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
Section13.7: Exponential Smoothing Models
Problem 28P: The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present...
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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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