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A firm has discovered that its sales are highly correlated to a certain economic parameter. The...

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Mechanical Engineering

A firm has discovered that its sales are highly correlated to acertain economic parameter. The value for that parameter has beenpredicted to be 15 for the next year (7th year). Useregression modeling to develop a forecast for the next year.

Year

1

2

3

4

5

6

Econ. Parameter

16.2

14.9

18.5

16.1

13.8

15.4

# Sales

120

100

165

140

100

110

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