1. A small hospital is planning for future needs in its maternity wing. The data below show the number of births in each of the past eight years. Year Births Year Births 565 5 615 590 6 611 3 583 7 610 59 623 a. Use simple linear regression to forecast the annual number of births for each of the next three years. b. Determine the correlation coefficient for the data and interpret its meaning. c. Find the coefficient of determination for the data and interpret its meaning. 2. Suregrip Calculator Company (SCC) needs to estimate its sales for next year. The most recent six years of revenue data for the company's popular line of calculators are given below: Sales Revenues Sales Revenues Year (millions of dollars) Year (millions of dollars) 46.7 4 77.9 2 59.3 35.1 W I 74.2 6 98.0 a. Assuming that the sales data above are representative of sales expected next year, use time series regression analysis to forecast next year's (Year 7's) sales revenues. b. Determine the correlation coefficient for the data and interpret its meaning. c. Find the coefficient of determination for the data and interpret its meaning. 3 IPC's plant estimates weekly demand for its many materials held in inventory. One such part, the CTR 5922, is being studied. The most recent 12 weeks of demand for the CTR 5922 are: Demand Demand Demand Demand Week (units) Week (units) Week (units) Week (units) 169 4 171 7 213 10 158 2 227 163 8 175 11 188 176 157 9 178 12 169 Use the moving average method of short-range forecasting with an averaging period of three weeks