Temperance, Inc: Computing the Most Accurate Sales Forecast
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Temperance, Inc. is studying marketing cost and sales volume, and has generated the following information by use of a scatter diagram and a least-squares regression analysis:
Scatter Diagram Regression Analysis
Variable cost per unit sold $ 5.80 $ 6.40
Total monthly fixed cost $ 45,500 $ 41,000
Temperance is now preparing an estimate for monthly sales of 19,000 units. On the basis of the data presented, compute the most accurate sales forecast possible.
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Solution Summary
The solution computes the most accurate sales forecast possible.
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The most accurate estimates would be provided by the Regression ...
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