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Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH January February March April May June July August September October November December DEMAND (UNITS) 4,180 4,280 3,980 4,380 4,980 4,680 5,280 4,880 5,380 5,680 6,280 5,980 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. Note: Do not round intermediate calculations. Round your answers to 2 decimal places.

Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH January February March April May June July August September October November December DEMAND (UNITS) 4,180 4,280 3,980 4,380 4,980 4,680 5,280 4,880 5,380 5,680 6,280 5,980 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. Note: Do not round intermediate calculations. Round your answers to 2 decimal places.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.4: Multiple Regression Models
Problem 17P: The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He...
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Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH January February March April May June July August September October November December Month January February March April May June a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. July August September October DEMAND (UNITS) November December 4,180 4,280 3,980 4,380 4,980 4,680 5,280 4,880 5,380 5,680 6,280 5,980 Forecast b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this level of confidence? ANCHOR tha naaract whole number
Transcribed Image Text:Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH January February March April May June July August September October November December Month January February March April May June a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.7. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. July August September October DEMAND (UNITS) November December 4,180 4,280 3,980 4,380 4,980 4,680 5,280 4,880 5,380 5,680 6,280 5,980 Forecast b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this level of confidence? ANCHOR tha naaract whole number
b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this level of confidence? Note: Do not round intermediate calculations. Round your answer to the nearest whole number. Additional units
Transcribed Image Text:b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this level of confidence? Note: Do not round intermediate calculations. Round your answer to the nearest whole number. Additional units
Expert Solution
Calculation methods:

Find the given details below:

Month Time Period Demand (Units)
January 1 4180
February 2 4280
March 3 3980
April 4 4380
May 5 4980
June 6 4680
July 7 5280
August 8 4880
September 9 5380
October 10 5680
November 11 6280
December 12 5980

Calculation methods:

a (intercept) = [(∑ y) (∑ x2) − (∑ x) (∑ xy)][n(∑ x2) − (∑ x)2]b (Slope) = [n(∑ xy) − (∑ x) (∑ y)][n(∑ x2) − (∑ x2)]Standard error of estimate = (y-Y)2n-2

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