Microsoft Excel Was Used to Obtain the Following Quadratic Trend

question 23

Short Answer

Microsoft Excel was used to obtain the following quadratic trend equation:
Sales = 100 - 10X + 15X².
The data used was from 2001 through 2010 coded 0 to 9. The forecast for 2011 is ________.

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Definitions:

SSE

Sum of Squared Errors; a measure of the discrepancy between the data and an estimation model, representing the total deviation of the response values from the fit values.

Null Hypothesis

A hypothesis in statistical inference and testing that suggests no significant difference or effect, intending for it to be challenged by the alternative hypothesis.

Multiple Regression Model

A statistical technique that models the relationship between a dependent variable and two or more independent variables.

Independent Variables

Variables in an experiment or model that are manipulated to observe their effect on dependent variables.