Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lovely Lawns, Inc., intends to use sales of lawn fertilizer to predict lawn mower sales. The store manager estimates a probable sixweek lan hetwefen fertilizer
Lovely Lawns, Inc., intends to use sales of lawn fertilizer to predict lawn mower sales. The store manager estimates a probable sixweek lan hetwefen fertilizer sales and mower sales. The pertinent data are: a. Determine the correlation between the two variables. (Round your answer to four declmal polnts.) b. Obtain a linear regression line for the data. (Round your answers to four decimal polnts.) e. Predict expected lawn mower sales for the first week in August, given fertilizer sales six weeks earlier of 1.7 tons. (Round your enswer to two declmel polnts.) National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Click here for the Excel Data File a. Forecast September sales volume using each of the following: (1) The naive approach. (2) A five-month moving average. (Round your answer to 2 decimal pleces.) (3) A weighted average using 0.60 for August, 0.20 for July, and 0.20 for June. (Round your answer to 2 decimal pleces.) (4) Exponential smoothing with a smoothing constant equal to 0.20, assuming a March forecast of 18(000). (Round your Intermedlate forecast velues and final answer to 2 declmal pleces.)
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