Question
Mikaela sells homemade pies to many local cafes in Wollongong. She keeps a record of the sales of homemade pies to help her with demand
Mikaela sells homemade pies to many local cafes in Wollongong. She keeps a record of the sales of homemade pies to help her with demand forecasting. The price of a single pie is $4.80. Mikaela has been using a 3-week moving average forecasting model to forecast the demand for a week. The Actual demand column displays the actual number of pies sold in the week, whereas the Forecast column shows the forecasts Mikaela has obtained by using the 3-week moving average forecasting model.
1.Each weekMikaela prints handouts to advertise her homemade pies. She has noticed that when more handouts are printed, more pies are sold. She would like to quantify the relationship between sales ($) and number of printed handouts using a linear regression model (y = ax+ b). Historical data about the number of printed handouts is presented in the following table. Find the linear regression model.
Week | Printed handouts |
1 | 1230 |
2 | 1345 |
3 | 1000 |
4 | 985 |
5 | 1005 |
6 | 1170 |
7 | 1109 |
8 | 1200 |
9 | 1250 |
10 | 990 |
11 | 1025 |
12 | 1260 |
2. In Week 13, she will print out 1100 copies of handouts. How much will she sell in Week 13 according to the regression model found in the previous question?
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