Describe the critical decision factors

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Reference no: EM132223257

Total marketing effort is a term used to describe the critical decision factors that affect demand. Let the variable x represent total marketing effort. Variable x contains 10 values. A typical Demand model that is used to predict demand, D, as a function of total marketing effort is: D = a*x^b Parameter a is given and is positive. Different demand model forms result from varying the values of parameter b.

• Calculate the Demand for each combination of x, a and b in the 10 by 5 array.

• Be careful to use absolute cell references where needed. Create a StatTools data set for data beginning in D4 to I14.

• Create a Time Series chart using StatTools.

• Make sure to label all parts to the chart: title, y axis, x axis and legend.

• Make the chart larger.

CAN YOU PLEASE PROVIDE DIRECTIONS ON HOW TO DO THIS USING STAT TOOLS IN EXCEL?

Reference no: EM132223257

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