Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 Problem 3-29 (Algo) 60 points Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the

image text in transcribed
2 Problem 3-29 (Algo) 60 points Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for their line of stereo speakers. He is uncertain whether the unit price of the product of the effects of increased marketing are the main drivers in sales and wants to use regression analysis to figure out which factor drives more demand for its particular market Pertinent information was collected by an extensive marketing project that tasted over the past 12 years and was reduced to the data that follow YEAR 1 2 3 5 UNIT SALES THOUSANDS) PRICE SAUNIT 397 281 697 220 207 1,280 211 220 1.182 208 897 217 1,117 203 219 1,333 207 925 220 1.154 ADVERTISING (5000) 575 820 1.117 1,412 1,215 1,200 906 1.217 906 707 664 # 707 11 12 23 a. Perform a regression analysis based on these data using Excel (Negative values should be indicated by a minus sign. Round your answers to 4 decimal places.) 2.780 7787 2.049 3000Price 23737 advertising c. Predict average yearly speaker sales for Speakers and Company based on the regression results the price was $297 per unit and the amount spent on advertising in thousands was $896. (Enter your answer in thousands Round your intermediate calculations and final answer to 2 decimal places)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance For Real Estate Development

Authors: Charles Long

1st Edition

0874204305, 978-0874204308

More Books

Students also viewed these Finance questions