Question: Problem 1 (6 marks) Raysut Cement Company has divided Oman into different areas. The following table shows the Population and actual Sales for the current

Problem 1 (6 marks) Raysut Cement Company has divided Oman into different areas. The following table shows the Population and actual Sales for the current areas in which the company does business. The table also gives the Forecast values that were calculated for each of the areas: Areas Population Sales Forecas t (thousands) (millions) (millions) 410 413 B 1.76 240 232 6.81 595 590 D 4.22 325 339 E 12.77 990 925 F 5.09 665 662 G 10.82 840 859 H 16.84 1,450 1329 I 7.65 825 853 J 11.34 935 933 K 6.18 830 844 2.53 CUAL LUI BV a. Calculate the regression equation. b. Calculate the correlation coefficient and interpret it. c. The company is planning to expand into two additional areas in the coming year. The population of these two areas are 743,000 and 387,000. What are the estimated sales that can be expected from these two areas? d. Compute the MAD value to arrive at the forecast accuracy

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