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Submit Exercise 18-30 Static Hiroshi Sato, an owner of a sushi restaurant in San Francisco, has been following an aggressive marketing campaign to thwart the
Submit Exercise 18-30 Static Hiroshi Sato, an owner of a sushi restaurant in San Francisco, has been following an aggressive marketing campaign to thwart the effect of rising unemployment rates on business. He used monthly data on sales ($1,000s), advertising costs ($), and the unemployment rate (%) from January 2018 to May 2019 to estimate the following sample regression equation: Sales, = 17.51 + 0.03Advertising Costst-1 - 0.69Unemployment Rate -1- a. Hiroshi had budgeted $620 toward advertising costs in May 2019. Make a forecast for Sales for June 2019 if the unemployment rate in May 2019 was 9.1%. (Enter your answer in dollars not in thousands.) Salest b. What will be the forecast if he raises his advertisement budget to $700? (Enter your answer in dollars not in thousands.) Salest O Oo W 20 72OF e to search hp 6 3 W E R T G H S D F B N Xc. Reevaluate the above forecasts if the unemployment rate was 9.5% in May 2019. (Enter your answers in dollars not in thousands.) Advertising Salest 620 700 Q to search KI> E O W 20 72OF 3 8 W E R T Y P 5 D G H K X B N M
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