The Chartered Professional Accountants of Canada reported that the average amount of planned spending on gifts for the holiday season in 2018 was $643. In the U.S., however, the average amount of planned spending on gifts for a recent holiday season was US$854, with 40% of those purchases being made from catalogues. Shown below are the average amounts of planned spending on gifts for the holiday season for 11 years along with the associated percentages to be made from catalogues. Develop a regression model to predict the amount of planned spending in a given year by the associated percentage to be made from catalogues for that year. Comment on the strength of the model and the output.

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Year 1 2 3 4 567 8 9 10 11 Average Spending (US$) 1,037 976 1,004 942 907 859 431 417 658 646 854 Percentage Purchases to be Made from Catalogues 44 42 47 47 50 51 43 36 26 42 40