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The following trend line equation was de...

The following trend line equation was developed for annual sales from 1984 to 1990 with 1984 as base or zero year. Y = 500 + 60X (in 1000 ₹). The estimated sales for 1984 (in 1000 Rs) is:

A

500

B

560

C

1040

D

1100

Text Solution

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The correct Answer is:
To find the estimated sales for the year 1984 using the given trend line equation, we can follow these steps: ### Step 1: Understand the equation The trend line equation provided is: \[ Y = 500 + 60X \] where: - \( Y \) represents the annual sales in thousands of rupees. - \( X \) represents the number of years since the base year (1984). ### Step 2: Identify the base year The base year is 1984, which is considered as year 0. Therefore, for the year 1984: \[ X = 0 \] ### Step 3: Substitute \( X \) into the equation Now, we substitute \( X = 0 \) into the equation to find the sales for 1984: \[ Y = 500 + 60(0) \] ### Step 4: Calculate \( Y \) Now, simplify the equation: \[ Y = 500 + 0 \] \[ Y = 500 \] ### Step 5: Interpret the result The result \( Y = 500 \) means that the estimated sales for the year 1984 is 500 (in thousands of rupees). ### Final Answer The estimated sales for 1984 is **500,000 Rs** (since the values are in thousands of rupees). ---
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