Global Bikes Inc. (a bicylce manufacturing firm) collected the following data during a study of consumer buying patterns.Observation1234567y=Xy157028793889358649 97429730 82y =Observation0.721 +1890123a. Create a linear regression line (equation) for the data.(Round your Intermediate calculations and final answers to 3 decimalplaces.)X14161424212963.229 Xy827068848391b. Use the equation determined in part b to predict the expected value of y for x = 49. (Round your Intermediate calculations andfinal answers to 3 decimal places.)

Answered: Global Bikes Inc. (a bicylce…

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

Similar questions

Pls answer b and c
Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR January 315 February 418 March 390 April 430 May 400 [ June 480 July 430 August 320 September 385 October 530 November 592 555 December 300 400 350 460 390 395 355 245 340 Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Do the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.) Forecast for the fourth quarter
snip
Tucson Machinery, Inc., manufactures numerically controlled machines, which sell for an average price of $14.0 million each. Sales for these NCMs for the past two years were as follows: Use Exhibit 3.10. QUARTER LAST YEAR I II III IV QUANTITY (UNITS) Y = 14 20 28 18 QUARTER THIS YEAR I II III IV QUANTITY (UNITS) 20 26 30 15 a. Find the equation of a simple linear regression line using Excel. (Round your answers to 3 decimal places.) > Answer is complete but not entirely correct. 18.535 X + 0.630 t
Please help with correct answers: step by step: last time submitted- answers were incorrect A statistical program is recommended. The quarterly sales data (number of copies sold) for a college textbook over the past three years follow. Quarter Year 1 Year 2 Year 3 1 1,690 1,800 1,850 2 940 900 1,100 3 2,625 2,900 2,930 4 2,500 2,360 2,615 a) Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. (Round your numerical values to the nearest integer.) Qrt1 = 1 if quarter 1, 0 otherwise; Qrt2 = 1 if quarter 2, 0 otherwise; Qrt3 = 1 if quarter 3, 0 otherwise t = b) Using the equation developed in part (b), compute the quarterly forecasts for year 4. (Round your answers to the nearest ten.) quarter 1 forecast____? quarter 2 forecast____? quarter 3 forecast ____? quarter 4 forecast ____? c) Let t = 1 refer to the observation in Quarter 1 of Year 1; let t = 2 refer to the observation in Quarter 2 of Year…
Consider the following time series data. Quarter Year 1 Year 2 Year 3 1 4 6 7 2 2 3 6 3 3 5 6 4 5 7 8 a. Construct a time series plot. What type of pattern exists in the data? Trend Pattern Seasonal Pattern Horizontal Pattern O Trend and Seasonal Pattern Question 11 5 pts b. Create the following dummy variables: Qtr1 = 1 if quarter 1, 0 otherwise; Qtr2 = 1 if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise. Create a variable t such that t = 1 for quarter 1 of year 1, t = 2 for quarter 2 of year 1, ..., t = 12 for quarter 4 of year 3. Use these dummy variables and t to develop an estimated regression equation to account for seasonal effects and any linear trend in the data. What is the forecast for quarter 1 of next year?
data table below shows the number of computers sold at the Best Buy Store in a week, based on online ads. Online Ad Computers Sold 2 25 1 10 4 30 1 10 2 25 sigma)x=10 sigma)y=100 draw the graph of the regression equation, showing the slope and y intercepts?
What is 'forecasting error'? What are the metrics used in measuring forecasting errors?
Please answer this simple question
Hi, I need help with solving for the following values (boxed). Thank you.
The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Jan Feb Mar AprMonth 1 2 3 4Number of Accidents 25 40 60 105 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places): y = ? + ?x
Use a graphing calculator to create a scatter plot and find the line of best fit and the correlation coefficient for the following data. Round to the nearest hundredth. X 5 10 15 20 25 30 35 y 1,800 1,750 1,590 1,490 1,400 1,275 1,010

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

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

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

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…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS