Discussion Post
• Why are forecasts important to organizations?
• Explain the role of regression analysis in business decision-making. What are the important properties of regression coefficients? Distinguish between correlation and regression analysis.
• What is the difference between a causal model and a time series model?
The following are our company's annual sales ($ million) data from 2015 to 2021. Use the trend equation to forecast sales for 2025.
|
Year
|
2015
|
2016
|
2017
|
2018
|
2019
|
2020
|
2021
|
|
Sales $000,000
|
16
|
17
|
25
|
28
|
32
|
43
|
50
|
The response must include a reference list. One-inch margins, double-space, Using Times New Roman 12 pnt font and APA style of writing and citations.