[4/8, 2:14 PM] Ghty: While regression analysis is a useful tool for making budgeting predictions, learning how to become proficient in regression analysis is beyond the scope of this class. But, knowing what regression analysis can do for the budgeting process is important. So, after you watch the video, write short paragraph, or two, explaining what you feel regression analysis can provide during the budgeting proces

[4/8, 2:15 PM] Ghty: Regression analysis is a statistical tool used for the examination of relationships between variables. Linear regression analysis is used to estimate the strength and the direction of the relationship between two linearly related variables.

Explain the differences between the regression model, the regression equation, and the estimated-regression equation. Discuss the application of regression analysis in business decision making. Give examples on how the regression analysis can be used in business.

6) The following results are an autoregression for the above series where the independent variables are the lagged value of the series and time. SUMMARY OUTPUT Regression Statistics Multiple R 0.88 R Square 0.77 Adjusted R Square 0.76 Standard Error 18 51 Observations 73 ANOVA Significance df F Regression 2 78680 39340 115 7.90887E-23 Residual 70 23985 343 Total 72 102664 Standard Upper Coefficients Error P-value Lower 95% 95%% Intercept 69.45 12.3 5.7 0.0 45.0 93.9 Lagged term 0.32 0.1 2.7 0.0 0.1 0.6 Time 1.03 02 4.8 0.0 0.6 1.5 Based on these regression results, what is your forecast for the 71" period? (10) 1= 49:6+. 082+70x1, 05 x71= 166.03 b) Based on these regression results, what is your forecast for the 72" period? (10) y = 69 +6 +1 03( 72) y= 143, 61