Consider the Prediction Equation $\hat { y }$ = 604 + 010(t)and the Data Below

question 7

Essay

Consider the prediction equation $\hat { y }$ = 6.04 + 0.10(t)and the data below. $$\begin{array} { c c } \text { Time period } & \text { Sales (y) } \\1 & 6.1 \\2 & 6.0 \\3 & 6.1 \\4 & 6.3 \\5 & 6.8 \\6 & 6.8 \\7 & 7.0 \\8 & 7.1 \\9 & 7.0 \\10 & 7.1 \\11 & 6.8 \\12 & 7.0 \\13 & 7.2 \\14 & 7.4 \\15 & 7.5\end{array}$$
-Compute the predicted value of sales for period 7 and 8.

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Definitions:

Ponzi Scheme

A fraudulent investing scam promising high rates of return with little risk by paying earlier investors with the funds from more recent investors.

Bait And Switch

A deceptive marketing practice where customers are lured with the promise of a product or service at a certain price, only to find it unavailable and replaced with a more expensive option.

Account Kiting

The illegal practice of exploiting banking systems to create artificial funds by writing checks between several accounts.

Probable Cause

A standard of reasonable belief, based on facts, that is required to arrest a person, conduct a search, or seize property in legal proceedings.