Question: The American Research Group Inc conducted a telephone survey of
The American Research Group, Inc. conducted a telephone survey of a random sample of 1, 100 U.S. adults in a recent year and determined that the average amount of planned spending on gifts for the holiday season was $854 and that 40% of the purchases would be made from catalogs. 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 catalogs. Develop a regression model to predict the amount of planned spending in a given year by the associated percentage to be made from catalogs for that year. Comment of the strength of the model and theoutput.
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