Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table: Maroon 5 TV Appearances Demand for Guitars 4 3 8 7 2 6 6 4 This exercise contains only parts b, c, and d. b) Using the least-squares regression method, the equation for forecasting is (round your responses to four decimal places): Y = 3.1552 + 0.4138 x 7 9 c) The estimate for guitar sales if Maroon 5 performed on TV 9 times= 6.88 sales (round your response to two decimal places). d) The correlation coefficient (r) for this model = 0.3470 (round your response to four decimal places). The coefficient of determination (2) for this model = (round your response to four decimal places). O 5 6
Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table: Maroon 5 TV Appearances Demand for Guitars 4 3 8 7 2 6 6 4 This exercise contains only parts b, c, and d. b) Using the least-squares regression method, the equation for forecasting is (round your responses to four decimal places): Y = 3.1552 + 0.4138 x 7 9 c) The estimate for guitar sales if Maroon 5 performed on TV 9 times= 6.88 sales (round your response to two decimal places). d) The correlation coefficient (r) for this model = 0.3470 (round your response to four decimal places). The coefficient of determination (2) for this model = (round your response to four decimal places). O 5 6
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 6P: Do the sales prices of houses in a given community vary systematically with their sizes (as measured...
Related questions
Question
the coefficient
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 3 images
Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,