Felix & Company reports the following information.Period1567698AWNH23410Units Produced0Cost equation =4608601,2601,6602,0602,4602,8603,2603,660Total Costs$ 4,5603,8604,2604,8603,9604,1608,66016,0604,86010,782Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable costamounts.per unit

Here 2 independent variable are present i.e. time and number of units produced. We can make it a…

Answered: Felix & Company reports the following…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold $2.50 765 $3,40 515 $2.10 990 $4.20 240 315 $3.00 $4.10 475 Using simple linear regression and given that the price per cup is $1.80, the forecasted demand for mocha latte coffees will be 1150 cups (enter your response rounded to one decimal place).
4) A small manufacturing firm has recorded a time series of the cost per unit for the firm's leading product over the past eight years. Year Cost/Unit($) 1 2 3 4 5 6 7 8 20 24.5 28.2 27.5 26.6 30 31 36 a) If you are not given a base value or trend, what would be the forecast for the year 10 made at the end of year 8 (a=0.2, ß=0.4). b) Forecast for the year 9 using 1) 5-month weighted average using 0.1,0.1,0.1,0.2,0.3, with the heaviest weight applied to the recent month 2) Exponential smoothing using a =0.2 and forecast of 21 for year 5 3) If a value was not provided in the question above, what value of a would you choose?
Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR January 315 February 418 March 390 April 430 May 400 [ June 480 July 430 August 320 September 385 October 530 November 592 555 December 300 400 350 460 390 395 355 245 340 Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Do the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.) Forecast for the fourth quarter
Consider the following from an estate agent business: Month Houses Sold Jan 380 Feb 360 Mar 390 Apr 400 May 390 June 380 July 394 Aug 454 Sep 460 Oct 460 Nov 430 Dec 370 a) Calculate the three point moving averages (quarters) and seasonal variation for the above data b) A detective figures he has a one in nine chance of recovering stolen property. His out-of-pocket expenses for the investigation are $9,000. If he is paid his fee only if he recovers the stolen property, what should he charge clients in order to breakeven? c) At the races, your horse, has a probability of 1/20 of coming 151, 1/10 of coming 2nd and a probability of ¼ in coming 3rd. First place pays $4,500 to the winner, second place $3,500 and third place $1,500. Hence, is it worth entering the race if it costs $1,000? d) Your company plans to invest in a particular…
2. Given the data below, forecast Year Mileage 3000 3800 3500 3800 3700 12345 a. the 6th year using the weighted moving average w/weights.7.&.3 b.The 6th year using Exponential Smoothing with F1 =3000 and alpha = .7 c.Calculate the MAD for a and b, tell me which one is the best model d. Calculate the regression line, the forecast for the 6th and the 12th years, the residual of the 4th year, and tell me if it is s good or a bad model
Tucson Machinery, Inc., manufactures numerically controlled machines, which sell for an average price of $14.0 million each. Sales for these NCMs for the past two years were as follows: Use Exhibit 3.10. QUARTER LAST YEAR I II III IV QUANTITY (UNITS) Y = 14 20 28 18 QUARTER THIS YEAR I II III IV QUANTITY (UNITS) 20 26 30 15 a. Find the equation of a simple linear regression line using Excel. (Round your answers to 3 decimal places.) > Answer is complete but not entirely correct. 18.535 X + 0.630 t
Data on 10 mid-level managers in insurance industry is given below, in the box. Employees refer to number of employees supervised and salary refer to annual salary in 1000$.Employees 28 31 38 38 43 47 48 49 53 56Salary 99 102 136 127 157 121 173 197 200 176a. Create the regression equation.b. Forecast the salary of a manager who supervises 90 employees by using the regression equation you created.
Whta is the relationship between the moving average method and exponential smoothing?
The following data are for calculator sales in units at an electronics store over the past nine weeks: Week 1 2 3 4 5 Obtain the error measures. (Enter your responses rounded to two decimal places.) CFE MSE Sales Find the coefficient of determination (²). The coefficient of determination r² = 0. (Enter your response rounded to two decimal places.) 44459 46 51 58 Use trend projection with regression to forecast sales for weeks 10-13. What are the error measures (CFE, MSE, 6, MAD, and MAPE) for this forecasting procedure? How about r²? Obtain the trend projection with regression forecast for weeks 10-13. (Enter your responses rounded to two decimal places.) Forecast, Ft Period 10 11 12 13 Week 6 69809 7 Sales 54 63 53 61 MAD U MAPE %
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: D Price $2.50 $3.40 $2.10 $4.30 $3.00 $4.10 Using simple linear regression and given that the price per cup is $1.75, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place). Number Sold 765 515 975 245 315 480
Describe the three main techniques used to manipulate revenue
Compute the forecast sale using α = 0.20 and α = 0.35 respectively. (Note: express all answers using 4 decimal places)

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