following outcomes over the last seven months: Quantity Sold Price Advertising 8500 $ 2 $ 2,800 4700 $ 5 $ 200 5800 $ 3 $ 400 7400 $ 2 $ 500 6200 $ 5 $ 3,200 7300 $ 3 $ 1,800 5600 $ 4 $ 900 Regression (Equation) QSold = 8536.213882 - 835.7223514 Price + 0.592228496 Advertising A. Estimate sales when the price is $50 and advertising is $100,000, stating any assumption that you need to make. B. If the firm charges $50 and cost per unit is $30 but increases advertising to $110,000, what conclusions can you derive

following outcomes over the last seven months: Quantity Sold Price Advertising 8500 $ 2 $ 2,800 4700 $ 5 $ 200 5800 $ 3 $ 400 7400 $ 2 $ 500 6200 $ 5 $ 3,200 7300 $ 3 $ 1,800 5600 $ 4 $ 900 Regression (Equation) QSold = 8536.213882 - 835.7223514 Price + 0.592228496 Advertising A. Estimate sales when the price is $50 and advertising is $100,000, stating any assumption that you need to make. B. If the firm charges $50 and cost per unit is $30 but increases advertising to $110,000, what conclusions can you derive

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.6: Moving Averages Models

Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...

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