A retail manager seeks a better way to forecast the demand for LED light bulbs. She believes the demand is related toadvertising expenditure. The table below shows historical data for the past 5 months.A) Is there a relationship between sales and advertising? How strong or weak?B) The company will spend $1,750 next month on advertising. Determine the forecast for sales?Historical Data:Month2345Sales264.000116.000165.000101.000209.000Advertising$2.500$1.300$1.400$1.000$2.000

The correlation coefficient also called Pearson's product-moment correlation coefficient, is a…

Answered: A retail manager seeks a better way to…

Contemporary Marketing

18th Edition

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Louis E. Boone, David L. Kurtz

Chapter14: Pricing Strategies

Section14.2: Forecasting Demand

Problem 1LO

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The current values of sales of a product in a company are as follows: November - 22, December - 35, January - 28, February - 20, March - 33, April - 20. What is the forecast for May using a mean mobile three months? Select one: a. twenty b. 25.25 c. 24.33 d. 26.33
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