145) help with this please!! Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand fortheir line of company speakers. He is uncertain whether the unit price of the product or the effects of increased marketing are themain drivers in sales and wants to use regression analysis to figure out which factor drives more demand for its particular market.Pertinent information was collected by an extensive marketing project that lasted over the past 12 years and was reduced to the datathat follow:HEERLESENEYEAR129101112UNIT SALES(THOUSANDS)3976978971,2801,1541,1878971,117990y bar:1,333925819PRICE $/UNIT281220207211220208217205Forecasted sales219207220237+ADVERTISING($000)575828a. Perform a regression analysis based on these data using Excel.Note: Negative values should be indicated by a minus sign. Round your answers to 4 decimal places.1,1171,4121,2151,2809061,117707906707684Price+c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $297 per unit andthe amount spent on advertising (in thousands) was $896.Note: Enter your answer in thousands. Round your intermediate calculations and final answer to 2 decimal places.thousand unitsadvertising

Regression Analysis is a statistical method where individuals and corporations can study the…

Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for their line of company speakers. He is uncertain whether the unit price of the product or the effects of increased marketing are the main drivers in sales and wants to use regression analysis to figure out which factor drives more demand for its particular market. Pertinent information was collected by an extensive marketing project that lasted over the past 12 years and was reduced to the data that follow: YEAR 1 2 3 4 5 6 7 UNIT SALES (THOUSANDS) 397 697 897 1,280 1,154 1,187 897 PRICE $/UNIT 281 220 207 211 220 208 217 ADVERTISING ($000) 575 828 1,117 1,412 1,215 1,280 906

Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for their line of company speakers. He is uncertain whether the unit price of the product or the effects of increased marketing are the main drivers in sales and wants to use regression analysis to figure out which factor drives more demand for its particular market. Pertinent information was collected by an extensive marketing project that lasted over the past 12 years and was reduced to the data that follow: YEAR 1 2 3 4 5 6 7 UNIT SALES (THOUSANDS) 397 697 897 1,280 1,154 1,187 897 PRICE $/UNIT 281 220 207 211 220 208 217 ADVERTISING ($000) 575 828 1,117 1,412 1,215 1,280 906

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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