Question: Question 2 Kim K asks you to develop a demand forecast for her perfume line. Using the data provided, you find a regression model, y

Question 2 Kim K asks you to develop a demand

Question 2 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=0.77 Sig of F: 0.02 p-value of x1 = 0.01 p-value of x2= 0.03 X1 denotes Consumer Income x2 denotes Advertising y denotes Demand Would you advise Kim that the above model can be (technically) used for forecasting, assuming that a confidence level of 97% is the norm? a. Yes O b. No Oc Cannot say

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