12.30. The manager of Sarah's Ice-Cream store needs an accurate forecast of the demand for ice-cream. The store orders ice-cream from a distributor a week ahead, and if too little is ordered the store loses business. If it orders too much, it must be thrown away. The manager believes that a major determinant of ice-cream sales is temperature; that is, the hotter it is, the more ice-cream people buy. Using an almanac, the manager has determined the average daytime temperature for 10 weeks selected at random and then, from store records, has determined the ice-cream consumption for the same 10 weeks. The data are summarized as follows: Week Temperature (Gallons Sold) 1 75 95 67 90 3 83 125 89 150 77 85 80 115 7 84 110 8 92 145 9. 89 130 65 100 10 a. Develop a linear regression model for this data and forecast the ice-cream consumption if the average weekly daytime tem- perature is expected to be 80. 4- 6

12.30. The manager of Sarah's Ice-Cream store needs an accurate forecast of the demand for ice-cream. The store orders ice-cream from a distributor a week ahead, and if too little is ordered the store loses business. If it orders too much, it must be thrown away. The manager believes that a major determinant of ice-cream sales is temperature; that is, the hotter it is, the more ice-cream people buy. Using an almanac, the manager has determined the average daytime temperature for 10 weeks selected at random and then, from store records, has determined the ice-cream consumption for the same 10 weeks. The data are summarized as follows: Week Temperature (Gallons Sold) 1 75 95 67 90 3 83 125 89 150 77 85 80 115 7 84 110 8 92 145 9. 89 130 65 100 10 a. Develop a linear regression model for this data and forecast the ice-cream consumption if the average weekly daytime tem- perature is expected to be 80. 4- 6

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.3: Simple Regression Models

Problem 10P: Sometimes curvature in a scatterplot can be fit adequately (especially to the naked eye) by several...

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