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 Demand for Guitars 3 4 5 6 7 6 9 5 8 4 11 7 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 32+ 1.088 x c) The estimate for guitar sales if Maroon 5 performed on TV 10 times = 12.14 sales (round your response to two decimal places).
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 Demand for Guitars 3 4 5 6 7 6 9 5 8 4 11 7 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 32+ 1.088 x c) The estimate for guitar sales if Maroon 5 performed on TV 10 times = 12.14 sales (round your response to two decimal places).
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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Need both b and c
Transcribed Image Text:←
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
Demand for Guitars
3
4
5
6
7
8 4
D
5
6 9
11 7
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 .32 1.088 x
c) The estimate for guitar sales if Maroon 5 performed on TV 10 times = 12.14 sales (round your
response to two decimal places).
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