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)
Chapter6: Target Markets: Segmentation And Evaluation
Section: Chapter Questions
Problem 17DRQ: Under what conditions might a firm use multiple forecasting methods?
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Question
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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