QUESTION #2 30 MARKS A widget manufacturing company Widgetmax Limited has collected data on its output for the last 11 years as shown below. YEAR Output (No widgets) 1 530 2 549 3 607 4 630 5 692 6 735 762 845 1022 10 1339 11 1230 789 (a) Using the regression tool in excel, compute the regression printout for this company. 5 marks (b) From the printout, develop the model (equation) for the linear trend line for these time series. 5 marks (c) Comment on what is happening to widget production each year. 5 marks (d) Comment on the strength and direction of the relationship between the independent and dependent variables. 4 marks (e) is the model a good estimator? Explain 5 marks (f) The current plant capacity is 1280 widgets. To exceed this production requires building a larger plant. The long term strategic plan is build a new plant. Based solely on the model developed in (b) will Widgetmax have to build the new plant by year 13. Why 6 marks