A large toy company introduces a lot of new toys to its product line each year. The company wants to predict the demand as measured by y, first-year sales (in millions of dollars) using x, awareness of the product (as measured by the percent of customers who had heard of the product by the end of the second month after its introduction).

A random sample of 65 new products was taken, and a correlation of 0.96 was computed. Which of the following is a correct interpretation of this value?

(a) Ninety-six percent of the time, the least-squares regression line accurately predicts first-year sales.

(b) About 92% of the time, the percent of people who have heard of the product by the end of the second month will correctly predict first-year sales.

(c) About 92% of first-year sales can be accounted for by the percent of people who have heard of the product by the end of the second month.

(d) For each increase of 1% in awareness of the new product, the predicted sales will go up by 0.96 million dollars.

(e) About 92% of the variation in first-year sales can be accounted for by the least-squares regression line with percent of people who have heard of the product by the end of the second month as the explanatory variable.