Essay
A company's sales in the period 2000 to 2011 along with the national income of the country, where the business is set up, are as below.
a. Develop a scatter chart for the above data. What does this chart indicate about the relationship between the National Income and the Company's sales in the period 2000 to 2011?
b. Use the data to develop an estimated regression equation that could be used to estimate the company's sales based on the national income. What is the estimated regression model?
A) Develop a scatter chart for the above datA) What does this chart indicate about the relationship between the National Income and the Company's sales in the period 2000 to 2011?
B) Use the data to develop an estimated regression equation that could be used to estimate the company's sales based on the national income. What is the estimated regression model?
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