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BADB3013 - Production and Operations Management DemandForecasting 2. SuregripCalculatorCompany(SCC)needstoestimateitssalesfornextyear. Themostrecent sixyearsofrevenuedataforthecompany'spopular lineofcalculatorsaregivenbelow: Year SalesRevenues Year SalesRevenues (millionsofdollars) (millionsofdollars) 1 46.7 4 77.9 2 59.3 5

BADB3013 - Production and Operations Management

DemandForecasting

2. SuregripCalculatorCompany(SCC)needstoestimateitssalesfornextyear. Themostrecent sixyearsofrevenuedataforthecompany'spopular lineofcalculatorsaregivenbelow:

Year

 SalesRevenues

Year

SalesRevenues
(millionsofdollars)

(millionsofdollars)

1

46.7

4

77.9

2

59.3

5

85.1

3

 74.2

6

98.0

a. Assumingthatthesalesdataabovearerepresentativeofsalesexpected nextyear,usetimeseriesregression analysistoforecastnextyear's(Year7's)salesrevenues.

b. Determinethecorrelationcoefficientforthedataandinterpret itsmeaning.

c. Findthecoefficientofdeterminationforthedataandinterpret itsmeaning.

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