Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5during the previous month. Gershon has collected the data shown in the following table:Maroon 5 TV AppearancesDemand for Guitars3 3 83 5 6c) The estimate for guitar sales if Maroon 5 performed on TV 10 times =5 9 64 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):Y = 1.0852 +0.8085¹xsales (round your response to two decimal places).

I have solved this problem using Excel and Here are the Excel formulas:

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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Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table: Maroon 5 TV Appearances 3 4 8 6 7 7 Demand for Guitars 4 6 7 5 10 6 This exercise contains only parts b, c, and d. Part 2 b) Using the least-squares regression method, the equation for forecasting is (round your responses to four decimal places): Y = enter your response here + enter your response herex
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4. The yearly demand for units manufactured by the Orion Company Limited has been as follows:Year Units Year Units1 520 5 8602 830 6 9403 520 7 9904 750 8 850Required:i. Prepare a forecast for year 5 through 8 by using a three-year simple moving average.What is the forecast for year 9?ii. Calculate the Cumulative Frequency Error (CFE), Mean Absolute Deviation (MAD),Mean Squared Error (MSE), and Mean Absolute Percentage Error (MAPE) as at the endof year 8.
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