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Mark Gershon, owner of a musical instrument dis-tributorship, 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- 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?
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The last 4 weekly values of sales were 80,100,105 and 90 units. The last 4 forecast (for the same 4 weeks) were 60, 80, 95 and 75 units. Calculate the MAD, MSE and MAPE for these
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