Give typed full explanation Mop and Broom Manufacturing has tracked the number of units sold of their most popular mop over the past 24 months. This is shown.Month12345678Sales Month238249254267277282402296910111213141516Sales300327346349353364373363Month+1718192021222324Sales361381375383384401409403a. Develop a linear trend line for the data. (Round your answers to 2 decimal places, e.g.,25.28.)Sales =(month)b. Compute a correlation coefficient for the data and evaluate the strength of the linear relationship. (Round your answer to 2 decimal places, the tolerance is +/-0.01.)Correlation coefficient is. It indicateslinear relationship. (Use not rounded amounts to answer this question.)c. Using the linear trend line equation, develop a forecast for the next period,month 25. (Round your answer to 2 decimal places, the tolerance is +/-0.01. Do not round intermediate results used to achieve this answer.)Forecast for month 25 =

Here we find a forecast line that best fits the data points representing the actual. Best fit means…

Answered: Mop and Broom Manufacturing has tracked…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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