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:
| Sales (units) | Advertising ($) |
| 500 | 50 |
| 480 | 40 |
| 485 | 45 |
| 510 | 55 |
| 490 | 40 |
| 488 | 30 |
| 496 | 45 |
1. Determine the least squares trend line. (Regression Line) (20 points)
2. Determine the coefficient of determination. (10 points)
3. Determine the correlation coefficient. (10 points)
4. Determine the predicted value of sales for advertising 60$ (5 points)
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