Below you are giveninformation on John\'s income for the past 7 years. Year Inco

Question

Below you are giveninformation on John's income for the past 7 years.

                                           Year                          Income (InThousands)

                                               1                                                 15.0

                                               2                                                 16.2

                                               3                                                 17.1

                                               4                                                 18.1

                                               5                                                 18.8

                                               6                                                 19.2

                                               7                                                 20.5

               a.     Use regression analysis to obtain anexpression for the linear trend component.

               b.     Forecast John's income for the next 5years.

Explanation / Answer

you wanted....not a least squares line? ... use of differentformula?...... Something I missed?

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