Listed below is the net sales in $ million for Home Depot Inc. and its subsidiaries...

Listed below is the net sales in $ million for Home Depot Inc. and its subsidiaries from 1993 to 2015. Remember to code the years starting at 1 for year 1993. Year Net Sales 1993 $ 9,854 1994 12,629 1995 16,212 1996 19,085 1997 23,642 1998 31,934 1999 40,035 2000 46,621 2001 55,432 2002 58,246 2003 64,438 2004 73,664 2005 80,767 2006 89,476 2007 78,442 2008 73,135 2009 64,853 2010 67,223 2011 70,034 2012 75,408 2013 78,117 2014 82,730 2015 88,658 Click here for the Excel Data File Determine the least squares equation. On the basis of this information, what are the estimated sales for 2016 and 2017? (Round your final answers to 2 decimal places.)

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Expert Solution

Least squares regression equation is

Sales=15165.6403+3448.64229*Year.

Coded value of Year for 2016 is 24.

Predicted sales for 2016 is 15165.6403+3448.64229*24 =97933.06 (in $)

Coded value of Year for 2017 is 25.

Predicted sales for 2017 is 15165.6403+3448.64229*25 =

orchestra answered 1 year ago

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