In Problem 44, Infoworks believes its printer sales are also related to the average price of its printers. It has collected historical data on average printer prices for the past 10 years, as follows:

Year Average Printer Price 1 $475 2 490 3 520 4 420 5 410 6 370 7 350 8 300 9 280 10 250

a. Using Excel, develop the multiple regression equation for these data.

b. What is the coefficient of determination for this regression equation?

c. Determine the forecast for printer sales, based on personal computer sales of 1,500 units and an average printer price of $300.

 LO.1