Alocal building products store has accumulated sales data for 2 x 4 lumber (in board feet) and the number of building permits in its area for the past 10 quarters: quarter building permits x lumber sales (1000s of board feet) 1 8 12.6 2 12 16.3 3 7 9.3 4 9 11.5 5 15 18.1 6 6 7.6 7 5 6.2 8 8 14.2 9 10 15.0 10 12 17.8 a) develop a linear regression model for these data and determine the strength of the linear relationship using correlation. (15 points) b) if the model appears to be relatively strong, determine the forecast for lumber given ten building permits in the next quarter. (10 points)
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Alocal building products store has accumulated sales data for 2 x 4 lumber (in board feet) and the n...
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