Forecasting using linear regression
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Using Excel, solve the following:
Carpet City wants to develop a means to forecast its carpet sales. The store manager believes that the store's sales are directly related to the number of new housing starts in town. The manager has gathered data from county records on monthly house construction permits and from store records on monthly sales. These data are shown as follows:
(see chart in attached file)
Monthly Carpet Sales (1,000 yd) Monthly Construction Permits
5 21
10 35
4 10
3 12
8 16
2 9
12 41
11 15
9 18
14 26
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Solution Summary
The solution uses linear regression for forecasting
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