You work for a company in the marketing department. Your manager has tasked you

Question

You work for a company in the marketing department. Your manager has tasked you with forecasting sales by month for the next year. You notice that over the past 12 months sales have consistently gone up in a linear fashion, so you decide to run a regression the company's sales history. If 10 months are sampled and the regression output is given below, report the regression equation. (time) = 19.486*(sales) + 423.2 (sales) = 423.2*(time) + 19.486 (sales) = 19.486*(time) + 423.2 (time) = 423.2*(sales) + 19.486 (sales) = 19.486*(time)

Explanation / Answer

Correct option:

3) (sales) = 19.486 * (time) + 423.2

EXPLANATION:

Here

independent variable = x = time

dependent variable = y = sales

Constant = c = 423.2

Slope = m =19.486

So, the equation is:

y = mx + c

i.e.,

sales = 19.486 time + 423.2

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