answer a,b,c and d (show your solution) Mark Gershon, owner of a musical instrument distributorship, thinks that demandfor guitars may be related to the number of television appearances by the populargroup Maroon 5 during the previous month. Mark has collected the data shown inthe following table:Demand for Guitars75107Maroon 5 TV Appearances348a. Graph these data to see whether a linear equation might describe therelationship between the group's television shows and guitar sales.b. Use the least-squares regression method to derive a forecasting equation.c. What is your estimate for guitar sales if Maroon 5 performed on TV ninetimes last month?d. What are the correlation coefficient (r) and the coefficient ofdetermination (r) for this model, and what do they mean? PxThe result should be Forecast = 9.93

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b. Use the least-squares regression method to derive a forecasting equation. c. What is your estimate for guitar sales if Maroon 5 performed on TV nine times last month? d. What are the correlation coefficient (r) and the coefficient of determination (r²) for this model, and what do they mean? PX

b. Use the least-squares regression method to derive a forecasting equation. c. What is your estimate for guitar sales if Maroon 5 performed on TV nine times last month? d. What are the correlation coefficient (r) and the coefficient of determination (r²) for this model, and what do they mean? PX

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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answer a,b,c and d (show your solution)

Mark Gershon, owner of a musical instrument distributorship, thinks that demand
for guitars may be related to the number of television appearances by the popular
group Maroon 5 during the previous month. Mark has collected the data shown in
the following table:
Demand for Guitars
7
5
10
7
Maroon 5 TV Appearances
3
4
8
a. Graph these data to see whether a linear equation might describe the
relationship between the group's television shows and guitar sales.
b. Use the least-squares regression method to derive a forecasting equation.
c. What is your estimate for guitar sales if Maroon 5 performed on TV nine
times last month?
d. What are the correlation coefficient (r) and the coefficient of
determination (r) for this model, and what do they mean? Px
The result should be Forecast = 9.93

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