Can someone help me with this problem - 1

Discussion in 'Scientific Statistics Math' started by Stacey, Aug 25, 2006.

  1. Stacey

    Stacey Guest

    Listed below is the net sales in $ million for Home Depot, Inc. and its
    subsidiaries from 1993 to 2002

    Year Net Sales
    1993 $ 9,239
    1994 12,477
    1995 15,470
    1996 19,535
    1997 24,156
    1998 30,219
    1999 38,434
    2000 45,738
    2001 53,553
    2002 58,247

    Determine the least squares equation. On the basis of this information,
    what are the estimated sales for 2005?
     
    Stacey, Aug 25, 2006
    #1
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  2. Stacey

    Bruce Weaver Guest


    This looks like more homework. People will be more willing to help if
    you show what you've tried so far rather than just posting the question
    and asking for an answer. So, what have you tried so far?
     
    Bruce Weaver, Aug 25, 2006
    #2
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  3. Stacey

    Stacey Guest

    I don't even know where to begin....I have tried reading the chapter,
    ALEKS and just searching for how to do it online but can't figure it
    out...if someone can show me an example maybe I can try it that way.
     
    Stacey, Aug 25, 2006
    #3
  4. Stacey

    Bruce Weaver Guest


    Who (or what) is ALEKS?

    Here's an example with Lean Body Mass in place of Year, and Muscle
    Strength in place of Net Sales.

    http://www.tufts.edu/~gdallal/slr.htm

    Be sure to read the comments about interpolation and extrapolation near
    the bottom.
     
    Bruce Weaver, Aug 25, 2006
    #4
  5. Try thinking about this problem aside from math or number
    crunching. If someone presented you with these numbers and
    asked for your comments, what conclusions would you draw?
    If someone (e.g. your boss) asked you to make a guess about
    sales for 2007 (or whatever), what would you say?

    Statistics is only a formalization of the kinds of reasoning that
    people do every day, without the benefit of higher education.
    Without statistics, you could trace (with a pencil or even your
    finger) a line or curve through the data, and make a guesstimate
    of future sales in that way.
    Linear regression is just a formalization (and not the only one)
    of that guesstimation.

    I know this commentary won't help you finish your homework
    for tomorrow, but I think it could help in the long run.

    FWIW
    Robert Dodier
     
    Robert Dodier, Aug 26, 2006
    #5
  6. Stacey

    Greg Heath Guest

    Excellent advice!

    Hope this helps.

    Greg
     
    Greg Heath, Aug 27, 2006
    #6
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