Callaway Golf is trying to determine how the price of a set of clubs affects the demand for clubs. The file P13_37.xlsx contains the price of a set of clubs (in dollars) and the monthly sales (number of sets sold). a. Assume the only factor influencing monthly sales is price. Fit the following two curves to these data: linear ( Y = a + bX ) and exponential ( Y = ae bX ). Which equation best fits the data? b. Interpret your best-fitting equation. c. Using the best-fitting equation, predict sales during a month in which the price is $470.

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Practical Management Science

6th Edition
WINSTON + 1 other
Publisher: Cengage,
ISBN: 9781337406659
BuyFind

Practical Management Science

6th Edition
WINSTON + 1 other
Publisher: Cengage,
ISBN: 9781337406659

Solutions

Chapter
Section
Chapter 13, Problem 37P
Textbook Problem

Callaway Golf is trying to determine how the price of a set of clubs affects the demand for clubs. The file P13_37.xlsx contains the price of a set of clubs (in dollars) and the monthly sales (number of sets sold).

  1. a. Assume the only factor influencing monthly sales is price. Fit the following two curves to these data: linear (Y = a + bX) and exponential (Y = aebX). Which equation best fits the data?
  2. b. Interpret your best-fitting equation.
  3. c. Using the best-fitting equation, predict sales during a month in which the price is $470.

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Chapter 13 Solutions

Practical Management Science
Ch. 13.4 - Suppose you are an analyst for a company that...Ch. 13.4 - A trucking company wants to predict the yearly...Ch. 13.4 - An antique collector believes that the price...Ch. 13.4 - Stock market analysts are continually looking for...Ch. 13.4 - Suppose that a regional express delivery service...Ch. 13.4 - The owner of a restaurant in Bloomington, Indiana,...Ch. 13.6 - The file P13_19.xlsx contains the weekly sales of...Ch. 13.6 - The file P13_20.xlsx contains the monthly sales of...Ch. 13.6 - The file P13_21.xlsx contains the weekly sales of...Ch. 13.6 - The file P13_22.xlsx contains total monthly U.S....Ch. 13.7 - You have been assigned to forecast the number of...Ch. 13.7 - Simple exponential smoothing with = 0.3 is being...Ch. 13.7 - The file P13_25.xlsx contains the quarterly...Ch. 13.7 - The file P13_26.xlsx contains the monthly number...Ch. 13.7 - The file P13_27.xlsx contains yearly data on the...Ch. 13.7 - The file P13_28.xlsx contains monthly retail sales...Ch. 13.7 - The file P13_29.xlsx contains monthly time series...Ch. 13.7 - A version of simple exponential smoothing can be...Ch. 13 - Many companies manufacture products that are at...Ch. 13 - A power company located in southern Alabama wants...Ch. 13 - Management of a home appliance store would like to...Ch. 13 - A small computer chip manufacturer wants to...Ch. 13 - The file P13_35.xlsx contains the amount of money...Ch. 13 - When potential workers apply for a job that...Ch. 13 - Callaway Golf is trying to determine how the price...Ch. 13 - Let Yt be the sales during month t (in thousands...Ch. 13 - The Baker Company wants to develop a budget to...Ch. 13 - The auditor of Kiely Manufacturing is concerned...Ch. 13 - The file P13_42.xlsx contains monthly data on...Ch. 13 - The belief that larger majorities for an incumbent...Ch. 13 - The auditor of Kaefer Manufacturing uses...Ch. 13 - (Based on an actual court case in Philadelphia.)...Ch. 13 - Confederate Express is attempting to determine how...Ch. 13 - Pernavik Dairy produces and sells a wide range of...

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