Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the populargroup Maroon 5 during the previous month. Gershon has collected the data shown in the following table:Maroon 5 TV AppearancesDemand for Guitars4Y =345D56 7 77 4 10 6This exercise contains only parts b, c, and d.b) Using the least-squares regression method, the equation for forecasting is (round your responses to four decimal places):= 0+0x This exercise contains only parts b, c, and d.b) Using the least-squares regression method, the equation for forecasting is (round your responses to four decimal places):Y = -0.6856 + 1.1461 xc) The estimate for guitar sales if Maroon 5 performed on TV 11 times = 11.9215 sales (round your response to two decimal places).d) The correlation coefficient (r) for this model = 0.7160 (round your response to four decimal places).The coefficient of determination (2) for this model = 0.5127 (round your response to four decimal places).The percentage of variation in sales that can be explained by TV appearances = 51.27 % (round your response to two decimal places).

Answered: Mark Gershon, owner of a musical…

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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