Q = 120 - 1.1P + 0.04 I + 0.90 A
Where P is price, I is income, and A is advertising. If price is equal to $1,000, income is equal to $20,000, and advertising expenditures are equal to $500, the what is the predicted quantity demanded? hide problem© BrainMass Inc. brainmass.com October 25, 2018, 2:41 am ad1c9bdddf
Use of multiple regression analysis to estimate demand
Forecasting using Regression Analysis
Demand for stereo headphones and CD players for joggers has caused Nina Industries to experience growth of almost 50% over the past year. The number of joggers is continuing to expand, so Nina expects demand for headsets to also expand. Demands for the stereo headsets for last year was as follows:
A. Using least squares regression analysis, what would you estimate demand to be for each month next year?
B. To be reasonably confident of meeting demand, Nina decides to use three standard errors of estimate for safety. How many additional units should be held to meet this level of confidence?
This problem has to be completed in Excel.View Full Posting Details