Solved: Determine the least squares trend equation, Basic Statistics

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Determine the least squares trend equation

Problem:

The following table gives the annual amount of scrap produced by Machine Products, Inc.

Year	Code	Scrap (tons)
1997	1	2.0
1998	2	4.0
1999	3	3.0
2000	4	5.0
2001	5	6.0

Determine the least squares trend equation. Estimate the amount of scrap for the year 2003.

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Basic Statistics: Determine the least squares trend equation

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