Week 6

In an APA formatted Word document complete the following:

Why are forecasts important to organizations?

Explain the role of regression analysis in business decision-making. What are the important properties of regression coefficients? Distinguish between correlation and regression analysis.

What is the difference between a causal model and a time series model?

The following are our company's annual sales ($ million) data from 2015 to 2021. Use the trend equation to forecast sales for 2025.