Homework Help is Here – Start Your Trial Now!
Business
Operations Management
After graduation, you take a position at Top-Slice, a well-known manufacturer of golf balls. One of your duties is to forecast monthly demand for golf balls. Using the following data, you developed a regression model that expresses monthly sales as a function of average temperature for the month: Click the icon to view the additional data. a. Show how the â and ɓ values of - 337.0 and 88.9 were calculated. Calculate the slope coefficient, ɓ (enter your responses as whole numbers). (755)(63110) 4252000 Б 12 = 88.9 (755) 50665 12 Monthly sales - 337.0+88.9 × (average temperature) Calculate the intercept term, â (enter your responses rounded to one decimal place). â= 5259.2 -88.9 × 62.92 = - 337.0 b. Use the regression forecasting model to forecast total golf ball sales for June and July 2018. Average temperatures are expected to be 73 degrees in June and 82 degrees in July. The forecast of total golf ball sales for June 2018 is (Enter your response rounded to the nearest whole number.) More Info Monthly Sales Temperature March 2017 5,300 59 April 5,240 61 May 6,280 68 June 7,130 78 July 7,490 80 August 6,310 86 September 6,790 77 October 4,870 72 November 4,300 56 December 4,270 46 January 2018 February 2,940 35 2,190 37 Print Done - X

After graduation, you take a position at Top-Slice, a well-known manufacturer of golf balls. One of your duties is to forecast monthly demand for golf balls. Using the following data, you developed a regression model that expresses monthly sales as a function of average temperature for the month: Click the icon to view the additional data. a. Show how the â and ɓ values of - 337.0 and 88.9 were calculated. Calculate the slope coefficient, ɓ (enter your responses as whole numbers). (755)(63110) 4252000 Б 12 = 88.9 (755) 50665 12 Monthly sales - 337.0+88.9 × (average temperature) Calculate the intercept term, â (enter your responses rounded to one decimal place). â= 5259.2 -88.9 × 62.92 = - 337.0 b. Use the regression forecasting model to forecast total golf ball sales for June and July 2018. Average temperatures are expected to be 73 degrees in June and 82 degrees in July. The forecast of total golf ball sales for June 2018 is (Enter your response rounded to the nearest whole number.) More Info Monthly Sales Temperature March 2017 5,300 59 April 5,240 61 May 6,280 68 June 7,130 78 July 7,490 80 August 6,310 86 September 6,790 77 October 4,870 72 November 4,300 56 December 4,270 46 January 2018 February 2,940 35 2,190 37 Print Done - X

Practical Management Science
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...
See similar textbooks
icon
Related questions
Question
After graduation, you take a position at Top-Slice, a well-known manufacturer of golf balls. One of your duties is to forecast monthly demand for golf balls. Using the following data, you developed a regression model that expresses monthly sales as a function of average temperature for the month: Click the icon to view the additional data. a. Show how the â and ɓ values of - 337.0 and 88.9 were calculated. Calculate the slope coefficient, ɓ (enter your responses as whole numbers). (755)(63110) 4252000 Б 12 = 88.9 (755) 50665 12 Monthly sales - 337.0+88.9 × (average temperature) Calculate the intercept term, â (enter your responses rounded to one decimal place). â= 5259.2 -88.9 × 62.92 = - 337.0 b. Use the regression forecasting model to forecast total golf ball sales for June and July 2018. Average temperatures are expected to be 73 degrees in June and 82 degrees in July. The forecast of total golf ball sales for June 2018 is (Enter your response rounded to the nearest whole number.) More Info Monthly Sales Temperature March 2017 5,300 59 April 5,240 61 May 6,280 68 June 7,130 78 July 7,490 80 August 6,310 86 September 6,790 77 October 4,870 72 November 4,300 56 December 4,270 46 January 2018 February 2,940 35 2,190 37 Print Done - X
Transcribed Image Text:After graduation, you take a position at Top-Slice, a well-known manufacturer of golf balls. One of your duties is to forecast monthly demand for golf balls. Using the following data, you developed a regression model that expresses monthly sales as a function of average temperature for the month: Click the icon to view the additional data. a. Show how the â and ɓ values of - 337.0 and 88.9 were calculated. Calculate the slope coefficient, ɓ (enter your responses as whole numbers). (755)(63110) 4252000 Б 12 = 88.9 (755) 50665 12 Monthly sales - 337.0+88.9 × (average temperature) Calculate the intercept term, â (enter your responses rounded to one decimal place). â= 5259.2 -88.9 × 62.92 = - 337.0 b. Use the regression forecasting model to forecast total golf ball sales for June and July 2018. Average temperatures are expected to be 73 degrees in June and 82 degrees in July. The forecast of total golf ball sales for June 2018 is (Enter your response rounded to the nearest whole number.) More Info Monthly Sales Temperature March 2017 5,300 59 April 5,240 61 May 6,280 68 June 7,130 78 July 7,490 80 August 6,310 86 September 6,790 77 October 4,870 72 November 4,300 56 December 4,270 46 January 2018 February 2,940 35 2,190 37 Print Done - X
Expert Solution
steps

Step by step

Solved in 2 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS