Kim K asks you to develop a demand forecast for her perfume line Using the data provided, you find a regression model, y 4 3 36x 1 5x 2 , with the undernoted parameters Parameters R 2 0 70 Sig of F 0 04 p value of x 1 0 05 p value of x 2 0 08 x 1 denotes Consumer Income x 2 denotes Advertising y denotes Demand Would you advise KIm that the above model can be (technically) used for forecasting(disregard your responses to any other related question) yes no

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Question: Kim K. asks you to develop a demand forecast for her perfume line. Using the data provided, you find a regression model, y = 4

Kim K. asks you to develop a demand forecast for her perfume line. Using the data provided, you find a regression model, y = 4 + 3.36x₁+ 5x₂, with the undernoted parameters.

Parameters:R²=0.70

Sig of F:0.04

p-value of x₁=0.05

p-value of x₂=0.08

x₁denotes Consumer Income

x₂denotes Advertising

y denotes Demand

Would you advise KIm that the above model can be (technically) used for forecasting(disregard your responses to any other related question)?

yes

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