Question: Please solve this question: Consider the demand for Fresh Detergent in a future sales period when Enterprise Industries' price for Fresh will be 31 -

Please solve this question:

Please solve this question: Consider the demand for Fresh Detergent in a

Consider the demand for Fresh Detergent in a future sales period when Enterprise Industries' price for Fresh will be 31 - 3.?9. the average price of competitors' similar detergents will be x2 . 3. 75, and Enterprise Industriesr advertising expenditure for Fresh will be x3 . .00. A 95 percent prediction interval for this demand is given on the following JMP output Predicted Iowa]: 95% Mean Upper 95% Mean StdErr Indi'v lower 95% India' Upper 95% Indie Demand Demand Demand Demand Demand Demand 31 3259331396! 18652389673 3.6?43733250 .1963069253 6.7545'1'64921 93335036300? (a) Find and report the 95 percent prediction interval on the output. If Enterprise Industries plans to have in inventory the number of bottles implied by the upper limit of this interval. it can be very condent that it will have enough bottles to meet demand for Fresh in the future sales period. How many bottles is this? If we multiply the number of bottles implied by the lower limit of the prediction interval by the price of Fresh {$3.79}, we can be very confident that the resulting dollar amount will be the minimum revenue from Fresh in the future sales period. What is this dollar amount? {Round 95% Pl to 5 decimal places and dollar amount to 1 decimal place and Level of inventory needed to the nearest whole number.) Level of inventory needed = Lower dollar amount = _ lb} Calculate a 99 percent prediction interval for the demand for Fresh in the future sales period. Hint: n = 30 and s = 0.697. Optional technical note needed. The distance value equals Leverage. {Round your answers to 5 decimal places.) __I_1

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