The following table presents the orders of Samson Company for the last 36 months (3 years). Month Order...

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The following table presents the orders of Samson Company forthe last 36 months (3 years).
Month Order Year 1 Order Year 2 Order Year 3
January 502 614 712
February 408 592 698
March 491 584 686
April 456 532 644
May 481 599 694
June 511 604 702
July 522 624 724
August 500 612 716
September 510 625 732
October 512 627 740
November 520 650 745
December 536 680 756
1. Use the data in the above table and regression analysis toforecast the orders for the next 12 months (4th year). Include yourexcel work sheet and your write up. Show the regression equation,values of intercept, slope, correlation coefficient and coefficientdetermination and the forecast of orders for the next 12months.
2. Explain how you could make your forecast’s results morereliable by incorporating a qualitative research to yourquantitative results.

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3.6 Ratings (426 Votes)

1 As we dont have enoughinformation regarding the data so it would be best to run a simplelinear regression model considering time point as the independentvariableDue to limited information of thepresented data we would like to run a simple linear regressionmodel assuming time point as the independent variableLetTime 1 for Year 1 January 2 for year 1 February and so and regress the Number See Answer

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Month	Order Year 1	Order Year 2	Order Year 3
January	502	614	712
February	408	592	698
March	491	584	686
April	456	532	644
May	481	599	694
June	511	604	702
July	522	624	724
August	500	612	716
September	510	625	732
October	512	627	740
November	520	650	745
December	536	680	756