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 3 8 5 8 6 Demand for Guitars 2 5 6 4 11 6 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 = + c) The estimate for guitar sales if Maroon 5 performed on TV 11 times = sales (round your response to two decimal places). d) The correlation coefficient (r) for this model = (round your response to four decimal places). The coefficient of determination (r2) for this model = (round your response to four decimal places). The percentage of variation in sales that can be explained by TV appearances = % (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 3 3 8 5 8 6 Demand for Guitars 2 5 6 4 11 6 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 = + c) The estimate for guitar sales if Maroon 5 performed on TV 11 times = sales (round your response to two decimal places). d) The correlation coefficient (r) for this model = (round your response to four decimal places). The coefficient of determination (r2) for this model = (round your response to four decimal places). The percentage of variation in sales that can be explained by TV appearances = % (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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Question
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
|
3
|
8
|
5
|
8
|
6
|
|
Demand for Guitars
|
2
|
5
|
6
|
4
|
11
|
6
|
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 =
+
c) The estimate for guitar sales if Maroon 5 performed on TV 11
times =
sales (round your response to two decimal places).
times =
d) The correlation coefficient (r)
for this model =
(round your response to four decimal places).
for this model =
The coefficient of determination
(round your response to four decimal places).
(r2)
for this model =
The percentage of variation in sales that can be explained by TV appearances =
%
(round your response to two decimal places).Expert Solution
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