Question

In: Math

A furniture store has maintained monthly sales records for the past 20​ months, with the results...

A furniture store has maintained monthly sales records for the past 20​ months, with the results shown below.

Month

Sales

1

2360

2

1820

3

1760

4

1560

5

1950

6

1950

7

3360

8

1740

9

3780

10

2400

11

2160

12

2760

13

3570

14

2820

15

2800

16

1890

17

2500

18

3630

19

2530

20

3270

Assume you have determined there is NO SEASONALITY in this time series.​ Therefore, you want to fit a linear trend model​ (that is, trend​ only) to the data.

Calculate the linear trend equation.​ (Round coefficients to the nearest whole​ number.)

y= _+ _ * t

nothing​*t

What are the test statistic and​ p-value to test for a significant trend. Round both to two decimal places.

T​ =

​p-value =

Is the trend significant using a​ 10% significance​ level?

Yes

No

What is the value of​ R-squared? (Round to two​ decimals.)

Forecast the sales for the next month​ (t =​ 21). (Round to the nearest whole​ number.)

Upper F21=?

Based on the​ R-squared value, how confident are you in this​ forecast? (That​ is, how accurate do you think the forecasts will​ be?)

A.

Not confident at all because the​ R-squared value is so low

B.

Very confident because the​ R-squared value is high

C.

Somewhat confident because the​ R-squared value is moderate​ (not extremely high but not extemely​ low)

Click to select your answer(s).

Solutions

Expert Solution

milcah answered 9 months ago
Next > < Previous

Related Solutions

A furniture store has maintained monthly sales records for the past 20​ months, with the results...
A furniture store has maintained monthly sales records for the past 20​ months, with the results shown below. Month Sales 1 2360 2 1820 3 1760 4 1560 5 1950 6 1950 7 3360 8 1740 9 3780 10 2400 11 2160 12 2760 13 3570 14 2820 15 2800 16 1890 17 2500 18 3630 19 2530 20 3270 Assume you have determined there is NO SEASONALITY in this time series.​ Therefore, you want to fit a linear trend...
Fast Service Store has maintained daily sales records on its two most popular products: the Jumbo...
Fast Service Store has maintained daily sales records on its two most popular products: the Jumbo Cool Drink and the Jumbo Warm Sandwich. Probability Jumbo Cool Drink Sales Jumbo Warm Sandwich Sales .15 75 20 .20 120 35 .05 125 30 .20 80 25 .30 90 15 .10 65 10 Using the information above, determine: the covariance of the probability of selling the two products. The correlation between the probabilities What does this tell you?
Sequoia Furniture Company’s sales over the past three months,half of which are for cash, were...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were as follows: March April May $440,000 $690,000 $560,000 a. Assume that Sequoia’s collection period is 60 days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May? b. Now assume that Sequoia’s collection period is 45 days. What would be its cash receipts in May? What would be its accounts receivable balance at the...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were as follows: March April May $402,000 $652,000 $522,000 a. Assume that Sequoia’s collection period is 60 days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May? b. Now assume that Sequoia’s collection period is 45 days. What would be its cash receipts in May? What would be its accounts receivable balance at the...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were as follows: March $408,000 April $658,000 May $528,000 a. Assume that Sequoia’s collection period is 60 days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May? - Cash Receipts: ? - Accounts receivable balance:? b. Now assume that Sequoia’s collection period is 45 days. What would be its cash receipts in May? What...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were as follows: March April May $438,000 $688,000 $558,000 a. Assume that Sequoia’s collection period is 60 days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May? b. Now assume that Sequoia’s collection period is 45 days. What would be its cash receipts in May? What would be its accounts receivable balance at the...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were...
Sequoia Furniture Company’s sales over the past three months, half of which are for cash, were as follows: March April May $430,000 $680,000 $550,000 a. Assume that Sequoia’s collection period is 60 days. What would be its cash receipts in May? What would be its accounts receivable balance at the end of May? Cash receipts Accounts receivable balance b. Now assume that Sequoia’s collection period is 45 days. What would be its cash receipts in May? What would be its...
ORDERS VS. SHIPMENTS CUSTOMERS IN PAST 6 MONTHS MONTHLY SALES ($) Size # Ordered # Received...
ORDERS VS. SHIPMENTS CUSTOMERS IN PAST 6 MONTHS MONTHLY SALES ($) Size # Ordered # Received Customer # # Visits $ Purchases Month $ Sales Extra Small 30 23 1 8 468 Jan 1375 Small 50 54 2 6 384 Feb 1319 Medium 85 92 3 8 463 Mar 1222 Large 95 91 4 2 189 Apr 1328 Extra Large 60 63 5 10 542 May 1493 2X Large 45 42 6 4 299 Jun 1492 7 6 345 Jul...
Past records show that at a given college, 20% of the students who began as economics...
Past records show that at a given college, 20% of the students who began as economics majors either changed their major or dropped out of school. An incoming class has 110 beginning economics majors. What is the probability that at most 30% of these students will leave the economics program?
Winfield Company operates a retail store a) Below is a table containing monthly sales and sales...
Winfield Company operates a retail store a) Below is a table containing monthly sales and sales staff compensation, in dollars for the previous year. Use the high-low method to create an equation in the form Y = a+ bX to describe the behavior of sales staff compensation. Month Comp Sales 1 412,700 1,808,000 2 386,000 1,659,000 3 359,700 1,512,000 4 346,500 1,138,000 5 359,400 1,218,900 6 341,000 1,233,000 7 366,500 1,409,300 8 364,200 1,437,000 9 400,100 1,616,600 10 443,000 1,833,000...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT