(a) The sales of a company (in million dollars) for each year are shown in the table below: | x (year) | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |---|---|---|---|---|---|---|---|---| | y (sales) | 12 | 19 | 29 | 37 | 45 | 25 | 20 | 55 | (Let y = sales and x = number of years) (i) Generate the output by using regression analysis in Excel. (ii) Prepare the scatter plot and describe the relationship between x and y. (iii) Determine the least square regression line based on your output. (iv) Determine the coefficient of determination and interpret its value. (v) Estimate the sales for year 2022.
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This will create a scatterplot of the data. The plot will show the relationship between the dependent variable (y-marks) and the independent variables (x-marks). Based on the scatterplot, it can be seen that there is a positive relationship between y-marks and Show more…
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