Freezys Yogurt Shoppe sells a variety of single-serve frozen yogurt flavors and toppings. The owner of Freezys
Question:
Freezy’s Yogurt Shoppe sells a variety of single-serve frozen yogurt flavors and toppings.
The owner of Freezy’s is trying to forecast its frozen yogurt sales for the upcoming year.
The owner suspects that the number of times that Freezy’s is mentioned in any news or social media each week helps to predict the sales volume in quarts of its frozen yogurt.
The owner has gathered the weekly sales volume of frozen yogurt from the past year and the number of media mentions in those same weeks. The owner used Excel to analyze the data. An excerpt from that analysis follows.
1. In this data set, what field is the predictor variable (x)? What field is the outcome variable (y)?
2. What function(s) did the owner use to prepare the analysis in Excel?
3. What steps would be involved in preparing the analysis in Excel?
4. Does it appear that the number of media mentions will be a good predictor of sales?
How do you know?
5. How many quarts of frozen yogurt could Freezy’s expect to sell if there were 625 mentions of Freezy’s frozen yogurt in news and social media in a given week?
6. Which cell(s) could you change in the Excel worksheet to predict quarts sold if there were 700 mentions in news and social media in a given week?
Step by Step Answer:
