#26The quarterly sales data (number of copies sold) for a college textbook over the past three years follow. Quarterly Year 1 Year 2 Year 3 1 1690 1800 1850 2 940 900 1100 3 2625 2900 2930 4 2500 2360 2615 d. Regression analysis yields the following forecast equation: 2491.67 - 711.67QTR1 - 1511.67QTR2 + 326.67QTR3 + 23.13t; what is the forecast for period 15? Round to the nearest hundred e. Regression analysis yields the following forecast equation: 2491.67 - 711.67QTR1 - 1511.67QTR2 + 326.67QTR3 + 23.13t; what is the forecast for period 16? Round to the nearest hundred
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
#26
The quarterly sales data (number of copies sold) for a college textbook over the past three years follow.
Quarterly Year 1 Year 2 Year 3
1 1690 1800 1850
2 940 900 1100
3 2625 2900 2930
4 2500 2360 2615
d.
e. Regression analysis yields the following forecast equation: 2491.67 - 711.67QTR1 - 1511.67QTR2 + 326.67QTR3 + 23.13t; what is the forecast for period 16? Round to the nearest hundred
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
