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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