Using the coeffficients found in the regression estimate, Ask an Expert

Economics

(a) Estimate the regression in Problem 5 based on Table 5-6 using Excel's regression function in the data Analysis menu.

(b) Using the coeffficients found in the regression estimate, enter a formula based in cells C6 through J6 to forecast the sales revenue when quality control goes from $2million to $9million a year.

(c) Graph both the actual data and the forecast using the graphing tool. Does the forecast vary much from the actual data?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9466434

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