Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You work for a company in the marketing department. Your manager has tasked you with forecasting sales lay month for the next year. You notice

image text in transcribed
image text in transcribed
You work for a company in the marketing department. Your manager has tasked you with forecasting sales lay month for the next year. You notice that over the past 12 months sales haye consistently gone up in a linear fashion. so you decide to run a regression the company's sales history. You find that the regression equation for the data is {sales} = 62.123*[time] + 193.623. In August [time = 3] you see the actual sales quantity was 333.1?3. The residual is 332.469. Interpret this residual in terms of the problem. 0 1} The month is 332.469 months less than what we would expect. 0 2} The sales is 332.469 units greater than what we would expect. 0 3} The sales is 333193 units less than what we would expect. 0 4} The month is 332.469 months larger than what we would expect. 0 5} The sales is 332.469 units less than what we would expect

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Combinatorial Geometry In The Plane

Authors: Hugo Hadwiger, Hans Debrunner, Victor Klee

1st Edition

048679993X, 9780486799933

More Books

Students also viewed these Mathematics questions

Question

1. Background knowledge of the subject and

Answered: 1 week ago