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Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for their line of

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Mark Price, the new productions manager for 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: UNIT SALES PRICE $ PER ADVERTISING YEAR (THOUSANDS) UNIT ($000) 1 398 298 585 2 700 218 827 3 898 208 1,116 1,298 216 1,411 1,153 218 1,213 1,188 207 1,290 898 216 905 8 1,116 204 1,116 9 988 218 796 10 1,332 298 905 11 924 221 706 12 818 238 680 a. Perform a regression analysis based on these data using Excel. Note: Negative values should be Indicated by a minus sign. Round your answers to 4 decimal places. y bar = Price + advertising c. Predict average yearly speaker sales for Speakers and Company based on the regression results if the price was $298 per unit and the amount spent on advertising (in thousands) was $898. Note: Enter your answer In thousands. Round your Intermediate calculations and final answer to 2 decimal places. Forecasted sales thousand units

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