Mark Gershon, owner of a musical instrument distributorship, thinks that demand

Question

Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table: This exercise contains only parts b. c. and d. b) Using the least-squares regression method, the equation for forecasting is (round your responses to four decimal places): c) The estimate for guitar sales if Maroon 5 performed on TV 9 times = sales (round your response to two decimal places). d) The correlation coefficient (r) for this model = (round your response to four decimal places). The coefficient of determination {r2) for this model =_(round your response to four decimal places). The percentage of variation in sales that can be explained by TV appearances =_% (round your response to two decimal places).

Explanation / Answer

b) Y = 0.2884+ 0.9807X

c) if X = 9,

Y =  0.2884+ 0.9807*9 = 9.1147 = 9

d) r= 0.7786

r^2 = 0.6063

percentage variation explained = r^2 = 60.63%

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