The new productions manager for Speakers and Company, needs to find out which variable most affects the demand for the company's line of Bluetooth speakers. The manager 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 (year 1 is data from 12 years ago) and was reduced to the data that follow. YEAR SALES/UNIT (THOUSANDS) PRICE S/UNIT ADVERTISING ($000) 1998 396 282 600 1999 696 219 829 2000 896 206 1,118 2001 1,285 210 1,413 2002 1, 155 219 1,214 2003 1,186 209 1,285 2004 896 218 907 2005 1,118 206 1,118 2006 985 220 708 2007 1, 334 206 907 2008 926 226 708 2009 820 236 682 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. 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. Do not round intermediate calculations. Round your answer to the nearest whole number.
The new productions manager for Speakers and Company, needs to find out which variable most affects the demand for the company's line of Bluetooth speakers. The manager 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 (year 1 is data from 12 years ago) and was reduced to the data that follow. YEAR SALES/UNIT (THOUSANDS) PRICE S/UNIT ADVERTISING ($000) 1998 396 282 600 1999 696 219 829 2000 896 206 1,118 2001 1,285 210 1,413 2002 1, 155 219 1,214 2003 1,186 209 1,285 2004 896 218 907 2005 1,118 206 1,118 2006 985 220 708 2007 1, 334 206 907 2008 926 226 708 2009 820 236 682 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. 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. Do not round intermediate calculations. Round your answer to the nearest whole number.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
not use ai please don't
Transcribed Image Text:The new productions manager for Speakers and Company, needs to find out which variable most affects the demand
for the company's line of Bluetooth speakers. The manager 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 (year 1 is data from 12 years ago) and was reduced to the data that follow.
YEAR SALES/UNIT (THOUSANDS) PRICE S/UNIT ADVERTISING ($000)
1998 396 282 600
1999 696 219 829
2000 896 206 1,118
2001 1,285 210 1,413
2002 1, 155 219 1,214
2003 1,186 209 1,285
2004 896 218 907
2005 1,118 206 1,118
2006 985 220 708
2007 1, 334 206 907
2008 926 226 708
2009 820 236 682
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.
Transcribed Image Text: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. Do not round intermediate calculations. Round your answer to the nearest
whole number.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman