Microsoft Excel Was Used to Obtain the Following Quadratic Trend

question 54

Short Answer

Microsoft Excel was used to obtain the following quadratic trend equation: Sales = 100 - 10X + 15X².
The data used was from 2004 through 2013 coded 0 to 9.The forecast for 2014 is .

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Definitions:

Z-Test

A statistical method for assessing if there is a significant difference between the means of two populations when variances are known and the sample sizes are large.

Chi-Squared Test

A statistical method employed to assess if the observed frequencies significantly differ from the expected frequencies across one or more categories.

Nominal Data

A type of categorical data for which the categories do not have a natural order or ranking.

Critical Value

A point on the scale of the test statistic beyond which we reject the null hypothesis; it depends on the chosen significance level.