How do you forecast if you aren't given a linear trend equation? Your forecast for year 5 right at the end of the video had a Y5= 2600 or 2600/4= 650. But where did you get that 2600?
+JEREMY CHANNEL Hi, See the first ten seconds of video, we were given the first 4 years of sales and needed to estimate (forecast) the fifth. First, the linear equation is simple regression calculated from the sales history. A quick and easy way to do it is to use Excel and plot a liner equation, make sure to click the box to display a linear equation. Y=mX+B, where B is the Y intercept, m is the slope of the line, and X is the forecast year. By plugging 5 (fifth year) into linear equation, we get 2600. I hope that helps. Ed
thank you so much !
Thanks for watching
Fantastic job of explaining!
Thank you very much ❤️
Really, it helped me alot
Thanks for watching.
How do you forecast if you aren't given a linear trend equation? Your forecast for year 5 right at the end of the video had a Y5= 2600 or 2600/4= 650. But where did you get that 2600?
how did you find the equation y=420x+500, and how do you find the total sales of year 5, 2600?
+JEREMY CHANNEL Hi, See the first ten seconds of video, we were given the first 4 years of sales and needed to estimate (forecast) the fifth. First, the linear equation is simple regression calculated from the sales history. A quick and easy way to do it is to use Excel and plot a liner equation, make sure to click the box to display a linear equation. Y=mX+B, where B is the Y intercept, m is the slope of the line, and X is the forecast year. By plugging 5 (fifth year) into linear equation, we get 2600. I hope that helps. Ed
nice vedio