B D G Chart 1 - X & fx E 1 Consider the below data which is based on a company's sales in Year 1 through Year 12 along with the national income of the 2 country, where the business is set up 3. a. Develop a scatter chart for these data, treating the national income as the independent variable. Does a simple linear regression 4 model appear to be appropriate? 5 b. Develop an appropriate estimated quadratic regression equation to predict the company's sales, given the national income c. How much variation in the sample values of company's sales is explained by this regression model? 7 d. Conduct Hypothesis testing at 95% confidence level to check overall regression relationship? 6 8 Company's sales (in thousands of dollars) y 470 485 499 515 532 532 700 National Income (in millions of dollars) x 305 316 358 350 375 392 400 398 430 456 578 498 600 556 Year 9 10 Year 1 Year 2 12 Year 3 13 Year 4 14 Year 5 15 Ycar 6 16 Year 7 17 Y car 8 18 Year 9 19 Year 10 20 Year 11 21 Year 12 22 23 24 25 26 27 500 400 576 583 587 601 605 300 100 0 28 E 29 ur 30 31 32 33 34 35 36 37 01 Q2 + Ready Average: 404