A finance manager employed by an automobile dealership belie

A finance manager employed by an automobile dealership belie.
A finance manager employed by an automobile dealership believes that the number of cars sold in his local market can be predicted by the interest rate charged for a loan. Interest Rate (%) Number of Cars Sold (100s) 3 10 5 7 6 5 8 2 The finance manager performed a regression analysis of the number of cars sold and interest rates using the sample of data above. Shown below is a portion of the regression output. Regression Statistics Multiple R 0.998868 R2 0.997738 Coefficient Intercept 14.88462 Interest Rate -1.61538 Specially, the following critical elements must be addressed;Main elements:Are there factors other than interest rate charged for a loan that the finance manager should consider in predicting future car sales? Integration and Application:Is interest rate charged for a loan the most important factor to be considered in predicting future car sales? Explain your reasoning. The dealership s vice-president of marketing has requested a sales forecast at the prevailing interest rate of 7%.Analysis:As finance manager, what reasons would you convey to the vice-president in recommending this forecasting model?Critical ThinkingIs the prediction of car sales at 7% a reflection of the current downturn in the economy? How might this impact the dealership s business?Analysis of this scenario should be 1-2 page Microsoft word document with double spacing and 12 point Times New Roman font
A finance manager employed by an automobile dealership belie