Question: An electronics company is looking to develop a regression model to predict the number of units sold for a special running watch. Data is provided
An electronics company is looking to develop a regression model to predict the number of units sold for a special running watch. Data is provided below: (Use excel Data Analysis)
| Sales (units) | Price ($) | Advertising ($) |
| 500 | 100 | 50 |
| 480 | 120 | 40 |
| 485 | 110 | 45 |
| 510 | 103 | 55 |
| 490 | 108 | 40 |
| 488 | 109 | 30 |
| 496 | 106 | 45 |
(a) Development the regression model.
(b) Interpret the best model with all relevant information included.
(c) Determine the coefficient of determination and interpret.
(d) Determine the least squares trend line.
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