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Forecasting model

9. John smith has developed the following forecasting model:
Y= 36+4.3X
where
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?

Solution Preview

Hi,

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 Summary

Solution contains calculation of demand at various temperatures.

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