Temperature have a cause and effect relationship with sales

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Reference no: EM13216472

The Summer Time Clothing store is trying to determine the best forecasting model to use in the next fiscal year to project sales. They have a belief there is a correlation between temperature and sales since there #1 clothing item is beach ware. The prior year (2012) result is listed below:

Month Temp Sales

January 90 2510

February 95 2620

March 92 2575

April 96 2665

May 95 2600

June 91 2505

July 90 2500

August 85 2375

September 99 2715

October 100 2775

November 87 2430

December 96 2651

Answer the Questions below: (show your work in EXCEL)

What is the Regression Equation base on the above data?

Project what the forecast number would have been for 2012 and determine the accuracy of that forecast (BIAS, Absolute, Absolute %, Standard Error)

Does the Temperature have a cause and effect relationship with Sales?

What is the forecast of sales when the temperature is 90 degrees?

Reference no: EM13216472

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