NAME: 2 P 3 Cheryl Johnson, the director of marketing for the Thingarnajig Company, has 4 collected data on the annual number of households in the state, the adjusted average 5 annual household income, and Thingamajig's sales of widgets. She would like you to 6 analyze these data for developing a forecast of future widget sales. Average Number of 10 Year Household Households Widgets 11 1980 Income 39.5 Sold 12 1981 34,000 39.8 5,500 13 1982 34 600 40.4 5,600 14 1983 41,000 5,900 L EV 38,000 15 1984 43.2 5,800 39,000 16 1985 44 0 6, 100 42,000 17 1986 44.5 6,900 18 44,000 987 46.2 6,300 49,000 19 1988 46.5 7,300 46,000 6,700 20 1989 46.8 51,000 21 6,900 1990 47.0 48,000 7,200 22 1991 47.1 47,000 7, 100 23 1992 47 3 50,000 7, 100 24 1993 47.7 51,000 7,400 25 1994 48.0 53,00 7.600 26 1995 48.1 54,000 7,900 27 1996 48.4 55,000 7,300 28 1997 48.5 53,000 8,000 29 1998 49.0 57,000 8 500 30 31 Question #1 32 1. (A) In sheet Question #1, Perform a regression analysis on the above data to see if the 33 population can be used to predict future sales. (B) Create a graph that shows the historical data, the 34 regression line and 95% confidence interval lines. (C) Predict sales for the next three years based 35 on the population projections listed below. 36 ( fill in the blanks below) 37 Estimated 38 Year Population Prediction 39 1999 52.0 40 2000 52.140 49 \\50 51\\ 52\\ Question # 2 53 2. ( A ) In sheet Question # 2 perform a regression analysis on the above data to see if household* 54 income can be used to predict future sales. ( B ) Create a graph that shows the historical data , the 55 regression line and 95% confidence interval lines. ( C ) Predict sales for the next three years based 56 on the income projections listed below* 57 ( Fill in the blanks below ) 58 5.9 Estimated Year Income* Prediction 1999 58. 000 67` 200 0 62.000 62 2007 65,000 63 64 ( D ) Is this a good representational model ? Why or why not ? 65 ( Answer ) 6 7 68\\ 69 TO 72 Question # 3 73| } ( A ) In sheet Question # 3 perform a multiple regression analysis on the above data to see if household I'd income and population can be used to predict future sales. (E) Predict sales for the next three years* 75 based on the income and population projections listed below* TO ( fill in the blank's below ) TT Estimated Estimated 78 Year Income Population* \\Prediction* 7:0 5.8. 010.0 $2.0 6 2, 000 52. 1 2001 LE 65, 00 0 52` $3| (C ) Is this a good representational made ! ? Why or why not ?Question #3 3. (A) In sheet Question #3 perform a multiple regression analysis on the above data to see if household income and population can be used to predict future sales. (E5) Predict sales for the next three years based on the income and population projections listed below. (fill in the blanks below} Estimated Estimated Year Income Population Prediction 1999 58.000 52.0 2000 62.000 52.1 2001 65,000 52.3 (C) Is this a good representational model? Why or why not
