Mop and Broom Manufacturing has tracked the number of units sold of their most popular mop over the past 24 months. This is shown.
(a) Develop a linear trend line for the data.
(b) Compute a correlation coefficient for the data and evaluate the strength of the linear relationship.
(c) Using the linear trend line equation, develop a forecast for the next period, month 25.
|
Month
|
Sales
|
Month
|
Sales
|
Month
|
Sales
|
|
1
|
239
|
9
|
310
|
17
|
369
|
|
2
|
248
|
10
|
335
|
18
|
378
|
|
3
|
256
|
11
|
348
|
19
|
367
|
|
4
|
260
|
12
|
353
|
20
|
383
|
|
5
|
271
|
13
|
355
|
21
|
394
|
|
6
|
280
|
14
|
368
|
22
|
393
|
|
7
|
295
|
15
|
379
|
23
|
405
|
|
8
|
305
|
16
|
958
|
24
|
412
|