Following are the data of a price and demand of an item recorded at different period...

Following are the data of a price and demand of an item recorded at different period of time for a garment manufacture Price(Rs.) 13 15 18 25 22 18 28 Demand 65 60 50 41 40 56 45 (a) Find the Karl Pearson’s Correlation coefficient. Also comment on its strength. (b) Estimate demand if price is Rs.68 (c) If Rs.2 is increased in price and demand is reduced by 3units, how the coefficient of correlation would be effected. (d) If regression coefficient of regression is y on x is 1.32 and x on y is 0.63. Find the coefficient of correlation between y and x.

Expert Solution

orchestra answered 2 years ago

The following data applies to a particular item of merchandise: On hand at start of period...

The following data applies to a particular item of merchandise: On hand at start of period 300 $5.10 1st purchase 500 5.20 2nd purchase 700 5.30 3rd purchase 600 5.50 Number of units available for sale 2,100 On hand at end of period 500 Number of units sold during period 1,600 Of the 1,600 units sold during the period, 300 were from the beginning inventory; 500 from the first purchase; 600 from...

A company has recorded data on the daily demand for its product (y in thousands of...

A company has recorded data on the daily demand for its product (y in thousands of units) and the unit price (x in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. x75 x2 437 y180 y2 2266 xy844 a. Using the above information, develop the least-squares estimated regression line and write the equation. b. Compute the coefficient of determination. c. Perform an F test and determine whether or not there is...

The actual demand data for an item at a local retailer during the past six weeks...

The actual demand data for an item at a local retailer during the past six weeks are shown below: WEEK ACTUAL DEMAND (number of units) Six weeks ago 202 Five weeks ago 201 Four weeks ago 199 Three weeks ago 200 Two weeks ago 203 One week ago 198 THIS WEEK ACTUAL DEMAND NOT KNOWN Determine the demand forecast for THIS WEEK using each of the following methods: a. A 3-week moving average. [3] b. A 4-week weighted moving average...

3. The following data show the average Home Price Index over asix-quarter period. Quarter Price Q1...

3. The following data show the average Home Price Index over asix-quarter period. Quarter Price Q1 2017 185.9 Q2 2017 190.1 Q3 2017 196.1 Q4 2017 196.1 Q1 2018 198.3 Q2 2018 203.7 a. Forecast the price index for Q3 2018 using a two-period simple moving average. (Round to two decimal places asneeded.) b. Calculate the MAD for the forecast in part a. (Round to two decimal places as needed.) c. Forecast the price index for Q3 2018 using a...

Data on demand over the last few years are available as follows: Time Period Demand 7...

Data on demand over the last few years are available as follows: Time Period Demand 7 years ago 7 6 years ago 28 5years ago 21 4 years ago 42 3 years ago 35 2 years ago 56 Last year 49 a. What is this year's forecast using trend-adjusted (double) smoothing with alpha=.2 and beta=.1, if the forecast for the last year was 56, the forecast for two years ago was 46, and the trend estimate for last year's forecast...

Company records indicate the following data for widgets: Date Item Quantity Unit Cost Sales Price Sept....

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Thomas' Bike Shop stocks a high volume item that has a normally distributed demand during the reorder period.

Thomas' Bike Shop stocks a high volume item that has a normally distributed demand during the reorder period. The average daily demand is 70 units, the lead time is 4 days, and the standard deviation of demand during the reorder period is 15.a. How much safety stock provides a 95% service level to Thomas?b. What should the reorder point be?

In a qualification test for the swimming world finals, the following data is recorded for a...

In a qualification test for the swimming world finals, the following data is recorded for a swimmer. In resting condition: heart rate (HR) of 60 beats / min, a stroke volume (VS) of 85 mL / min. During maximum effort in a test race on a slope: HR of 170 beats / min and a VS of 135 mL / beats. This swimmer weighs 68 kg and measures 178 cm. a) Calculate cardiac output (CO) b) Calculate the body surface...

Ram? Roy's firm has developed the following? supply, demand,? cost, and inventory data. Supply Available Period...

Ram? Roy's firm has developed the following? supply, demand,? cost, and inventory data. Supply Available Period Regular Time Overtime Subcontract Demand Forecast 1 30 15 5 50 2 35 15 5 50 3 40 20 5 60 Initial inventory 30 units Regular-time cost per unit $100 Overtime cost per unit $150 Subcontract cost per unit $250 Carrying cost per unit per month $44 Assume that the initial inventory has no holding cost in the first period and backorders are not...

We are preparing a master production schedule for a given item. For this item the demand...

We are preparing a master production schedule for a given item. For this item the demand forecast and booked orders are as follows: Week 1 2 3 4 5 6 Demand Forecast 60 60 80 80 80 50 Booked Orders 58 63 52 20 4 0 Our Week 0 projected on-hand is 132 units. Lead time for this item is 2 weeks, and the order policy for this item is a fixed quantity of 180 units. When this master schedule...

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