Below You Are Given Information on John's Hair Salon Profit

Essay

Below you are given information on John's Hair Salon profit for the past 7 years. $$\begin{array} { c c } \text { Year } & \text { Profit (In Thousands) } \\1 & 15.0 \\2 & 16.2 \\3 & 17.1 \\4 & 18.1 \\5 & 18.8 \\6 & 19.2 \\7 & 20.5\end{array}$$
a. Use regression analysis to obtain an expression for the linear trend projection.
b. Forecast John's Hair Salon profit for the next 5 years.