DeShon has just become the new marketing analyst for a company that produces vinyl siding for homes. In an effort to forecast his firm's sales for the coming year, he needs to find where the greatest opportunities are for selling his product. DeShon looks at the sales for the last five years and calculates a growth trend. He then collects data from a combination of other factors, such as population density, family size, home ownership, and per capita income. Finally, DeShon looks at the correlation between the sales trend data and the various combination of demographic data. DeShon is employing the forecasting method for the sales growth trend and the ____ method for the correlation.

Time Series Analysis is used for forecasting future sales. Time series analysis uses the past data to incorporate past trends to make a forecast that truly representative of the population choosed. Whereas on the other hand, Regression Analysis is used to check to what extent a variable is correlated to the other. Regression analysis tells if one variable changes then what the effect on the other variable will be due to this change.