Required information [The following information applies to the questions displayed below.] Lexon Inc. is a large manufacturer of affordable DVD players. Management recently became aware of rising expenses resulting from returns of malfunctioning products. As a starting point for further analysis, Paige Jennings, the controller, wants to test different forecasting methods and then use the best one to forecast quarterly expenses for 2019. The relevant quarterly data for the previous three years follow: 2016 Quarter 2017 Quarter 2018 Quarter AWNE Return Expenses $ 12,500 11,300 11,600 13,700 Return Expenses $ 12,900 12,100 11,700 14,000 Return Expenses $ 13,300 12,300 12,100 14,600 Nm AWN The result of a simple regression analysis using all 12 data points yielded an intercept of $11,855.55 and a coefficient for the independent variable of $126.22. (R-squared = 0.44, SE = $974.89.) 2. Looking at the graph you prepared for requirement 1, select two representative data points and calculate the quarterly forecast for 2019 using the high-low method. 3. Calculate the quarterly forecasts for 2019 using the results of a regression analysis. Evaluate the results of the regression analysis and make appropriate changes to improve the model. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Looking at the graph you prepared for requirement 1, select two representative data points and calculate the quarterly forecast for 2019 using the high-low method. 2019 Quarter 14 Return Expenses 14,930 15,260 15,590 15,920 Required 2 Required 3 Calculate the quarterly forecasts for 2019 using the results of a regression analysis. Evaluate the results of the regression analysis and make appropriate changes to improve the model. (Round your answers to 2 decimal places for Regression One.) Regression One Predicted 2019 Quarter Expenses Regression Two Predicted 2019 Quarter Expenses Required information [The following information applies to the questions displayed below.] Lexon Inc. is a large manufacturer of affordable DVD players. Management recently became aware of rising expenses resulting from returns of malfunctioning products. As a starting point for further analysis, Paige Jennings, the controller, wants to test different forecasting methods and then use the best one to forecast quarterly expenses for 2019. The relevant quarterly data for the previous three years follow: 2016 Quarter 2017 Quarter 2018 Quarter AWNE Return Expenses $ 12,500 11,300 11,600 13,700 Return Expenses $ 12,900 12,100 11,700 14,000 Return Expenses $ 13,300 12,300 12,100 14,600 Nm AWN The result of a simple regression analysis using all 12 data points yielded an intercept of $11,855.55 and a coefficient for the independent variable of $126.22. (R-squared = 0.44, SE = $974.89.) 2. Looking at the graph you prepared for requirement 1, select two representative data points and calculate the quarterly forecast for 2019 using the high-low method. 3. Calculate the quarterly forecasts for 2019 using the results of a regression analysis. Evaluate the results of the regression analysis and make appropriate changes to improve the model. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Looking at the graph you prepared for requirement 1, select two representative data points and calculate the quarterly forecast for 2019 using the high-low method. 2019 Quarter 14 Return Expenses 14,930 15,260 15,590 15,920 Required 2 Required 3 Calculate the quarterly forecasts for 2019 using the results of a regression analysis. Evaluate the results of the regression analysis and make appropriate changes to improve the model. (Round your answers to 2 decimal places for Regression One.) Regression One Predicted 2019 Quarter Expenses Regression Two Predicted 2019 Quarter Expenses