Describe Forecasting by least square method
Problem- The following gives the number of accidents that occurred on Florida State Highway 101 during the past 4 months:
MONTH NUMBER OF ACCIDENTS
January 30
February 40
March 60
April 90
Forecast the number of accidents that will occur in May, using Least-squares regression to derive a trend equation. PX
Define the forecasting and describe the least square method to calculate forecast the number of accidents.