Business Analytics (2nd Edition)
2nd Edition
ISBN: 9780321997821
Author: James R. Evans
Publisher: PEARSON
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Chapter 1, Problem 10PE
Four key marketing decision variables are price (P), advertising (A), transportation (T), and product quality (Q). Consumer demand (D) is influenced by these variables. The simplest model for describing demand in terms of these variables is
- How does a change in each variable affect demand?
- How do the variables influence each other?
- What limitations might this model have? Can you think of how this model might be made more realistic?
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C (gross cost of UPS Inc. in billions of $) and R (gross revenue of UPS Inc. in billions of $)
O E (years since 2010) and P (gross profit of UPS Inc. in billions of $)
(b) Find an equation for a model of these data. (Use the first and last values in the table to calculate your equation. Round the slope and the vertical intercept to one decimal place. Note th
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range
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(d) What is the slope of your model? Explain its meaning in this situation. (Round your slope to one decimal place. Do not include units in your answer.)
The slope is
This means that the gross profit for UPS Inc.
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by about that value in billions of dollars each year.
(e) Estimate the gross profit for UPS in 2019. (Round your answer to the nearest tenth of a billion dollars. Include units in your answer. More information.)
In 2019, the…
A researcher proposing a research project defines the dependent variable as "achievement in mathematics." What difficulty does this definition present? How would you improve it?
Identify the independent and dependent variables in the situation
Chapter 1 Solutions
Business Analytics (2nd Edition)
Ch. 1 - Discuss how you might use business analytics in...Ch. 1 - A supermarket has been experiencing long lines...Ch. 1 - Suggest some metrics that a hotel might want to...Ch. 1 - Prob. 4PECh. 1 - Classify each of the data elements in the Sales...Ch. 1 - Identify each of the variables in the Excel file...Ch. 1 - Classify each of the varaibles in the Excel file...Ch. 1 - A survey handed out to individuals at a major...Ch. 1 - A bank developed a model for predicting the...Ch. 1 - Four key marketing decision variables are price...
Ch. 1 - Suppose that a manufacturer can produce a part for...Ch. 1 - Return on investment (ROl) is computed in the...Ch. 1 - Total marketing effort is a term used to describe...Ch. 1 - Automobiles have different fuel economies (mpg),...Ch. 1 - A manufacturer of mp3 players is preparing to set...Ch. 1 - The demand for airline travel is quite sensitive...
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