1. Which do you think shall serve as independent variable? How about dependent variable? Why? 2. Draw a scatterplot depicting the relationship between time and sale 3. Determine each of the following: a. n
1. Which do you think shall serve as independent variable? How about dependent variable? Why? 2. Draw a scatterplot depicting the relationship between time and sale 3. Determine each of the following: a. n
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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![Sample Problem: Estimate the demand function for the case below.
The manager of a jeans manufacturing company knows that a large budget tot
television advertising of the company's product will create a demand among
buyers in their boutiques found in malls. The following table shows the pesos
(in thousands) spent for advertising the line of jeans over the past eight years
and the number of pairs of jeans sold (in thousand).
Amount in Pesos spent on
Number of pairs of pants
sold (in 000s)
Year
TV Advertisng (in 000s)
2010
P500.00
45
2011
P650.00
60
2012
P750.00
80
2013
P1000.00
95
2014
P1250.00
120
2015
P1400.00
150
2016
P1700.00
145
2017
P1950.00
190](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F41a71aa8-201c-4a87-9a82-7aaf8bb30f20%2F44f4475d-7b27-4ec7-930f-da83f197543b%2Ftunlee6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Sample Problem: Estimate the demand function for the case below.
The manager of a jeans manufacturing company knows that a large budget tot
television advertising of the company's product will create a demand among
buyers in their boutiques found in malls. The following table shows the pesos
(in thousands) spent for advertising the line of jeans over the past eight years
and the number of pairs of jeans sold (in thousand).
Amount in Pesos spent on
Number of pairs of pants
sold (in 000s)
Year
TV Advertisng (in 000s)
2010
P500.00
45
2011
P650.00
60
2012
P750.00
80
2013
P1000.00
95
2014
P1250.00
120
2015
P1400.00
150
2016
P1700.00
145
2017
P1950.00
190
![Here are some guide questions that will help you determine the demand
function:
1. Which do you think shall serve as independent variable? How
about dependent variable? Why?
2. Draw a scatterplot depicting the relationship between time and sales.
3. Determine each of the following:
a.
72
totaloF
Ey?
b.
tubloF
C.
Exy"
d.
e.
£ (Ex)* =
h. y
1.
j.
1 Develop the demand equation using your answers in part 2.
Interpret coefficients a and B.
4. Forecast the demand for 2018, 2019, and 2020 based on the demand
function that you have estimated.
11](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F41a71aa8-201c-4a87-9a82-7aaf8bb30f20%2F44f4475d-7b27-4ec7-930f-da83f197543b%2Fhz7iyuk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Here are some guide questions that will help you determine the demand
function:
1. Which do you think shall serve as independent variable? How
about dependent variable? Why?
2. Draw a scatterplot depicting the relationship between time and sales.
3. Determine each of the following:
a.
72
totaloF
Ey?
b.
tubloF
C.
Exy"
d.
e.
£ (Ex)* =
h. y
1.
j.
1 Develop the demand equation using your answers in part 2.
Interpret coefficients a and B.
4. Forecast the demand for 2018, 2019, and 2020 based on the demand
function that you have estimated.
11
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