The managing partner of an advertising agency believes that his company's sales are related to the industry sales. He uses Microsoft Excel's Data Analysis tool to analyze the last 4 years of quarterly data (i.e.,n= 16) with the following results:

Regression Statistics

Multiple R 0.802

R Square 0.643

Adjusted R Square 0.618

Standard Error SYX 0.9224

Observations 16

ANOVA

df SS MS F Sig.F

Regression 1 21.497 21.497 25.27 0.000

Error 14 11.912 0.851

Total 15 33.409

Predictor Coef StdError t Stat P-value

Intercept 3.962 1.440 2.75 0.016

Industry 0.040451 0.008048 5.03 0.000

Durbin-Watson Statistic 1.59

a) What is the value of the quantity that the least squares regression line minimizes? Explain your answer.

b) What is the prediction of Y for a quarter in whichX= 120? Show how you obtain your answer.

c) What is the value for the coefficient of determination?

d) What is the value of the correlation coefficient?