Using the information in the attached excel spreadsheet showing Harmon Food sales up through December 1986, build a sales forecasting model to forecast sales for each of the twelve months of 1987.
Interpret what the following numbers mean:
1) Standard Error of the regression,
3) Intercept of the regression equation,
4) Coefficient of January,
5) Coefficient of consumer packs and dealer allowances.
What is the average forecast error over 1987? Are there any "missing" variables that might improve the forecast?
The question belongs to Statistics and it discusses about calculation of regression, standard error of regression, interception of regression equation and coefficient of consumer packs and dealer allowances for the given data.
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