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Hagerty's Furniture Regression Analysis

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Hagerty's Furniture is a family business that has been selling to retail customers in the Chicago area for many years. They advertise extensively on radio and TV, emphasizing their low prices and easy credit terms. The owner would like to review the relationship between sales and the amount spent on advertising. Below is information on sales and advertising expense for the last four months.
Month Advertising Expense ($ Million) Sales Revenue ($ Million)
July 2 7
August 1 3
September 3 8
October 4 10

a) Determine the regression equation.
b) Interpret the values of a and b.
c) Estimate sales when $3 million is spent on advertising.

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a. Put all data in Excel and use Chart to plot the sales as a function of Expense. Then use trendline to provide the equation. I have done so in attached ...

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