PriceIndPrice PriceDifAdvExp DemandX1X2X4X3Y3.853.80-0.055.507.383.754.000.256.758.513.704.300.607.259.523.703.700.005.507.503.603.850.257.009.333.603.800.206.508.283.603.750.156.758.753.803.850.055.257.873.803.65-0.155.257.103.854.000.156.008.003.904.100.206.507.893.904.000.106.258.153.704.100.407.009.103.754.200.456.908.863.754.100.356.808.903.804.100.306.808.873.704.200.507.109.263.804.300.507.009.003.704.100.406.808.753.803.75-0.056.507.953.803.75-0.056.257.653.753.65-0.106.007.273.703.900.206.508.003.553.650.107.008.503.604.100.506.808.753.654.250.606.809.213.703.65-0.056.508.273.753.750.005.757.673.803.850.055.807.933.704.250.556.809.26 Consider the demand for Fresh Detergent in a future sales period when Enterprise Industries' price for Fresh will be x1 = 3.70, theaverage price of competitors' similar detergents will be x2 = 3.90, and Enterprise Industries' advertising expenditure for Fresh will bex3 = 6.50. A 95 percent prediction interval for this demand is given on the following JMP output:%3DPredictedLower 95%Upper 95%Mean DemandUpper 95%Indiv DemandStdErrLower 95%DemandMean DemandIndiv DemandIndiv Demand318.41065034778.31431728228.50698341320.23930331037.91875534878.9025453468E Click here for the Excel Data File;(a) Find and report the 95 percent prediction interval on the output. If Enterprise Industries plans to have in inventory the number ofbottles implied by the upper limit of this interval, it can be very confident that it will have enough bottles to meet demand for Fresh inthe future sales period. How many bottles is this? If we multiply the number of bottles implied by the lower limit of the predictioninterval by the price of Fresh ($3.70), we can be very confident that the resulting dollar amount will be the minimal revenue from Freshin the future sales period. What is this dollar amount? (Round 95% PI to 4 decimal places, Lower dollar amount and Level ofinventory needed to the nearest whole number.)95% PI [Level of inventory needed =bottlesLower dollar amount =(b) Calculate a 99 percent prediction interval for the demand for Fresh in the future sales period. Use the fact that StdErr Indiv Demandequals s(1 + distance value)5. (Round your answers to 4 decimal places.)99% PI [

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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