Response to the following problem:
Use the table "Food and Beverage Sales for Jimmys Greek Restaurant" to answer the questions below.
Food and Beverage Sales for Jimmys Greek Restaurant ($000s)
Month First Year Second Year
January 242 263
February 235 238
March 232 247
April 278 193
May 284 193
June 240 149
July 145 157
August 152 161
September 110 122
October 130 130
November 152 167
December 236 231
Part (a) Calculate the regression line and forecast sales for January of Year 3.
Part (b) Calculate the seasonal forecast of sales for January of Year 3.
Part (c) Which forecast do you think is most accurate and why?