data table below shows the number of computers sold at the Best Buy Store in a week, based on online ads. Online Ad Computers Sold 2 25 1 10 4 30 1 10 2 25 sigma)x=10 sigma)y=100 draw the graph of the regression equation, showing the slope and y intercepts?

data table below shows the number of computers sold at the Best Buy Store in a week, based on online ads. Online Ad Computers Sold 2 25 1 10 4 30 1 10 2 25 sigma)x=10 sigma)y=100 draw the graph of the regression equation, showing the slope and y intercepts?

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 5P: Management of a home appliance store wants to understand the growth pattern of the monthly sales of...

See similar textbooks

Related questions

Q: What is the difference between a simple regression equation and a multiple regression equation?

A: Regression equations are used for various functions, generally, in operations, they are used for…

Q: a. Determine the regression equation. (Round to 2 decimal places.) Regression equation: ŷ = ______…

A: Below is the solution:-

Q: linear regression model, you've found the following relationship:

A: A linear regression is mathematical model using to forecast the future information using previous…

Q: The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast…

A: Given data is

Q: For the E-Commerce Retail Sales (Million$) data given in the table below, provide estimates from the…

A: Given data is

Q: James Inc. is a mid-sized manufacturer of residential water heaters. Sales have grown during the…

Q: 2. The production and corresponding costing of a product in a factory is given below: Production…

Q: . Develop a simple linear regression equation to forecast annual sales. For this regression, the…

A: Solution The simple linear regression equation is given by- Y=aX+bwherea=y-bxb=∑xy-nxy∑x2-nx The…

Q: d) What is the slope (b) of the least squares trend line for these data?

A: The concept of Operation Management: Operation management is the management that applies to a…

Q: The data show the bug chirps per minute at different temperatures. Find the regression equation,…

Q: The regression equation of two variables are 5y = 9x - 22 and 20x = 9y + 350 Find the means of x and…

A: 5y=9x-22∴5y-9x=-22and…

Q: Room registrations in the Toronto Towers Plaza Hotel have been recorded for the past 9 years. To…

A: Given Data:

Q: Describe the Nonlinear and Multiple Regression Analysis?

A: Non-linear Regression In the non-linear regression, method data is fit to a model and then it is…

Q: Ralph Billett is the manager of a real estate agency. He now wishes to develop a forecast of the…

A: Find the Given details below: Given details: Sales (Year) Quarter 1 2 3 1 30 59 71 2…

Q: d) Calculate the trend projection with regression forecast for periods 7 through 10. The regression…

A: Forecasting is the ability to predict future happenings using different forecasting methods.

Q: The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast…

A: Linear Regression Assume X = Guests Y = Bar sales X Y XY X2 16 340…

Q: Consider the following time series data. Use trial and error to find a value of the exponential…

A: Exponential smoothing is the method for smoothing the data of the time series by using the function…

Q: Grant Healthcare produces latex gloves for hospitals. Grant is forecasting costs for future…

A: The possible independent variables for analysis of financial data are:

Q: What are the various Assumptions of Distributed Lag regression Model? Explain in detail?

A: The method of polynomial distributed lags can be used with cubic or even higher-order polynomials as…

Q: Rhonda Clark, a Slippery Rock, Pennsylvania, realestate developer, has devised a regression model to…

A: a) y = 13473 +37.65(1860) =$83502

Q: Curry Rubber manufactures rubber bands for retail companies. The accounting manager has performed a…

A: The R-squared value of .6 tells you that changes in the independent variable do not predict changes…

Q: Assume you have noted the following prices for paperback books and the number of pages that each…

Q: Defines a linear regression equation in its components (y, x, a and b).

A: Direct relapse endeavors to show the connection between two factors by fitting a straight condition…

Q: The table below shows the violent crime rate in Canada between 1977 and 2004. a. Enter this data…

A: Quadratic regression equation is of form ax2+bx+c where a should not be equal to zero.

Q: The following gives the number of accidents that occured on Florida State Highway 101 during the…

A: Given data is

Q: (d) Fit a multiple linear regression model with an interaction term to these data. (e) Estimate o…

A: given,

Q: A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales…

A: As there are deviation in both side of the trend-line, it is concluded that trend-adjusted…

Q: Create a line graph for this set of monthly sales numbers. Run a regression analysis. What is…

A: Given data, For the above table data, we would construct a line graph, we would also run the…

Q: The classified department of a monthly magazine has used a combination of quantitative and…

A: The tracking signal is a measure of the variability of the forecast with respect to the actual data.…

Q: Community Federal Bank in Dothan, Alabama, recently increased its fees to customers who use…

A: Using trend projection with regression to forecast usage for weeks 13–16.

Q: Using multiple regression, you have identified P12,000 of unit level costs for 3,000 units, P1,000…

A: Cost is the total payment or money incurred to produce products and services in an organization.

Q: The following correlation coefficient values come from five different linear regression models.…

A: Linear-regression models are comparatively simple and offer a formula associated with the…

Q: Room registrations in the Toronto Towers Plaza Hotel have been recorded for the past 9 years. To…

A: Solution The regression equation is given by…

Q: 8. In Regression Discontinuity framework, the cutoff is defined as the level of the assignment…

A: "Since you have asked multiple questions we will solve the first question for you. If you want any…

Q: High-Low; Analysis of Regression Results Regression analysis is commonly used to estimatecosts.…

A: The estimation of cost refers to the project cost having to identify the component values. The cost…

Q: disadvantages and advantages of Regression analysis technique?

A: Regression analysis is a technique used to estimate the relationship between different variables.

Q: What is differ from SMA (Simple moving average), WMA (Weighted moving average), SLR (Single linear…

A: AnswerCurrent prices are those prices on which the goods and services are sell and purchased in the…

Q: How does the linear trend line forecasting model differ from a lincar regression model for…

A: Linear trend line forecasting refers to the statistical tool that helps in better interpretation of…

Q: A company is introducing reusable straws in the market on the 1st of January 2022. They estimate the…

A: THE ANSWER IS AS BELOW:

Q: Carpet City wants to develop a means to forecast its carpet sales. The store manager believes that…

A: A statistical method for predicting the value of one variable based on the value of another is…

Q: Zagat’s publishes restaurant ratings for various locations in the United States. The file…

A: The technique used by the organization to evaluate the linking variables is known as regression…

Q: Chart and Regression analysis : What does the intercept predict? X: C16 (number of cars on the…

A: Given Information: X = Number of cars on the sales lot Y = Cars sold per day Equation: y = 2.9x +…

Q: technique for the study of interrelationships among variables, usually for the purposes of data…

A: Statistical methods: These are the techniques, models and formulas to analyze the data. It helps in…

Q: The classified department of a monthly magazine has used a combination of quantitative and…

Q: The following data come from regression line projections: Compute the MAD and MSE.

Q: Discuss how the coefficient of determination and the coefficient of correlation are related and how…

A: The intensity as well as direction of a linear connection between two variables (x and y) is indeed…

Q: The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast…

A: Given, 1 16 320 2 12 265 3 18 375 4 14 300

Q: Community Federal Bank in Dothan, Alabama, recently increased its fees to customers who use…

A: Trend projection with regression is a typical forecasting method in which relationship between…

Q: a. Use linear regression to find a relation to forecast Y, which is the quality parameter from the…

A: The Equation of Linear Regression, The equation is Y= a + b*X, where Y is the dependent variable…

Question

data table below shows the number of computers sold at the Best Buy Store in a week, based on online ads.

Online Ad Computers Sold

2 25

1 10

4 30

1 10

2 25

sigma)x=10 sigma)y=100

draw the graph of the regression equation, showing the slope and y intercepts?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 - Introduction

VIEW

Step 2 - Regression equation

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?
Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)? Answer this question by estimating a simple regression equation where the sales price of the house is the dependent variable, and the size of the house is the explanatory variable. Use the sample data given in P13_06.xlsx. Interpret your estimated equation, the associated R-square value, and the associated standard error of estimate.
The management of a technology company is trying to determine the variable that best explains the variation of employee salaries using a sample of 52 full-time employees; see the file P13_08.xlsx. Estimate simple linear regression equations to identify which of the following has the strongest linear relationship with annual salary: the employees gender, age, number of years of relevant work experience prior to employment at the company, number of years of employment at the company, or number of years of post secondary education. Provide support for your conclusion.
A small computer chip manufacturer wants to forecast monthly ozperating costs as a function of the number of units produced during a month. The company has collected the 16 months of data in the file P13_34.xlsx. a. Determine an equation that can be used to predict monthly production costs from units produced. Are there any outliers? b. How could the regression line obtained in part a be used to determine whether the company was efficient or inefficient during any particular month?
A trucking company wants to predict the yearly maintenance expense (Y) for a truck using the number of miles driven during the year (X1) and the age of the truck (X2, in years) at the beginning of the year. The company has gathered the data given in the file P13_13.xlsx. Note that each observation corresponds to a particular truck. Estimate a multiple regression equation using the given data. Interpret each of the estimated regression coefficients. Also, interpret the standard error of estimate and the R-square value for these data.
Suppose that a regional express delivery service company wants to estimate the cost of shipping a package (Y) as a function of cargo type, where cargo type includes the following possibilities: fragile, semifragile, and durable. Costs for 15 randomly chosen packages of approximately the same weight and same distance shipped, but of different cargo types, are provided in the file P13_16.xlsx. a. Estimate a regression equation using the given sample data, and interpret the estimated regression coefficients. b. According to the estimated regression equation, which cargo type is the most costly to ship? Which cargo type is the least costly to ship? c. How well does the estimated equation fit the given sample data? How might the fit be improved? d. Given the estimated regression equation, predict the cost of shipping a package with semifragile cargo.
Management of a home appliance store wants to understand the growth pattern of the monthly sales of a new technology device over the past two years. The managers have recorded the relevant data in the file P13_05.xlsx. Have the sales of this device been growing linearly over the past 24 months? By examining the results of a linear trend line, explain why or why not.
Management of a home appliance store would like to understand the growth pattern of the monthly sales of Blu-ray disc players over the past two years. Managers have recorded the relevant data in the file P13_33.xlsx. a. Create a scatterplot for these data. Comment on the observed behavior of monthly sales at this store over time. b. Estimate an appropriate regression equation to explain the variation of monthly sales over the given time period. Interpret the estimated regression coefficients. c. Analyze the estimated equations residuals. Do they suggest that the regression equation is adequate? If not, return to part b and revise your equation. Continue to revise the equation until the results are satisfactory.
Stock market analysts are continually looking for reliable predictors of stock prices. Consider the problem of modeling the price per share of electric utility stocks (Y). Two variables thought to influence this stock price are return on average equity (X1) and annual dividend rate (X2). The stock price, returns on equity, and dividend rates on a randomly selected day for 16 electric utility stocks are provided in the file P13_15.xlsx. Estimate a multiple regression equation using the given data. Interpret each of the estimated regression coefficients. Also, interpret the standard error of estimate and the R-square value for these data.
The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.
The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel Agency. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b?
The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?