Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can you please do all the parts Mark Price, the new productions manager tor Speakers and Company, needs to find out which variable most affects
can you please do all the parts
Mark Price, the new productions manager tor Speakers and Company, needs to find out which variable most affects the demand for their line of company speakers. He is uncertain whether the unit price of the product or 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 lasted over the past 12 years and was reduced to the data that follow: a. Perform a regression anolysis based on these data using Excel. Note: Negative values should be indicated by a minus sign. Round your answers to 4 decimal places. c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $296 per unit and the amount spent on odvertising (in thousands) was $895 Note: 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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started