Q1) Robert wishes to know if there is relation between money spent on gambling and winnings
Money spent
|
Money won
|
16
|
330
|
12
|
270
|
18
|
380
|
14
|
300
|
1) Determine equation of regression line relating money spent (x) and money won (y).
If he spent $15, how much can he expect to win?
Q2) Provided following data on number of pints of ice sold at local ice cream store for 6-period time frame:
Period Demand
1 200
2 245
3 190
4 270
5 280
6 300
a) Calculate a 3-period moving average for period 7
b) Compute the MAD of the forecast