Calculate the correlation for the regression

Reference no: EM13220250

Carpet City wants to develop a means to forecast its carpet sales. The store manager believes that the store's sales are directly related to the number of new housing starts in town. The manager has gathered data form county records on monthly house construction permits and from store records on monthly sales:

Monthly Carpet Sales
(1000 yds) Monthly Construction
Permits
5 21
10 35
4 10
3 12
8 16
2 9
12 41
11 15
9 18
14 26

Develop a linear regression model for these data and forecast carpet sales if 30 construction permits for new homes are filed

Calculate the correlation for the regression and state whether you think the model is a good one for forecasting carpet sales.

Reference no: EM13220250

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