Consider the below data which is based on a company’s sales in Year 1 through Year 12 along with the national income of the country, where the business is set up. Year National Income (in millions of dollars) x Company's sales (in thousands of dollars) y Year 1 305 470 Year 2 316 485 Year 3 358 499 Year 4 350 515 Year 5 375 532 Year 6 392 532 Year 7 400 556 Year 8 398 576 Year 9 430 583 Year 10 456 587 Year 11 578 601 Year 12 498 605 Develop a simple linear regression equation to predict the company's sales (Y), given the national income (X). Model: Y= B0 +B1X1) Copy and paste your Regression output in here 2) How much variation in the sample values of company’s sales is explained by this regression model

1) The data was run on excel to find the linear regression model. The summary of results is attached. The coefficients value against intercept is the Y-intercept or B0 value. The coefficients value againts National Income is the gradient of the equation or B1.

2) the R square value explains the degree of variation or how much variation is explained by the equation. Here this value is 0.79859 or 79.9%.

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