Olly’s Yogurt Shoppe sells a variety of single-serve frozen yogurt flavors and toppings. The owner of Olly’s is trying to forecast its frozen yogurt sales for the upcoming year. The owner suspects that the number of times that Olly’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 following is a sample of the table of the records in that Excel file. Access the full data set online in the MyLab Accounting exercise.

Requirements
1. Using the full data set online and Excel, perform the following tasks and answer the questions.
2. Use the FORECAST.LINEAR function to predict new product sales at the levels of 300, 350, and 400 media mentions.
3. Does it appear that the number of media mentions will be a good predictor of sales of frozen yogurt? How can you tell?
4. How many quarts of frozen yogurt could Olly’s expect to sell if there were 425 mentions of Olly’s frozen yogurt in news and social media in a given week?

Transcribed Image Text:

1 Week 1 2 3 4 5 6 7 8 9 10 23 A 4 5 6 7 8 9 10 11 B Number of Media Mentions 403 479 191 205 481 443 55 466 140 429 C Frozen Yogurt Sales Volume (Quarts) 655 851 552 591 728 690 502 702 498 674