A rendering plant wishes to use the data (sales records from a few local businesses and the month of the year) to help determine their supply level for the coming months. The records shown in the table provide an excellent opportunity for you to assist them with their forecasting.
$$\begin{array} { | c | c | c | }
\hline \text { Month } & \text { Sales } & \text { Pounds } \
\hline \text { Tanuary } & 45 & 54.3 \
\hline \text { February } & 57 & 63.8 \
\hline \text { March } & 32 & 39.5 \
\hline \text { April } & 44 & 49.8 \
\hline \text { May } & 51 & 52.3 \
\hline \text { Tune } & 34 & 39.9 \
\hline
\end{array}$$
-What are the salient performance statistics for the simple regression model that predicts the level of Pounds by the number of the month the company is in (with January=1)? Provide an interpretation.

Question

A rendering plant wishes to use the data (sales records from a few local businesses and the month of the year) to help determine their supply level for the coming months. The records shown in the table provide an excellent opportunity for you to assist them with their forecasting.
 $$\begin{array} { | c | c | c | } 
\hline \text { Month } & \text { Sales } & \text { Pounds } \
\hline \text { Tanuary } & 45 & 54.3 \
\hline \text { February } & 57 & 63.8 \
\hline \text { March } & 32 & 39.5 \
\hline \text { April } & 44 & 49.8 \
\hline \text { May } & 51 & 52.3 \
\hline \text { Tune } & 34 & 39.9 \
\hline
\end{array}$$
-What are the salient performance statistics for the simple regression model that predicts the level of Pounds by the number of the month the company is in (with January=1)? Provide an interpretation.

Quizplus · Accepted Answer

The Answer of A rendering plant wishes to use the data (sales records from a few local businesses and the month of the year) to help determine their supply level for the coming months. The records shown in the table provide an excellent opportunity for you to assist them with their forecasting.
 $$\begin{array} { | c | c | c | } 
\hline \text { Month } & \text { Sales } & \text { Pounds } \
\hline \text { Tanuary } & 45 & 54.3 \
\hline \text { February } & 57 & 63.8 \
\hline \text { March } & 32 & 39.5 \
\hline \text { April } & 44 & 49.8 \
\hline \text { May } & 51 & 52.3 \
\hline \text { Tune } & 34 & 39.9 \
\hline
\end{array}$$
-What are the salient performance statistics for the simple regression model that predicts the level of Pounds by the number of the month the company is in (with January=1)? Provide an interpretation.

A Rendering Plant Wishes to Use the Data (Sales Records