Question: Question 2 : Select either question below. (50 points) ( Source: Chapter 18) : Explain linear regression analysis, and what is it used for in

Question 2: Select either question below. (50 points)

  • (Source: Chapter 18): Explain linear regression analysis, and what is it used for in forecasting. Describe linear regression equation, and what each of the variables represent. Explain forecasting error and all the sources and measurements of error.
  • (Source: Chapter 5 Supplement and Chapter 7): Link the concept of break-even analysis to cost minimization and profit maximization. Explain how production volume and capacity planning specifically affect break-even analysis and the costs that need to be factored with break-even analysis.

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