Discuss the below in detail:
Q1. The sales of Crusty The Clown cereal since 2000 are:
Year Code Sales
($ millions)
2000 1 5
2001 2 7
2002 3 6
2003 4 10
2004 5 12
What is the sales forecast for 2005?
Q2. The owner of a car dealership wants to determine whether there is a relation between the income level and the type of vehicle purchased in their dealership. He randomly sampled 500 car buyers and obtained the following data:
Income Level SUV/Minivan Midsize Compact
up to $30K/yr 13 71 106
$30K-$60K 33 76 45
more than $60K/yr 66 59 31
At the .05 level of significance, determine whether there is a relation between the income level and the type of vehicle purchased. Show your work step by step.