An organization develops a linear regression model to forecast sales. Below are the results of the regression analysis using 12 periods in the model. The regression equation is Y = .332167832(X) + 12.42424242 Is the model significant? What data demonstrates the significance of the model? What does the R Square signify? What is the forecast for period 13?

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An organization develops a linear regression model to forecast sales. Below are the results of the regression analysis using 12 periods in the model.

The regression equation is Y = .332167832(X) + 12.42424242

  1. Is the model significant? What data demonstrates the significance of the model?
  2. What does the R Square signify?
  3. What is the forecast for period 13?
SUMMARY
OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R
Square
0.868519059
0.754325356
0.729757892
Standard
Error
0.71684689
Observations
12
ANOVA
Significance
df
MS
F
F
Regression
1 15.77797 15.77797203 30.70424132 0.000247139
Residual
10 5.138695 0.513869464
Total
11 20.91667
Standard
Error
Coefficients
t Stat
P-value
Lower 95%
Upper 95%
Lower 95.0% Upper 95.0%
Intercept
12.42424242 0.441189 28.16083155
7.408E-11
11.4412126 13.40727225
11.4412126 13.40727225
X Variable 1
0.332167832 0.059946 5.541140796 0.000247139 0.198600381 0.465735283 0.198600381 0.465735283
Transcribed Image Text:SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square 0.868519059 0.754325356 0.729757892 Standard Error 0.71684689 Observations 12 ANOVA Significance df MS F F Regression 1 15.77797 15.77797203 30.70424132 0.000247139 Residual 10 5.138695 0.513869464 Total 11 20.91667 Standard Error Coefficients t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 12.42424242 0.441189 28.16083155 7.408E-11 11.4412126 13.40727225 11.4412126 13.40727225 X Variable 1 0.332167832 0.059946 5.541140796 0.000247139 0.198600381 0.465735283 0.198600381 0.465735283
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