John Smith has developed the following forecasting

model:

^

Y = 36 + 4.3X1

where

^

Y = demand for air conditioners

X1 = the outside temperature (F)

(a) Forecast the demand for air conditioners when the temperature is 70F.

(b) What is the demand for a temperature of 80F?

(c) What is the demand for a temperature of 90F?

(d) What is the demand for a temperature of 30F?

(d) What is the outside temperature if you have 500 air conditioner sales?

Use Excel to calculate your answers.