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The following problem is concerned with Regression with Time Series Data (Chapter 8) of Business Forecasting Methods 9th edition.

The following problem is concerned with Regression with Time Series Data (Chapter 8) of Business Forecasting Methods 9th edition.


ABC Corporation is developing a forecasting model for the projection of future sales, the manager has chose Average Weekly Earning and Consumer Price Index as possible predictor variables.

  1. (1) Conduct regression analysis on Sales versus Average Weekly Earning & Consumer Price Index. Should include Durbin-Watson Statistics.
  2. (2) Explain the results. You need to go over the meanings of all values in the output table and draw conclusions. Must show sufficient analysis of results.
  3. (3) Forecast sales for Year 2018.


I have attached the document where you will find the information that I will be analyzing. I am having a hard time figuring out what to do with the CPI, and whether I need to use it for adjusting the sales in millions and average weekly sales. 9910.jpg

9910.jpg

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