Problem -
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. Mark has collected the data shown in the following table:
|
Demand for Guitars
|
3
|
6
|
7
|
5
|
10
|
7
|
|
Maroon 5 TV Appearances
|
3
|
4
|
7
|
6
|
8
|
5
|
a) Graph these data to see whether a linear equation might describe the relationship between the group's television shows and guitar sales.
b) Use the least-squares regression method to derive a forecasting equation.
c) What is your estimate for guitar sales if Maroon 5 performed on TV nine times last month?
d) What are the correlation coefficient (r) and the coefficient of determination (r2) for this model, and what do they mean?