Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
Bartleby Related Questions Icon

Related questions

Question

Better if you use excel in the computations. Thank you.

FORECASTING - Linear Regression
General instruction: Solve the following problem as directed. Show your solutions. All computed
values should be rounded off to three decimal places. Show your answers clearly.
Lizzie wants to open a fashion boutique business. Before selecting a location, she
would like to be able to predict the profit in pesos that the store maybe expected to earn per
hundred square feet of selling space. She gathers the following data:
Store Size
Profit
1. Identify the independent and
dependent variabler
2. Compute for the correlation
coefficient (.
3. Based on 2, explain the
relationship between the two
variables. Discuss the implication
of this relationship ").
4. Solve for the y-intercept and the
slope i-
5. Form the equation of the
regression line that describes the
relationship between the two
variables
(100 sq. ft.) (R 10,000)
35
20
22
15
27
17
16
28
16
12
7
40
22
6. Predict the profit of the fashion
boutique business when the store
measures 3800 square feet.
Explain the result/
32
23
"Er-(E*)
expand button
Transcribed Image Text:FORECASTING - Linear Regression General instruction: Solve the following problem as directed. Show your solutions. All computed values should be rounded off to three decimal places. Show your answers clearly. Lizzie wants to open a fashion boutique business. Before selecting a location, she would like to be able to predict the profit in pesos that the store maybe expected to earn per hundred square feet of selling space. She gathers the following data: Store Size Profit 1. Identify the independent and dependent variabler 2. Compute for the correlation coefficient (. 3. Based on 2, explain the relationship between the two variables. Discuss the implication of this relationship "). 4. Solve for the y-intercept and the slope i- 5. Form the equation of the regression line that describes the relationship between the two variables (100 sq. ft.) (R 10,000) 35 20 22 15 27 17 16 28 16 12 7 40 22 6. Predict the profit of the fashion boutique business when the store measures 3800 square feet. Explain the result/ 32 23 "Er-(E*)
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Text book image
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
Text book image
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
Text book image
Business in Action
Operations Management
ISBN:9780135198100
Author:BOVEE
Publisher:PEARSON CO
Text book image
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Text book image
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.