In an APA formatted Word document complete the following:
Why are forecasts important to organizations?
Explain the role of regression analysis in business decision-making. What are the important properties of regression coefficients? Distinguish between correlation and regression analysis.
What is the difference between a causal model and a time series model?
The following are our company's annual sales ($ million) data from 2015 to 2021. Use the trend equation to forecast sales for 2025.
|
Year |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
|
Sales $000,000 |
16 |
17 |
25 |
28 |
32 |
43 |
50 |
