Consider the following data: Monthly Profit of a Gym: Month & Profit: Jan-12: 5800 Feb-12: 5553 March-12: 5094 April-12: 4797 May-12: 5215 June-12: 5718 July-12: 6719 Aug-12: 6208 Sept-12: 5936

Q: Consider the following data: Monthly Profit of a Gym: Month & Profit: Jan-12: 5700 Feb-12: 5453…

A: The Monthly Profit of the Gym is given as :         Month Profit Jan-12 5700 Feb-12 5453…

Q: Which forecasting tool in Excel should we use to create a prediction model for this dataset? 600 500…

A: Given graph of the data set as

Q: Amex PLC has gathered following information on the sales of face mask from April 2020 to September…

A: Given, information gathered by PLC on the sales of face mask from April 2020 to September 2020. a)…

Q: Consider the following data: Month Profit ($) Monthly Profit of a Gym Jan-12 Feb-12 Mar-12 Apr-12…

A: Given that,MonthProfit…

Q: In Colorado, sales of medical marijuana began in November 2012; however, the Department of Revenue…

A: The provided information is as follows:Data is given for the revenue from Feb 14 to October 18.The…

Q: Consider the following data: Answer Month Jan-12 Feb-12 Mar-12 Profit ($) 6,500 6,253. 5,514 5,357…

A: MSE:- Mean square error, it is the average of absolute error and its formula is given by,MAD:-Mean…

Q: Define the mean, median, and mode of the following data. If necessary round to one more decimal…

A: Given that  0.68 0.29 0.63 0.58 0.79 0.62 0.30 0.51 0.37 0.46 0.35 0.52 0.79 0.34 0.51 0.65 0.57…

Q: The following table shows hypothetical fluctuations in the unemployment rate of a country from…

A:

Q: The following table represents the trend eliminated values computed by us multiplicative model. Find…

A:

Q: Suppose you are given the following data. You have run a three month moving average and found the…

A: The three month moving average and found the forecasts, difference and difference squared between…

Q: Calculate 5-yearly weighted moving averages for the following data, using the weights 1.1, 3, 2, 1,…

A: IN THE ABOVE GIVEN PROBLEM WE HAVE TO CALCULATE THE 5 YEAR WEIGHTED MOVING AVERAGES

Q: Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Using the naive method (most recent value) as the…

A: Arrange the given data in below tabular form, Week Actual Value (A) Moving Forecast(F) Absolute…

Q: Your manager is trying to determine what forecasting method to use. Based on the following…

A: MONTHACTUAL DEMAND162265367468571673776878978108011841285

Q: An analyst must decide between two different forecasting techniques for weekly sales of roller…

A: The data shows the weekly sales of roller blades.

Q: Calculate the average (mean) of the data shown, to two decimal places x 14.9 18.2 15.9 14.5 24.1…

A: A set of data values is given. We need to find the average (mean) The solution to the given question…

Q: Here are data on the monthly price of apples for a certain year. a) Find a 2-point moving average of…

A: The given time series data of the price for the corresponding month is as…

Q: Consider the following data: Monthly Profit of a Gym Month Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12…

A: Given Data:MonthJan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Sep-12Profit…

Q: You are given the following quarterly sales information for ASTRA Company over the last 3 years.…

A: 1. Centered moving average To compute the central moving average, take the average to two…

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.