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In: Statistics and Probability

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 $ 9,239
1994 11,836
1995 14,804
1996 18,165
1997 24,326
1998 31,349
1999 36,687
2000 47,660
2001 54,509
2002 57,861
2003 66,293
2004 75,025
2005 83,503
2006 90,116
2007 78,278
2008 70,438
2009 65,346
2010 67,300
2011 69,847
2012 75,519
2013 80,383
2014 83,101
2015 88,293

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.)

The regression equation is: ŷ =    +   
For 2016, t = and ŷ =
For 2017, t = and ŷ =

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Expert Solution

orchestra answered 3 years ago
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