Simple Regression Analysis
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Simple Regression Analysis
|
| A company is interested to know what the potential sales in units for 2009. To make this forecast the company uses information from previous years which is given below:
Y X
| Year Sales ($000) Advertising ($000)
| 2002 $8 $1
| 2003 $12 $2
| 2004 $18 $ 3
| 2005 $20 $ 3
| 2006 $30 $5
| 2007 $35 $6
| 2008 $60 $7
| 2009 $90 $9
INSTRUCTIONS:
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| A) Obtain the regression equation
| B) Calculate sales for the year 2010 if the advertising was $ 12,000.
| C) Develop the graph to the problem
| D) Carry out the analysis of correlation and determination
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Solution Summary
The expert examines simple regression analysis for potential sales. A complete, neat and step-by-step solution is provided in the attached Excel file.
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