In Exercise 12.77 we presented sales data for the Lexus GX, a mid-size sport utility vehicle (SUV)

Question:

In Exercise 12.77 we presented sales data for the Lexus GX, a mid-size sport utility vehicle (SUV) sold in North American and Eurasian markets by Lexus. The sales of the Lexus GX 470 from its inception until 2009 are given in the table:3

a. Plot the data. What model would you expect to provide the best fit to the data? Write the equation of that model.
b. Use a computer software package to fit the model from part a.
c. Find the least-squares prediction equation relating the sales of the Lexus GX 470 to the year of production.
d. Does the model contribute significant information for the prediction of sales based on the year of production? Use the appropriate p-value to make your decision.
e. Find R2 on the printout. What does this value tell you about the effectiveness of the multiple regression analysis?