9. John smith has developed the following forecasting model:
Y= demand for 10K air conditioners
X= the outside temperature
a) Forecast the demand for 10K when the temperature is 70F?
b) What is the demand for a temperature of 80F?
c) What is the demand for a temperature of 90F?
Please see response to your posting as explained below.
The forecasting equation is
Y = 36 + 4.3*X, where X is the outside temperature in F.
a) Forecast the ...
Solution contains calculation of demand at various temperatures.