Math Problem Statement
The data below represents an international corporation's internal estimates of sales (in thousands of dollars) in the coming year over time (in weeks). Use a linear regression to model the data. Round all your coefficients to three decimal places. Then use a residual plot to determine if your model is a good fit.
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Linear Regression
Residual Analysis
Statistical Modeling
Formulas
y = mx + b (linear regression formula)
Residual = Observed - Predicted
Theorems
Least Squares Method
Suitable Grade Level
College Level