I am trying to interpret this regression analysis When I use

I am trying to interpret this regression analysis. When I use predicted sales and actual sales, what do these results mean? Could somone please help explain this in fairly simple terms?

Solution

Answer: The fitted linear model as Y = aX + b

Where Y= Predicted sales values,

X= Actual sales values,

a = Coefficient of X

From above calculations we have a = 1.19958717 (Constant)

b = -8565.603014 (intercept-value)

n = 13 (obervations)

Where R² = 0.970804 ==> The fitted model is good by 97%

The model is given as ==> Y = (1.19958717) X + (-8565.603014)

P- Value = 0.528754947 ==> it means that if p>0.5, we accept that results are good.

Confidence Interval ==> (-37549.9124 , 20418.71321)