Issac Palanca, the General Manager of Orbit Group, Thinks That

Issac Palanca, the general manager of Orbit group, thinks that his firm's engineering services contracted to highway construction firms are directly related to the volume of highway construction business contracted with companies in his geographic area. He wonders if this is really so, and if it is, can this information help him plan his operation better by forecasting the quantity of his engineering services required by construction firms in each quarter of the year? The table below presents the sales of his services and the total amounts of contracts for highway construction over the last eight quarters:
$$\begin{array} { | c | c | c | } \hline \text { Quarter } & \text { Sales } & \begin{array} { c } \text { Contracts } \\\text { Released }\end{array} \\\hline 1 & 8 & 153 \\\hline 2 & 10 & 172 \\\hline 3 & 15 & 197 \\\hline 4 & 9 & 178 \\\hline 5 & 12 & 185 \\\hline 6 & 13 & 199 \\\hline 7 & 12 & 205 \\\hline 8 & 16 & 226 \\\hline\end{array}$$
A) Using this data, develop a regression equation for predicting the level of demand of Orbit group's services.
B) Determine the coefficient of correlation and the standard error of the estimate.