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 4 10 UNIT SALES PRICES PER (THOUSANDS) 396 696 896 1,285 1,155 1,186 y barw 896 1,118 985- 1,334 926 820 UNIT 282 219 206 210 219 209 218 206 220 206 226 236 ADVERTISING (8000) 600 829 1,118 1,413 1,214 1,285 907 1,118 700 907 708 602 a. 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. Price + advertising c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $296 per unit and the amount spent on advertising (in thousands) was $895, Note: Enter your answer in thousands. Round your intermediate calculations and final answer to 2 decimal places.
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 4 10 UNIT SALES PRICES PER (THOUSANDS) 396 696 896 1,285 1,155 1,186 y barw 896 1,118 985- 1,334 926 820 UNIT 282 219 206 210 219 209 218 206 220 206 226 236 ADVERTISING (8000) 600 829 1,118 1,413 1,214 1,285 907 1,118 700 907 708 602 a. 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. Price + advertising c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $296 per unit and the amount spent on advertising (in thousands) was $895, Note: Enter your answer in thousands. Round your intermediate calculations and final answer to 2 decimal places.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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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
4
10
UNIT SALES PRICES PER
(THOUSANDS)
396
696
896
1,285
1,155
1,186
y barw
896
1,118
985-
1,334
926
820
UNIT
282
219
206
210
219
209
218
206
220
206
226
236
ADVERTISING
(8000)
600
829
1,118
1,413
1,214
1,285
907
1,118
700
907
708
602
a. 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.
Price
+
advertising
c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $296 per unit and
the amount spent on advertising (in thousands) was $895,
Note: Enter your answer in thousands. Round your intermediate calculations and final answer to 2 decimal places.
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