John Smith has developed the following forecasting model: Y = 36 + 4.3X1 Where Y = Demand

Question:

John Smith has developed the following forecasting model:

Y = 36 + 4.3X1

Where

Y = Demand for K10 air conditioners

X1 = the outside temperature (◦F)

(a) Forecast the demand for K10 when the temperature is 70°F.

(b) What is the demand for a temperature of 80°F?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Quantitative Analysis for Management

ISBN: 978-0132149112

11th Edition

Authors: Barry render, Ralph m. stair, Michael e. Hanna

See More Books

Question Posted: Aug 31, 2012 05:39 AM

See More Questions

Lori Cook has developed the following forecasting model: = 36 + 4.3x where = demand for Kool Air conditioners and x =5 the outside temperature ( F) a). Forecast demand for the Kool Air when the...
The Cooper Electronics Company has developed the following schedule of potential investment projects that may be undertaken during the next six months: a. If Cooper requires a minimum rate of return...
A fabric mill has developed the following forecasts (in hundred bolts of cloth). The mill has a normal capacity of 275 units (a unit=hundred bolts) per month, and employs 275 workers. Regular labour...
Within the context of the planning cycle, the planning that takes place at the highest levels of the firm is called: A. detailed planning and control. B. strategic planning. C. operational planning....
Growth Enterprises believes its latest project, which will cost $80,000 to install, will generate a perpetual growing stream of cash flows. Cash flow at the end of the first year will be $5,000, and...
Why is it important to study the small business failure rate and the causes of small business failures?
A US Treasury bond has a maturity of 10 years and a face value of $\$ 10,000$ with a $5 \%$ coupon rate. Trading of the bonds has been pretty active, and the current quoted price is $\$ 96,500$. What...
The list that follows presents Shah Companys accounts (in alphabetical order) as of March 31, 2014. The list does not include the amount of Accounts Payable. Prepare a trial balance with the proper...
A mortgage of $300,000 is to be repaid over a 25 year period at a fixed annual interest rate of 4.5%. Calculate the monthly repayments. Now suppose the potential purchaser of the mortgage can afford...
You have been asked to set up an assembly line to assemble a computer mouse. The precedence network is shown in Exhibit 8.12; task times in minutes are given in parentheses. There are 480 minutes of...
Explain how a plot of the residuals can be used in developing a regression model.
The operations manager of a musical instrument distributor feels that demand for bass drums may be related to the number of television appearances by the popular rock group Green Shades during the...
Wheelers church was damaged by smoke and soot when two gas heating units in the church overheated, causing flames to leap out of the top of the units. The churchs insurer refused to pay for the...
Solve the following managerial finance questions below: questions and the requirements below them: Q1: Cost of capital and capital budgeting decision VL Co., is one of the world's leading diversified...
B. Perform the following arithmetic operations by taking the 2's complement of the subtrahend, and also verify in decimal system: (24 points) (1) signed binary number: 10011-00100 (2) signed binary...
Figure 5 shows various types of multiplexing hierarchy. 40 GB OC-768 (i) (ii) (iii) X4 10 GB OC-192 X4 2.5 GB OC-48 622 MB OC-12 155 MB OC-3 52 MB OC-1 X4 STS-12 X4 STS-3 STS-1 SPE-3 X3 SPE E4 DS-3...
We looked at a short clip from the film "Get Out" while discussing language and power in society. Chris walks up to Logan at the drinks table to say hello and greets him with a gesture. Both his...
7. What is the solution to each of the following arithmetic expressions? a. 3+4 2 +9 b. 48/6 4-3 c. 40-6^2/3 d. 71 Mod 9 e. 9\4+3 f. 2^3+ (8-5) g. (15 Mod 2) - 1 +4* (16\5)
Pick the best choices in Problems 1134 by estimating. Do not measure. For metric measurements, do not attempt to convert to the U.S. system. The hardest part of the transition to the metric system is...
In the busy port of Chennai, India, the number of containers loaded onto ships during a 15-week period is as follows: 1. Develop a linear trend equation to forecast container loadings. 2. Using the...
Consider the benefits and limitations of technical standards such as ISO and EFQM in a rapidly evolving digital business environment.
Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previous classes as well as the...
Using the data in Problem 4-13, test to see if there is a statistically significant relationship between the grade on the first test and the final average at the 0.05 level of significance. Use the...
Steve Caples, a real estate appraiser in Lake Charles, Louisiana, has developed a regression model to help appraise residential housing in the Lake Charles area. The model was developed using...
Superior Micro Products uses the weighted - average method in its process costing system. Data for the Assembly Department for May appear below: Materials Labor Overhead Work in process, May 1 $ 1 9...
Vista Distributors purchases inventory in crates of merchandise. Assume the company began July with an inventory of 30 units that cost $300 each. During the month, the company purchased and sold...
Blue Company changed depreciation methods in 2025 from double-declining balance to straight-line. Depreciation prior to 2025 under double-declining-balance was 592,400, whereas straight-line...

John Smith has developed the following forecasting model: Y = 36 + 4.3X1 Where Y = Demand

Question:

Step by Step Answer:

a 36 4370 ...View the full answer

Quantitative Analysis for Management

Students also viewed these Statistics questions