Arnold Tofu owns and operates a chain of 12 vegetable protein “hamburger” restaurants in northern Chicago area. Sales figures and profits for the stores are in the table below. Sales are given in millions of dollars; profits are in hundreds of thousands of dollars. Calculate a regression line for the data. What is your forecast of profit for a store with sales of $24 million? 30 millions? Store Sales Profits 1 6 14 2 3 11 3 5 15 4 5 16 5 15 24 6 18 28 7 17 22 8 12 21 9 15 26 10 20 43 11 14 34 12 5 9
Arnold Tofu owns and operates a chain of 12 vegetable protein “hamburger” restaurants in northern Chicago area. Sales figures and profits for the stores are in the table below. Sales are given in millions of dollars; profits are in hundreds of thousands of dollars. Calculate a regression line for the data. What is your forecast of profit for a store with sales of $24 million? 30 millions? Store Sales Profits 1 6 14 2 3 11 3 5 15 4 5 16 5 15 24 6 18 28 7 17 22 8 12 21 9 15 26 10 20 43 11 14 34 12 5 9
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 29P: The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building...
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- Arnold Tofu owns and operates a chain of 12 vegetable protein “hamburger” restaurants in northern Chicago area. Sales figures and profits for the stores are in the table below. Sales are given in millions of dollars; profits are in hundreds of thousands of dollars. Calculate a regression line for the data. What is your
forecast of profit for a store with sales of $24 million? 30 millions?
Store | Sales | Profits |
1 | 6 | 14 |
2 | 3 | 11 |
3 | 5 | 15 |
4 | 5 | 16 |
5 | 15 | 24 |
6 | 18 | 28 |
7 | 17 | 22 |
8 | 12 | 21 |
9 | 15 | 26 |
10 | 20 | 43 |
11 | 14 | 34 |
12 | 5 | 9 |
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