Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary hasgathered the following data, which show the numbers of these coffees sold over six different price values:ITPriceNumber Sold$2.60$3.60$2.00$4.20$3.10$4.00770505975250315490Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will becups (enter your response rounded toone decimal place).

Given data: X Y 2.60 770 3.60 505 2.00 975 4.20 250 3.10 315 4.00 490 19.50 3305

Answered: Café Michigan's manager, Gary Stark,…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price $2.70 $3.50 $2.10 $4.10 $3.10 $4.05 Number Sold 765 515 990 245 320 480 Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place).
The following data are for calculator sales in units at an electronics store over the past nine weeks: Week Sales Week Sales 45 6 53 50 7 59 44 8 59 51 64 57 Use trend projection with regression to forecast sales for weeks 10 - 13. What are the error measures (CFE, MSE, G. MAD, and MAPE) for this forecasting procedure? How about ?? Obtain the trend projection with regression forecast for weeks 10 - 13. (Enter your responses rounded to two decimal places.) Period Forecast, F 10 64.81 11 67.06 12 69.31 13 71.56 Obtain the error measures. (Enter your responses rounded to two decimal places.) CFE MSE MAD MAPE 6.72 2.75 2.1 4.1 % Find the coefficient of determination (). The coefficient of determination ? = (Enter your response rounded to two decimal places.)
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The following data are for calculator sales in units at an electronics store over the past nine weeks: Week Sales Week Sales 1 45 6. 53 2 50 7 59 3 44 59 4 51 9 64 5 57 Use trend projection with regression to forecast sales for weeks 10 - 13. What are the error measures (CFE, MSE, G. MAD, and MAPE) for this forecasting procedure? How about ? Obtain the trend projection with regression forecast for weeks 10 - 13. (Enter your responses rounded to two decimal places.) Period Forecast, F, 10 11 12 13
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: D Price $2.50 $3.40 $2.10 $4.30 $3.00 $4.10 Using simple linear regression and given that the price per cup is $1.75, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place). Number Sold 765 515 975 245 315 480
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Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price $2.50 $3.40 $1.90 $4.10 $3.20 $4.00 Number Sold 770 510 975 240 315 475 Using simple linear regression and given that the price per cup is $1.75, the forecasted demand for mocha latte coffees will be (enter your response rounded to one decimal place). cups

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