Does the forecast vary much from the actual data

Assignment Help Microeconomics

Reference no: EM13277409

Estimate the regression in Estimate by hand calculation the regression equation of the firm's sales revenue (Y) on its quality control expenditure (call it Z) for the data given:
Year (t) 1 2 3 4 5 6 7 8 9 10
Advertising (X1) 10 9 11 12 11 12 13 13 14 15
Quality control (X2) 3 4 3 3 4 5 6 7 7 8
Sales revenue (Y) 44 40 42 46 48 52 54 58 56 60
Z 2 3 4 5 6 7 8 9
Y Forecast
using Excel's regression function in the Data Analysis menu. (b) Using the coefficients found in the regression estimate, enter a formula (based in cells C6 through J6 to forecast the sales revenue when quality control goes from $2 million to $9 million a year. (c) Graph both the actual data and forecast using the graphing tool. Does the forecast vary much from the actual data?

Reference no: EM13277409

Questions Cloud

Find probability that call comes from within 2 km of tower : A cell-phone tower has a circular coverage area of radius 10 km. If a call is initiated from a random point in the coverage area, find the probability that the call comes from within 2 km of the tower.

What is the probability of drawing an ace and a jack : Two cards are drawn at random from a single well-shuffled deck of playing cards. What is the probability of drawing the ace of spades followed by the jack of hearts. What is the probability of drawing an ace and a jack (in either order).

What is the second clarinets frequency : Two musicians are comparing their clarinets. The first clarinet produces a tone that is known to be 442Hz, If the second clarinet produces a higher pitched tone than the first clarinet, what is the second clarinet's frequency

Calculate vphase primary and secondary-p-q and s : For a transformer with a line voltage of 34.5 KV on the primary and a line voltafe of 480V. Calculate Vphase primary and secondary,P,Q, and S for each of the following transformer connections and loads.

Does the forecast vary much from the actual data : Using Excel's regression function in the Data Analysis menu. (b) Using the coefficients found in the regression estimate, enter a formula (based in cells C6 through J6 to forecast the sales revenue when quality control goes from $2 million to $..

What is the final angular velocity of the disk : A person with mass mp = 70 kg stands on a spinning platform disk with a radius of R = 2.13 m and mass md = 187 kg. What is the final angular velocity of the disk

Total operating revenues of public transportation authority : The total operating revenues of public transportation authority are $100 million while its total operating costs are $120 million. The price of a ride is $1, and the price elasticity of demand for public transportation has been estimated to be..

Find the second moment and the variance of x : An optical communication system employs a photodetector whose output is modeled as a Poisson(λ ) random variable X. Find the second moment and the variance of X.

Find the probability that the aircraft cannot fly : On a certain aircraft, the main control circuit on an autopilot fails with probability p. A redundant backup circuit fails independently with probability q. The aircraft can fly if at least one of the circuits is functioning.

User Account

All Pages