using a software OR on a sheet of graph paper.

b. Use TREND PROJECTIONS method to determine the equation of the trend line estimating the linear relationship between time (in months) and demand (in units sold).

c. Use the equation of the trend line to predict demand for the months of October, November, and December of this year.

(Hint: ‘May 2017’ will have a value of ‘1’ in the equation of the trend line, and by the same logic ‘September 2017’ will have a value of ‘5’ in the equation of the trend line.)

Reference no: EM131739142

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