Nick's Tree Trimming Service was really taking off! He was thrilled that he needed to hire three more employees to keep up with all thework. He realized that his years-long strategy of investing in a marketing plan clearly must have something to do with it.As soon as the business idea was conceived, Nick made a strategic plan that included consistent marketing efforts at steady intervalsthroughout each year. Every quarter, he updated his messaging, with input from his marketing vendor, and got his updated messageout to the public. His quarterly marketing expenses along with the corresponding revenues are as follows.O Show Transcribed TextQuarter123456789101112Marketing Cost12,000$10,000 $220,00012,00014,00014,00016,00016,00018,00018,00020,00020,000C22,000Revenues260,000330,000410,000450,000425,000480,000430,000470,000490,000510,000470,000 Run the regression model in Excel and evaluate it for goodness of fit, significance of the independent variable, and economicplausibility. Specify your final model in Y=mX) + b format. (Round answers to 2 decimal places, eg 15.25)Y=SX+5

Answered: Run the regression model in Excel and…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter7: Systems Of Equations And Inequalities

Section7.1: Systems Of Linear Equations: Two Variables

Problem 4SE: If you are solving a break-even analysis and there is no break-even point, explain what this means...

See similar textbooks

Similar questions

The specialized magazine Negocios de América has an annual registration fee of $ 20, and last year it had 2,000 subscribers. Market research has determined that for every dollar that increases in the price of the magazine's annual subscription, the number of subscribers will be reduced by 50.What should be the price of the magazine so that the income from the sale is as high as possible?
Richard and Samantha are charting their monthly cash flow. They have some expenses like car repairs ($ 900 twice a year) and vacations ($ 1,500 for the year) that are not paid each month. How much should be set aside monthly to account for these non-monthly expenses?
refer to image below.
The sales of a company rose from dollar 30,000 in the month of February to dollar 35,000 in the month of March. The seasonal indices for these two months are 105 and 140, respectively. The owner of the company was not satisfied by this increase of dollar 5000 in the month of March. He expected much more because of the seasonal index. How much could he expect on the basis of the seasonal index?
Kalamazoo Blooming Nursery is a small company specializing in selling flowers. They developed a new product called Flowers of the Month in which they would send a customer a different flower arrangement every month. KBN charged $52 a month for Flowers of the Month. KBN spent $60,000 on their marketing campaign last year, including advertising, which led to $94,000 extra profit over the year. They estimate that their extra sales last year from this campaign was $80,000 on their usual (baseline}sales of $450,000. From the campaign they acquired 43 subscribers to Flowers of the Month who continued to subscribe to Flowers of the Month for an average of 4 years. What is the lift from this campaign? (Note: multiply answer by 100 to represent %) Your Answer:
A.F.D.C. was intended to provide mothers with enough to get by — barely — while raising their children. In 1970 three-person families on A.F.D.C. received, on average, $194 a month. Adjusting for inflation, that’s the equivalent of around $15,000 a year today, compared with the $6,000 a family with two children over age 6 ($7,200 if they’re under 6) will receive under the new plan. In 1970, an A.F.D.C. family of three received about 25 percent of median income for three-person families — hardly a generous allowance, but maybe, just, enough to live on. The new American Rescue Plan will give a single parent of two children less than 7 percent of median income c. What is median family income today (2021)? How much will the new relief bill give to a single parent with two children annually?
A retired couple has $120,000 to invest to obtain annual income. They want some of it invested in safe certificates of deposit yielding 5%. The rest they want to invest in AA bonds yielding 12% per year. How much should they invest in each to realize exactly $11,600 per year ?
Sarah studies Business and Management and she also has a part-time job as a waitress at a restaurant. The restaurant does not include service charges in their bills, and therefore Sarah often receives tips from the customers. Some customers give her very generous tips, while others leave hardly anything or nothing at all. Sarah began to wonder what the size of the tip may depend on. Just out of curiosity, she started to keep a record of the total prices on the bills and the tips she received. At first, she fit a simple linear regression model to the data and found that the size of the tip was significantly related to the total price. But at this point, she speculated that the tips may be affected by other factors as well, and an even better model could possibly be constructed by including further independent variables. For instance, the chef who prepares the dish(es) might affect the customers' satisfaction. The restaurant employs three chefs: Richard, Thomas, and Linda. Sarah decides…
Sarah studies Business and Management and she also has a part-time job as a waitress at a restaurant. The restaurant does not include service charges in their bills, and therefore Sarah often receives tips from the customers. Some customers give her very generous tips, while others leave hardly anything or nothing at all. Sarah began to wonder what the size of the tip may depend on. Just out of curiosity, she started to keep a record of the total prices on the bills and the tips she received. At first, she fit a simple linear regression model to the data and found that the size of the tip was significantly related to the total price. But at this point, she speculated that the tips may be affected by other factors as well, and an even better model could possibly be constructed by including further independent variables. For instance, the chef who prepares the dish (es) might affect the customers' satisfaction. The restaurant employs three chefs: Richard, Thomas, and Linda. Sarah decides…
Sarah studies Business and Management and she also has a part-time job as a waitress at a restaurant. The restaurant does not include service charges in their bills, and therefore Sarah often receives tips from the customers. Some customers give her very generous tips, while others leave hardly anything or nothing at all. Sarah began to wonder what the size of the tip may depend on. Just out of curiosity, she started to keep a record of the total prices on the bills and the tips she received. At first, she fit a simple linear regression model to the data and found that the size of the tip was significantly related to the total price. But at this point, she speculated that the tips may be affected by other factors as well, and an even better model could possibly be constructed by including further independent variables. For instance, the chef who prepares the dish(es) might affect the customers' satisfaction. The restaurant employs three chefs: Richard, Thomas, and Linda. Sarah decides…
Suppose you spend $12 a week on snacks. Nearly one-quarter of a million children worldwide die each year from measles. The vaccination to prevent measles costs about one dollar per child. If you donated half your snack money for one year to a charity that paid for these immunizations, how many children might be immunized from the measles with your money?
Your grandmother needs your help. She has $50,000 to invest. Part of this money is to be invested in noninsured bonds paying 15% annual interest. The rest of this money is to be invested in a government-insured certificate of deposit paying 7% annual interest. She requires $6000 per year in extra income from the combination of these investments. How much money should be placed in each investment?

SEE MORE QUESTIONS

Recommended textbooks for you

College Algebra

Algebra

ISBN:

9781938168383

Author:

Jay Abramson

Publisher:

OpenStax

College Algebra

Algebra

ISBN:

9781938168383

Author:

Jay Abramson

Publisher:

OpenStax

SEE MORE TEXTBOOKS

Run the regression model in Excel and evaluate it for goodness of fit, significance of the independent variable, and economic plausibility. Specify your final model in Y-mDX0+b format. (Round answers to 2 decimal places, eg 15.25) Y-S X+5