7 Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand fortheir line of company speakers. He is uncertain whether the unit price of the product or the effects of increased marketing are themain 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 datathat follow:YEAR123456789101112UNIT SALES PRICE $ PERUNIT279220217206220194221203226217221248y bar =(THOUSANDS)3756758751,2961,1481,1758751,1069721,239874805a. 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+XADVERTISING($000)6168301,1061,4031,2041,2968741,106695874695695Pricec. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $275 per unit andthe 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.advertisingthousand units

One of the methods by which the organizations can make forecasts is the regression analysis. It…

Answered: a. Perform a regression analysis based…

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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