Answer to Question #74282 in Microeconomics for Zulfiqar Ali

Question

An exploration into the demand of Mobile sets in the following urban towns has supplied the following data
Towns A B C D E F G H
Population (000) 12 15 15 18 18 22 26 30
Demand for Mobile Sets 16 18 18 31 35 39 47 50
Estimate the number of T.V sets demanded in H Town with a population of 35 thousands.
Show it on the graph also

Answer 1

Using function "forecast" in excel we estimate the number of TV sets demanded in H Town with a population of 35 thousands to be 64.35 units