Question
In: Statistics and Probability
We consider data in the following table, summarizing sales of a product (in thousands). For each...
We consider data in the following table, summarizing sales of a product (in thousands). For each of the questions, justify your answer. Year Quarter Sales 2015 1 2 3 4 4.95 4.25 6.15 6.65 2016 1 2 3 4 5.85 5.35 6.95 7.55 2017 1 2 3 4 6.15 5.75 7.65 7.95 (3.1) Assuming the given time-series shows evidence of seasonality, Determine the estimate sales values. (5) (3.2) What is the value of the root mean squared error for the given process? (5) (3.3) Ignoring seasonality and assuming the the time-series as given follows an AR(1) process, what is the expected sales value for the first quarter of 2018? (5)
Solutions
orchestra answered 1 year agoRelated Solutions
We consider data in the following table, summarizing sales of a product (in thousands). For each...
We consider data in the following table, summarizing sales of a
product (in thousands). For each of the questions, justify your
answer.
Year
Quarter
Sales
2015
1
2
3
4
4.95
4.25
6.15
6.65
2016
1
2
3
4
5.85
5.35
6.95
7.55
2017
1
2
3
4
6.15
5.75
7.65
7.95
(3.1) Assuming the given time-series shows evidence of
seasonality, Determine the estimate sales values. (5)
Consider the following table summarizing the speed limit of a certain road and the number of...
Consider the following table summarizing the speed limit of a
certain road and the number of accidents occurring on that road in
January. Posted Speed Limit 52 50 43 36 21 22. Reported Number of
Accidents 27 26 23 18 18 11. 1) Find the slope of the regression
line predicting the number of accidents from the posted speed
limit.Round to 3 decimal places. 2) Find the intercept of the
regression line predicting the number of accidents from the posted...
#1) Consider the following table summarizing the speed limit of a certain road and the number...
#1) Consider the following table summarizing the speed limit of
a certain road and the number of accidents occurring on that road
in January
Posted Speed Limit
51
48
43
35
22
20
Reported Number of Accidents
25
29
25
17
19
14
a) Find the slope of the regression line predicting the number
of accidents from the posted speed limit. Round to 3 decimal
places.
b) Find the intercept of the regression line predicting the
number of accidents from...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
50,000
60,000
60,000
70,000
70,000
80,000
90,000
90,000
100,000
110,000
Sales ($)
299,001
371,000
364,000
430,000
440,000
485,000
535,000
546,000
595,000
675,000
What is the predicted sales quantity for an advertising
budget of $76,000?
Please round your answer to the nearest integer.
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
50,000
60,000
60,000
70,000
70,000
80,000
90,000
90,000
100,000
110,000
Sales ($)
299,001
371,000
364,000
430,000
440,000
485,000
535,000
546,000
595,000
675,000
What is the correlation value for the relationship
between advertising and sales?
Please round your answer to the nearest hundredth.
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
50,000
60,000
60,000
70,000
70,000
80,000
90,000
90,000
100,000
110,000
Sales ($)
299,001
371,000
364,000
430,000
440,000
485,000
535,000
546,000
595,000
675,000
What is the predicted sales quantity for an advertising
budget of $76,000?
Please round your answer to the nearest integer.
Note that the correct answer will be evaluated based...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
100,000
110,000
110,000
120,000
130,000
130,000
140,000
150,000
150,000
160,000
Sales ($)
603,000
676,000
655,000
748,000
796,000
785,000
858,000
891,000
935,000
980,000
What is the slope of the "least-squares" best-fit
regression line?
Please round your answer to the nearest hundredth.
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
50,000
60,000
60,000
70,000
70,000
80,000
90,000
90,000
100,000
110,000
Sales ($)
299,001
371,000
364,000
430,000
440,000
485,000
535,000
546,000
595,000
675,000
What is the correlation value for the relationship
between advertising and sales?
Please round your answer to the nearest hundredth.
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
80,000
80,000
90,000
100,000
100,000
110,000
120,000
120,000
130,000
140,000
Sales ($)
499,000
477,000
546,000
614,000
623,000
653,000
747,000
714,000
785,000
858,000
What is the slope of the "least-squares" best-fit
regression line?
Please round your answer to the nearest hundredth.
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
50,000
60,000
60,000
70,000
70,000
80,000
90,000
90,000
100,000
110,000
Sales ($)
299,001
371,000
364,000
430,000
440,000
485,000
535,000
546,000
595,000
675,000
What is the slope of the "least-squares" best-fit
regression line?
Please round your answer to the nearest hundredth.
Note that the correct answer will be evaluated based on the...
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