Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows:
MONTH DEMAND (UNITS)
January 4,220
February 4,320
March 4,020
April 4,420
May 5,020
June 4,720
July 5,320
August 4,920
September 5,420
October 5,720
November 6,320
December 6,020
- Using linear regression analysis, what would you estimate demand to be for each month next year? (Round two decimal places)
- To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this level of confidence?
(Please round to nearest whole number)
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