A firm has discovered that its sales are highly correlated to a certain economic parameter. The...

A firm has discovered that its sales are highly correlated to a certain economic parameter. The value for that parameter has been predicted to be 15 for the next year (7^th year). Use regression 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

Expert Solution

samet mamat answered 3 years ago

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