Practical Management Science
5th Edition
ISBN: 9781305250901
Author: Wayne L. Winston, S. Christian Albright
Publisher: Cengage Learning
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Chapter 14.3, Problem 6P
Summary Introduction
To determine: Whether the sales prices of houses in a given community vary systematically.
Introduction:
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year
quarterly sales
(000 units)
Q1
Q2
Q3
Q4
2016
1300
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2017
1600
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2200
2018
1700
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1300
2300
2019
1800
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Using a simple regression analysis, determine the trend equation of the sales and use it to estimate the number of units of clothing sold throughout the fiscal year 2020. Assume that Q1 of 2016 is 1, Q2 of 2016 is 2, etc. Show all relevant cakculation detail
Create a line graph for this set of monthly sales numbers.
Run a regression analysis.
What is the regression equation?
Is the regression equation significant? How can you tell?
What is the Rsquare? What does this signify?
What is the sales forecast for month 13?
1
550
2
548
3
546
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549
5
550
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548
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551
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551
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552
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551
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553
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553
Solve for the y-intercept and the slope.
Form the equation of the regression line that describes the relationship between the two variables.
Predict the profit of the fashion boutique business when the store measures 3,800 square feet. Explain the result.
Chapter 14 Solutions
Practical Management Science
Ch. 14.3 - Prob. 1PCh. 14.3 - Prob. 2PCh. 14.3 - Prob. 3PCh. 14.3 - Prob. 4PCh. 14.3 - Prob. 5PCh. 14.3 - Prob. 6PCh. 14.3 - Prob. 7PCh. 14.3 - Prob. 8PCh. 14.3 - Prob. 9PCh. 14.3 - Prob. 10P
Ch. 14.4 - Prob. 12PCh. 14.4 - Prob. 13PCh. 14.4 - Prob. 14PCh. 14.4 - Prob. 15PCh. 14.4 - Prob. 16PCh. 14.4 - Prob. 17PCh. 14.6 - Prob. 19PCh. 14.6 - Prob. 20PCh. 14.6 - The file P14_21.xlsx contains the weekly sales of...Ch. 14.6 - Prob. 22PCh. 14.7 - Prob. 23PCh. 14.7 - Prob. 24PCh. 14.7 - Prob. 25PCh. 14.7 - Prob. 26PCh. 14.7 - Prob. 27PCh. 14.7 - Prob. 28PCh. 14.7 - Prob. 29PCh. 14.7 - Prob. 30PCh. 14 - Prob. 31PCh. 14 - Prob. 32PCh. 14 - Prob. 33PCh. 14 - Prob. 34PCh. 14 - Prob. 35PCh. 14 - Prob. 36PCh. 14 - Prob. 37PCh. 14 - Prob. 39PCh. 14 - Prob. 40PCh. 14 - Prob. 41PCh. 14 - Prob. 42PCh. 14 - Prob. 43PCh. 14 - Prob. 44PCh. 14 - Prob. 45PCh. 14 - Prob. 46PCh. 14 - Prob. 49P
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