Question: Caf 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

Caf 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:
Using simple linear regression
LOADING...
and given that the price per cup is
$1.75,
the forecasted demand for mocha latte coffees will be
nothing
cups (enter your response rounded to one decimal place).
Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10 weeks are shown in the table below: Week 1 2 3 4 5 6 7 8 9 10 Demand 19 23 29 38 24 30 35 22 25 28 a) The forecast for weeks 2 through 10 using exponential smoothing with a = 0.55 and a week 1 initial forecast of 19.0 are (round your responses to two decimal places): Week 1 2 3 4 5 6 7 8 9 10 Demand 19 23 29 38 24 30 35 22 25 28 Forecast 19.0 Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10 weeks are shown in the table below: Week 1 2 3 4 5 6 7 8 9 10 Demand 19 23 29 38 24 30 35 22 25 28 a) The forecast for weeks 2 through 10 using exponential smoothing with a = 0.55 and a week 1 initial forecast of 19.0 are (round your responses to two decimal places): Week 1 2 3 4 5 6 7 8 9 10 Demand 19 23 29 38 24 30 35 22 25 28 Forecast 19.0Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
