Consider the Following Annual Sales Data for 2001-2008 -Calculate the Coefficient of Determination

question 86

Short Answer

Consider the following annual sales data for 2001-2008:
$$\begin{array} { | c | c | } \hline \text { Year } & \text { Sales } \\\hline 2001 & 2 \\\hline 2002 & 4 \\\hline 2003 & 10 \\\hline 2004 & 8 \\\hline 2005 & 14 \\\hline 2006 & 18 \\\hline 2007 & 17 \\\hline 2008 & 20 \\\hline\end{array}$$
-Calculate the coefficient of determination.

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Definitions:

Canada Revenue Agency

The federal agency responsible for administering tax laws for the Canadian government and various provinces and territories, as well as overseeing various social and economic benefit and incentive programs through taxation.

Income Tax Return

A document filed with the government that reports income, expenses, and other pertinent tax information.

Depreciation Method

A systematic approach used to allocate the cost of a tangible asset over its useful life, reflecting consumption, wear and tear, or obsolescence of the asset.

Units-of-Production Method

A depreciation method where the expense is based on the asset's usage, output, or units produced, rather than time.