Least-squares regression method-equation for forecasting

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Reference no: EM131143006

Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table:

Maroon 5 TV Appearances 4 5 7 7 8 5

Demand for Guitars 4 5 6 6 10 7

a) Using the least-squares regression method, the equation for forecasting is (round your responses to four decimal places) Y= _ + _x

b) The correlation coefficient (r) for this model = __ (round your response to four decimal places).

The coefficient of determination (r squared) for this model is __ (round your response to four decimal places)

The percentage of variation in sales that can be explained by TV appearances = __% round your response to two decimal places)

Reference no: EM131143006

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