Ayamas Food Corporation Sdn. Bhd. company needs to estimate its sales for next year. The most recent six years of revenue data for the company's most popular line of Ayamas are given below: Year Sales revenue (Millions of dollars) 1 10 2 13 3 15 4 16 5 18 6 20 a) Use simple linear regression to forecast the sales revenue for the next THREE (3) years. (14 Marks) b) Determine the correlation coefficient for the data and interpret its meaning. (4 Marks) c) Determine the coefficient of determination for the data and interpret its meaning. (2 Marks)
Ayamas Food Corporation Sdn. Bhd. company needs to estimate its sales for next year. The most recent six years of revenue data for the company's most popular line of Ayamas are given below: Year Sales revenue (Millions of dollars) 1 10 2 13 3 15 4 16 5 18 6 20 a) Use simple linear regression to forecast the sales revenue for the next THREE (3) years. (14 Marks) b) Determine the correlation coefficient for the data and interpret its meaning. (4 Marks) c) Determine the coefficient of determination for the data and interpret its meaning. (2 Marks)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
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Ayamas Food Corporation Sdn. Bhd. company needs to estimate its sales for next year. The most recent six years of revenue data for the company's most popular line of Ayamas are given below:
|
Year |
Sales revenue (Millions of dollars) |
|
1 |
10 |
|
2 |
13 |
|
3 |
15 |
|
4 |
16 |
|
5 |
18 |
|
6 |
20 |
a) Use simple linear regression to
b) Determine the correlation coefficient for the data and interpret its meaning. (4 Marks)
c) Determine the coefficient of determination for the data and interpret its meaning. (2 Marks)
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