What is your estimate for guitar sales

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Reference no: EM131859973

Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Mark has collected the data shown in the following table:

Demand for Guitars	3	6	7	5
Maroon 5TV Appearances	3	4	7	6

a. Graph these data to see whether a linear equation might describe the relationship between the group's television shows and guitar sales.

b. Use the least-squares regression method to derive a forecasting equation.

c. What is your estimate for guitar sales if Maroon 5 performed on TV nine times last month?

d. What are the correlation coefficient (r) and the coefficient of determination (r²) for this model, and what do they mean?

The result should be Forecast = 9.93

Reference no: EM131859973

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