Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 3 - 1 4 ( Static ) Demand for stereo headphones and MP 3 players for joggers has caused Nina Industries to grow almost
Problem Static
Demand for stereo headphones and MP players for joggers has caused Nina Industries to grow almost percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows:
tableMONTHDEMAND UNITSJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
a Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit Do not round intermediate calculations. Round your answers to decimal places.
tableMonthForecastJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
b To be reasonably confident of meeting demand, Nina decides to use three standard errors of estimate for safety. How many additional units should be held to meet this level of confidence? Do not round intermediate calculations. Round your answer to the nearest whole number.
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