Year Quarter Period Cost/Unit ($) 1 1 1 $20.00 2 2 $17.23 3 3 $13.39 4 4 $17.94 2 1 5 $20.29 2 6 $25.61 3 7 $22.62 4 8 $29.63 3 1 9 $23.87 2 10 $20.35 3 11 $26.32 4 12 $25.50 4 1 13 $20.90 2 14 $28.48 3 15 $32.65 4 16 $25.78 5 1 17 $28.90 2 18 $32.61 3 19 $28.66 4 20 $25.27 6 1 21 $25.80 2 22 $35.71 3 23 $27.26 4 24 $27.89 7 1 25 $28.50 2 26 $28.64 3 27 $32.52 4 28 $28.24 8 1 29 $37.95 2 30 $28.59 3 31 $37.07 4 32 $38.16 Use simple linear regression analysis to find the estimated parameters for the line that minimizes MSE for this time series. (Round your answers to two decimal places.) b0= b1= (c) What is the average cost increase (in $) that the firm has been realizing per quarter? (Round your answer to two decimal places.) $ (d) Compute an estimate of the cost/unit (in $) for the next quarter. (Round your answer to two decimal places.) $
Year Quarter Period Cost/Unit ($) 1 1 1 $20.00 2 2 $17.23 3 3 $13.39 4 4 $17.94 2 1 5 $20.29 2 6 $25.61 3 7 $22.62 4 8 $29.63 3 1 9 $23.87 2 10 $20.35 3 11 $26.32 4 12 $25.50 4 1 13 $20.90 2 14 $28.48 3 15 $32.65 4 16 $25.78 5 1 17 $28.90 2 18 $32.61 3 19 $28.66 4 20 $25.27 6 1 21 $25.80 2 22 $35.71 3 23 $27.26 4 24 $27.89 7 1 25 $28.50 2 26 $28.64 3 27 $32.52 4 28 $28.24 8 1 29 $37.95 2 30 $28.59 3 31 $37.07 4 32 $38.16 Use simple linear regression analysis to find the estimated parameters for the line that minimizes MSE for this time series. (Round your answers to two decimal places.) b0= b1= (c) What is the average cost increase (in $) that the firm has been realizing per quarter? (Round your answer to two decimal places.) $ (d) Compute an estimate of the cost/unit (in $) for the next quarter. (Round your answer 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
Year | Quarter | Period | Cost/Unit ($) |
1 | 1 | 1 | $20.00 |
2 | 2 | $17.23 | |
3 | 3 | $13.39 | |
4 | 4 | $17.94 | |
2 | 1 | 5 | $20.29 |
2 | 6 | $25.61 | |
3 | 7 | $22.62 | |
4 | 8 | $29.63 | |
3 | 1 | 9 | $23.87 |
2 | 10 | $20.35 | |
3 | 11 | $26.32 | |
4 | 12 | $25.50 | |
4 | 1 | 13 | $20.90 |
2 | 14 | $28.48 | |
3 | 15 | $32.65 | |
4 | 16 | $25.78 | |
5 | 1 | 17 | $28.90 |
2 | 18 | $32.61 | |
3 | 19 | $28.66 | |
4 | 20 | $25.27 | |
6 | 1 | 21 | $25.80 |
2 | 22 | $35.71 | |
3 | 23 | $27.26 | |
4 | 24 | $27.89 | |
7 | 1 | 25 | $28.50 |
2 | 26 | $28.64 | |
3 | 27 | $32.52 | |
4 | 28 | $28.24 | |
8 | 1 | 29 | $37.95 |
2 | 30 | $28.59 | |
3 | 31 | $37.07 | |
4 | 32 | $38.16 |
Use simple linear regression analysis to find the estimated parameters for the line that minimizes MSE for this time series. (Round your answers to two decimal places.)
b0= b1=
(c)
What is the average cost increase (in $) that the firm has been realizing per quarter? (Round your answer to two decimal places.)
$
(d)
Compute an estimate of the cost/unit (in $) for the next quarter. (Round your answer to two decimal places.)
$
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