Question: QUESTION 4: Demand Forecasting The following data were collected during a study of consumer buying patterns. Observation X Y Observation X Y 1 15 74

QUESTION 4: Demand Forecasting The following data

QUESTION 4: Demand Forecasting The following data were collected during a study of consumer buying patterns. Observation X Y Observation X Y 1 15 74 8 18 78 2 25 80 9 14 70 3 40 84 10 15 72 4 32 81 11 22 85 5 51 96 12 24 88 6 47 95 7 30 83 6 47 95 7 30 83 Use Excel to answer the following questions. Submit/upload the developed Excel file. a) Plot the data as a scatter plot. b) Obtain a linear regression line for the data and determine its parameters. c) What percentage of the data variation is explained by the regression line? d) Use the equation determined in part (b) to predict the value of Y for X = 41

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