Provide one (1) explanation, with an example, on why preparing an Operating Budget would be beneficial for your company.

[2 marks]

You also have the following information from the past 12 months:

Month	Number of employee overtime hours	Number of sales orders received	Amount spent on advertising ($)	Profits ($)
1	25	80	490	28,500
2	32	66	650	31,400
3	31	81	470	30,800
4	25	73	620	25,500
5	40	45	510	27,800
6	42	60	640	33,000
7	55	61	590	32,100
8	49	55	350	28,800
9	61	57	410	38,400
10	58	32	330	33,000
11	20	38	300	21,000
12	26	40	410	29,900

Perform a regression analysis using Microsoft Excel to forecast the profits for the coming month. After which,

Submit a screenshot of your regression output

Determine the regression equation using your answer in (i).

Identify the dependent and independent variable(s) in your regression equation.

[9 marks]