Refer to question 72. Use the MINITAB program in terms of the regression approach to forecast sales in 1991. Compare your results to those you got with the ratio method in question 70.

Question 70

A company is interested in estimating the value of accounts receivable for its 75 stores. To do this, the company collects information on 1990 and 1991 accounts receivable from a simple random sample of 10 stores. The results of this sampling study are given in the table.

Suppose 1990 accounts receivable were $ 1.4 million. Use the ratio method to estimate the accounts receivable for 1991.

Question 72

A company is interested in estimating sales for its 200 stores. To do this, the company collects information on 1990 and 1991 sales from a simple random sample of 12 stores. The results of this sampling study are given in the table.

Suppose 1990 sales were $27 million. Use the ratio method to estimate the sales for 1991.

Transcribed Image Text:

Store 1 2 234 5 6 7 8 9 10 1990 accounts receivable $15,600 9,510 27,000 18,000 32,000 22,200 25,200 15,000 19,600 9,900 1991 accounts receivable $16,200 8,900 29,000 19,200 32,500 19,000 28,500 17,000 24,000 11,100