You work for a company in the marketing department. Your manager has tasked you

Question

You work for a company in the marketing department. Your manager has tasked you with forecasting sales by month for the next year. You notice that over the past 12 months sales have consistently gone up in a linear fashion, so you decide to run a regression the company's sales history. You find that the regression equation for the data is (sales) = 58.451*(time) + 109.935. Assuming sales follow the same trend this year to next, what sales quantity would you expect to see in June (time = 6)? Question 5 options: 1) 350.71 2) We do not know the observations in the data set, so we cannot answer that question. 3) 460.64 4) -1.78 5) 718.06 You work for a company in the marketing department. Your manager has tasked you with forecasting sales by month for the next year. You notice that over the past 12 months sales have consistently gone up in a linear fashion, so you decide to run a regression the company's sales history. You find that the regression equation for the data is (sales) = 58.451*(time) + 109.935. Assuming sales follow the same trend this year to next, what sales quantity would you expect to see in June (time = 6)? You work for a company in the marketing department. Your manager has tasked you with forecasting sales by month for the next year. You notice that over the past 12 months sales have consistently gone up in a linear fashion, so you decide to run a regression the company's sales history. You find that the regression equation for the data is (sales) = 58.451*(time) + 109.935. Assuming sales follow the same trend this year to next, what sales quantity would you expect to see in June (time = 6)? 1) 350.71 2) We do not know the observations in the data set, so we cannot answer that question. 3) 460.64 4) -1.78 5) 718.06 1) 350.71 2) We do not know the observations in the data set, so we cannot answer that question. 3) 460.64 4) -1.78 5) 718.06 1) 350.71 2) We do not know the observations in the data set, so we cannot answer that question. 3) 460.64 4) -1.78 5) 718.06

Explanation / Answer

Since the sales is folowing the same trend, therefore sales in June (t=6) = 58.451*6 + 109.935 = 460.64

Option (3)

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