Question: 2. Using the following data: Month m LCD Sold (Hundreds) 8 Unemployment Rate (%) 5.5 6.2 8.8 As the Operations Manager at Abalone you are

2. Using the following data: Month m LCD Sold (Hundreds) 8 Unemployment Rate (%) 5.5 6.2 8.8 As the Operations Manager at Abalone you are requested to forecast the LCD sales based on the data in the table. The assumption there is an associative relationship between unemployment rate and LCD Sold where unemployment rate predicts the LCD sold. a) If the data is viewed as a time series, between Unemployment and the month, determine the Least Squared Equation following the method used in the textbook only. (8 marks) b) If the data is viewed as an associative series, and the assumption in the statement above is true, determine the coefficient of correlation. (3 marks). Based on the value of coefficient of correlation, in your opinion, would you trust future forecasts based on the data? Why or Why not?(4 marks)

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