a. Perform a regression analysis based on these data using Excel. Note: Negative values should be indicated by a minus sign. Round your answers to 4 decimal places. y bar = X 4 decimal places required. Forecasted sales Price + c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $275 per unit and the amount spent on advertising (in thousands) was $875. Note: Enter your answer in thousands. Round your intermediate calculations and final answer to 2 decimal places. thousand units advertising
a. Perform a regression analysis based on these data using Excel. Note: Negative values should be indicated by a minus sign. Round your answers to 4 decimal places. y bar = X 4 decimal places required. Forecasted sales Price + c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $275 per unit and the amount spent on advertising (in thousands) was $875. Note: Enter your answer in thousands. Round your intermediate calculations and final answer to 2 decimal places. thousand units advertising
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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Question
7

Transcribed Image Text:Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for
their line of company speakers. He is uncertain whether the unit price of the product or the effects of increased marketing are the
main drivers in sales and wants to use regression analysis to figure out which factor drives more demand for its particular market.
Pertinent information was collected by an extensive marketing project that lasted over the past 12 years and was reduced to the data
that follow:
YEAR
1
23456
7
8
9
10
11
12
UNIT SALES PRICE $ PER
UNIT
279
220
217
206
220
194
221
203
226
217
221
248
y bar =
(THOUSANDS)
375
675
875
1,296
1,148
1,175
875
1,106
972
1,239
874
805
a. Perform a regression analysis based on these data using Excel.
Note: Negative values should be indicated by a minus sign. Round your answers to 4 decimal places.
4 decimal places required.
Forecasted sales
+
X
ADVERTISING
($000)
616
830
1,106
1,403
1,204
1,296
874
1,106
695
874
695
695
Price
c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $275 per unit and
the amount spent on advertising (in thousands) was $875.
Note: Enter your answer in thousands. Round your intermediate calculations and final answer to 2 decimal places.
advertising
thousand units
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