Economics Homework - Discussion Week 3 - $8 due 15:00 EST

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  • Consider the sales pattern shown in the data set below: 
SalesYearTime Index
12120040
13020051
14520062
16020073
15520084
17920095
21520106
20820117
23520128
26220139
?201410
?201511

Using the regression feature of Excel, compute the equation of a trend line to forecast sales in 2014 and 2015.  Note, you can use 'Year' as the explanatory variable or the 'Time Index' as the explanatory variable, but not both in the same equation.  In your opinion, is this a good equation for forecasting future sales? Why or why not?

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