Homework Help is Here – Start Your Trial Now!
Math
Statistics
Hiroshi Sato, an owner of a sushi restaurant in San Francisco, has been following an aggressive marketing campaign to thwart the effect of rising unemployment rates on business. He used monthly data on sales ($1,000s), advertising costs ($), and the unemployment rate (%) from January 2008 to May 2009 to estimate the following sample regression equation: Sales(t) = 17.51 +0.05 Advertising Costs(t-1) – 0.70 Unemployment Rate t-1 Requirement: a. Hiroshi had budgeted $620 toward advertising costs in May 2009. Make a forecast in June 2009, if the unemployment rate in May 2009 was 9.1% b. What will be the forecast if he raises his advertisement budget to $700? c. Reevaluate the above forecast if the unemployment rate in May 2009 was 9.5%.

Hiroshi Sato, an owner of a sushi restaurant in San Francisco, has been following an aggressive marketing campaign to thwart the effect of rising unemployment rates on business. He used monthly data on sales ($1,000s), advertising costs ($), and the unemployment rate (%) from January 2008 to May 2009 to estimate the following sample regression equation: Sales(t) = 17.51 +0.05 Advertising Costs(t-1) – 0.70 Unemployment Rate t-1 Requirement: a. Hiroshi had budgeted $620 toward advertising costs in May 2009. Make a forecast in June 2009, if the unemployment rate in May 2009 was 9.1% b. What will be the forecast if he raises his advertisement budget to $700? c. Reevaluate the above forecast if the unemployment rate in May 2009 was 9.5%.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question

Hiroshi Sato, an owner of a sushi restaurant in San Francisco, has been following an aggressive marketing campaign to thwart the effect of rising unemployment rates on business. He used monthly data on sales ($1,000s), advertising costs ($), and the unemployment rate (%) from
January 2008 to May 2009 to estimate the following sample regression equation:

Sales(t) = 17.51 +0.05 Advertising Costs(t-1) – 0.70 Unemployment Rate t-1

Requirement:

a. Hiroshi had budgeted $620 toward advertising costs in May 2009. Make a forecast in June
2009, if the unemployment rate in May 2009 was 9.1%
b. What will be the forecast if he raises his advertisement budget to $700?
c. Reevaluate the above forecast if the unemployment rate in May 2009 was 9.5%. 

 

Please, if possible, can you do the answer in Excel/Spreadsheet

ЗВ (15%) Hiroshi Sato, an owner of a sushi restaurant in San Francisco, has been following an aggressive marketing campaign to thwart the effect of rising unemployment rates on business. He used monthly data on sales ($1,000s), advertising costs ($), and the unemployment rate (%) from January 2008 to May 2009 to estimate the following sample regression equation: Sales, = 17.51 +0.05 Advertising Costs-1 – 0.70 Unemployment Rate.1 Hiroshi had budgeted $620 toward advertising costs in May 2009. Make a forecast in June 2009, if the unemployment rate in May 2009 was 9.1% b. What will be the forecast if he raises his advertisement budget to $700? c. Reevaluate the above forecast if the unemployment rate in May 2009 was 9.5%. а.
Transcribed Image Text:ЗВ (15%) Hiroshi Sato, an owner of a sushi restaurant in San Francisco, has been following an aggressive marketing campaign to thwart the effect of rising unemployment rates on business. He used monthly data on sales ($1,000s), advertising costs ($), and the unemployment rate (%) from January 2008 to May 2009 to estimate the following sample regression equation: Sales, = 17.51 +0.05 Advertising Costs-1 – 0.70 Unemployment Rate.1 Hiroshi had budgeted $620 toward advertising costs in May 2009. Make a forecast in June 2009, if the unemployment rate in May 2009 was 9.1% b. What will be the forecast if he raises his advertisement budget to $700? c. Reevaluate the above forecast if the unemployment rate in May 2009 was 9.5%. а.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS