A company has recorded the 12 months of sales data for the past year. It wishes to use the regression approach to develop a trend-based approach for forecasting future months. The following data are provided:
Month Sales
1 200
2 260
3 210
4 340
5 450
6 230
7 300
8 500
9 360
10 600
11 460
12 700
Based on this information, which of the following is forecast for month 15?
A) Approximately 692
B) About 596
C) Just over 825
D) None of the above
Question 2
Which of the following is an advantage of using stepwise regression compared to just entering all the independent variables at one time?
A) Stepwise will generally produce a model with a larger R-square value.
B) The standard error of the estimate for a model constructed with stepwise regression will be larger than the one generated when all variables are entered at the same time.
C) The stepwise regression allows the decision maker to observe the effects of multicollinearity more easily than when all the variables are entered at one time.
D) There are no advantages of using stepwise regression over entering all variables at one time.
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