Management of a home appliance store would like to understand the growth pattern of the monthly sales
Question:
a. Create a scatter plot for these data. Comment on the observed behavior of monthly sales at this store over time.
b. Estimate an appropriate regression equation to explain the variation of monthly sales over the given time period. Interpret the estimated regression coefficients.
c. Analyze the estimated equation’s residuals. Do they suggest that the regression equation is adequate? If not, return to part b and revise your equation. Continue to revise the equation until the results are satisfactory.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
Question Posted: