A firm has discovered that its sales are highly correlated to a
certain economic parameter. The...
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Mechanical Engineering
A firm has discovered that its sales are highly correlated to acertain economic parameter. The value for that parameter has beenpredicted to be 15 for the next year (7th year). Useregression modeling to develop a forecast for the next year.
Year
1
2
3
4
5
6
Econ. Parameter
16.2
14.9
18.5
16.1
13.8
15.4
# Sales
120
100
165
140
100
110
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