Forecasting Consumer Demand using Regression

Forecasting Consumer Demand using Regression Purpose: The purpose of this assignment is to learn how to do regression analysis, a powerful statistical tool, as one way to predict future demand Background/Scenario: This critical thinking data set contains a number of years of a firm's sales history. This assignment will require Excel, with a “Data Analysis” add-in installed. This can be downloaded from the Web, in about 5 minutes, OR a video lecture in Module 2 describes how to possibly find it on your computer already. Assignment: Students are required to perform regression analysis and answer the specific questions below. a. Identify the independent and dependent variables b. Provide a scattergraph, including the trend line of the data c. Provide a copy of the Excel regression output d. Write out the regression model, making sure to include the constant or intercept, and the X coefficient e. In sentence form, interpret the regression model from part c above f. Interpret the constant or intercept g. Interpret the X coefficient h. Interpret the f-statistic i. Interpret the adjusted R2 score j. What would be the predicted sales of autos, if the population was 400 million? Show your work Deliverable: A Word document answering questions a,d-j, AND including a copy and pasted scattergraph [b above], and regression results from Excel[c above] https://www.youtube.com/watch?v=EIS4Tf4Pdho&list=PLnb-HrI2AV_3JQtemGMPRd0Qfnm8eqeQH&t=7s https://www.youtube.com/watch?v=P9jQE456ubw&list=PLnb-HrI2AV_3JQtemGMPRd0Qfnm8eqeQH&t=1s