Colin Alexander is a new supply chain analyst at Glade Computers. Glade is expanding its use of analytics and wants to use linear regression to construct predictive models to assist management. Colin, eager to make a good impression with his manager, volunteered to develop a model for the company's Warranty Costs (pesos) as a function of Quality Investment (pesos). Using the data in the table below, find the regression coefficients for the specified model. Warranty Costs Quality investment 47221.27 3556.63 32679.91 9599.42 35934.66 8254.17 42838.83 4606.78 33819.13 8953.61 40290.11 6275.81 54037.5 715.85 38182.87 7522.7 41644.44 6139.73 36203.05 8425.02 49586.83 2247.01 52924.74 2596.26 35566.24 9696.06 34068.8 9326.79 53011.8 1719.7 36941.07 9393.6 Enter answers to 2 decimal places. Bo: B1: Enter answers to 4 decimal places. (Intercept) Standard Error: (Intercept) p-value:

Colin Alexander is a new supply chain analyst at Glade Computers. Glade is expanding its use of analytics and wants to use linear regression to construct predictive models to assist management. Colin, eager to make a good impression with his manager, volunteered to develop a model for the company's Warranty Costs (pesos) as a function of Quality Investment (pesos). Using the data in the table below, find the regression coefficients for the specified model. Warranty Costs Quality investment 47221.27 3556.63 32679.91 9599.42 35934.66 8254.17 42838.83 4606.78 33819.13 8953.61 40290.11 6275.81 54037.5 715.85 38182.87 7522.7 41644.44 6139.73 36203.05 8425.02 49586.83 2247.01 52924.74 2596.26 35566.24 9696.06 34068.8 9326.79 53011.8 1719.7 36941.07 9393.6 Enter answers to 2 decimal places. Bo: B1: Enter answers to 4 decimal places. (Intercept) Standard Error: (Intercept) p-value:

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.4: Multiple Regression Models

Problem 14P: An antique collector believes that the price received for a particular item increases with its age...

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Concept explainers

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.

Question

Warranty Costs	Quality investment
47221.27	3556.63
32679.91	9599.42
35934.66	8254.17
42838.83	4606.78
33819.13	8953.61
40290.11	6275.81
54037.5	715.85
38182.87	7522.7
41644.44	6139.73
36203.05	8425.02
49586.83	2247.01
52924.74	2596.26
35566.24	9696.06
34068.8	9326.79
53011.8	1719.7
36941.07	9393.6

Enter answers to 2 decimal places.
Bo:
B1:
Enter answers to 4 decimal places.
(Intercept) Standard Error:
(Intercept) p-value:
Residual standard error:
R^2:

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