Below are given the annual production data (in thousand tons) of a fertilizer factory. You are required to fit a straight line trend using least square method and convert the annual trend equation in to monthly trend equation : \begin{tabular}{cc} Year & Production \\ 2010 & 70 \\ 2011 & 75 \\ 2012 & 90 \\ 2013 & 91 \\ 2014 & 95 \\ 2015 & 98 \\ 2016 & 100 \end{tabular}
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Mean of x-values (years): (2010 + 2011 + 2012 + 2013 + 2014 + 2015 + 2016) / 7 = 2013 Mean of y-values (production): (70 + 75 + 90 + 91 + 95 + 98 + 100) / 7 = 88.57 Show more…
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