At the ends of the years 2005 through 2012, a company had the following investments in plants and equipments : 1.0, 1.7, 2.3, 3.1, 3.5, 3.4, 3.9 and 4.7 million dollars. fit a least square line. Assuming that the trend continues, predict the company's investments in plants and equipment at the end of 2014.
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Answer:
In agricultural research we are often interested in describing the change in one variable
(Y, the dependent variable) in terms of a unit change in a second variable (X, the independent
variable). Regression is commonly used to establish such a relationship. A simple linear
regression takes the form of
Y$ = a + bx
where is the predicted value of Y for a given value of X, a estimates the intercept of the
regression line with the Y axis, and b estimates the slope or rate of change in Y for a unit change
in X.
Y$
The regression coefficients, a and b, are calculated from a set of paired values of X and
Y. The problem of determining the best values of a and b involves the principle of least squares.
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