Answer
If we neglect the 2005 outlier, then r = 0.628; hence, $r^{2} = 0.394$. Thus, only 39.4% variation is explained by the regression line, which is not accurate. We can conclude that the forecasts are not accurate.
Work Step by Step
In Minitab, select Basic statistics from the stats menu, and then select correlation.
Select scatter plot from graphs menu, and then select the groups option.
