What is the value of the coefficient of determination for

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Reference no: EM13615705

A store wishes to predict net profit as a function of sales for the next year. The following table gives the years 1998 to 2005.

Year	Sales (thousands of dollars)	Net Profit
1998	55	4.5
1999	58	9.2
2000	67	9.8
2001	80	-3.2
2002	72	2.8
2003	73	3.5
2004	84	-2.4
2005	83	-2.8

Graph the points from 1998 through 2005 on a scatter diagram using Sales as the independent variable and Net Profit as the dependent variable.
Draw the regression line on the graph you constructed in Part (a).
What is the value of the coefficient of determination for this regression model? Comment on the strength of the regression line for this model.
What is the predicted net profit for 2006 if sales are expected to be 125?

Reference no: EM13615705

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