In: Economics

You work for a snow cone company. You've collected data on monthly sales (S, number of snow-cones per month) and the price of your regular-size snow-cone (P, in dollars), as well as the daily average summer temperature in your most popular market (T, in degrees Fahrenheit). You estimate the following regression model:

**S = a + bP + cT**.

In your regressions, you usually look for a 10%-or-better level of confidence.

a) What are the expected signs for a, b, and c?

Your regression yields the following results:

Adjusted R Square 0.883

*Independent
Variables Coefficients Standard
Error t
Stat
P-value*

Intercept 2718 598 4.544 0.00615

P -641.62 90.23 -7.111 0.00085

T 10.32 6.36 1.623 0.16562

b) The estimated coefficient for a (intercept) suggests that?

c) The estimated coefficient for b (price of the regular size snow-cone) suggests that?

d) The estimated coefficient for c (daily average summer temperature) suggests that?

e) The price of the regular size snow-cone has a statistically significant effect on our sales? True or False

f) Daily average summer temperature affects the sales of regular size snow-cones in a statistically significant way? True or False

g) What portion of the total variation in sales of the regular size snow-cone remains unexplained?

h) The snow cone company is considering selling in a new city, where the average daily summer temperature is 83°, for a price of $4.10. What level of sales would you expect in this new city (rounded to the nearest unit)?

You work for SneauxCeauxne, the
Cajun-inspired crushed-ice dessert company. You’ve collected data
on monthly sales (S, number of snow-cones per month) and the price
of your regular-size snow-cone (P, in dollars), as well as the
daily average summer temperature in your most popular market (T, in
degrees Fahrenheit). You estimate the following regression model: S
= a + bP + cT. In your regressions, you usually look for a
10%-or-better level of confidence.
a. What signs do you
expect for...

You work for Mut the Custard, a frozen
custard company. You’ve collected data on monthly sales (S, number
of regular-sized frozen custards per month) the price of your
regular-sized frozen custard (P, in dollars), and the population
size in the different cities in which your company operates (N,
number of people; you currently only have one establishment in each
city). You estimate the following regression model: S = a + bP +
cN. In your regressions, you usually look for...

A sales manager collected data on annual sales for new customer
accounts and the number of years of experience for a sample of 10
salespersons. In the Microsoft Excel Online file below you will
find a sample of data on years of experience of the salesperson and
annual sales. Conduct a regression analysis to explore the
relationship between these two variables and then answer the
following questions.
Salesperson
Years of Experience
Annual Sales ($1000s)
1
3
79
2
4
92...

You are considering buying a corner snow cone business for
$100,000. As a conservative business person, you assume zero
salvage value at the end of the project. You assume annual sales of
12,000 snow cones per year. The price of a snow cone in year 1 is
$5.00/ea. Operating costs are estimated to be $8,000/yr. The
project evaluation life is 3 years, and the minimum rate of return
is 15%.
(a) Conduct a single-variable sensitivity analysis of the
project, looking...

make it in C++ with pointerA retail company must file a monthly sales tax report listing
the sales for the month andthe amount of sales tax collected. Write a program that asks for
the month, the year,and the total amount collected at the cash register (that is, sales
plus sales tax). Assumethe state sales tax is 4 percent and the county sales tax is 2
percent.If the total amount collected is known and the total sales tax is 6
percent,...

Must be done in Visual StudiosA retail company must file a monthly sales tax report listing
the sales for the month and the amount of sales tax collected.
Write a program that asks for the month, the year, and the total
amount collected at the cash register (that is, sales plus sales
tax). Assume the state sales tax is 4 percent and the county sales
tax is 2 percent.If the total amount collected is known and the total sales tax...

The data below collected for the number of at bats and the
number of hits in the world series:
Subject
At Bats
Hits
A
51
19
B
67
25
C
77
30
D
44
20
E
55
23
F
39
16
G
45
18
1. Draw a scatterplot (10 points)
2. Find the correlation coefficient r (45 points)
3. Find the equation of the regression line and graph the
equation on the scatterplot (35 points)
4. How many hits...

You have decided to open three snow cone stands for the summer,
have hired college kids, and are using cash registers as outlined
(you have a key to the cash register at each location, and so does
the lead employee for each shift). You want to make sure that the
sales are properly controlled. In your initial post, write
a list of procedures for employees when ringing in sales and giving
change, and then articulate the role of the lead...

You've collected the following information about Oscar &
Ollie Inc.:
Sales = $165,000
Net Income = $14,800
Dividends = $9,300
Total Debt = $68,000
Total Equity = $51,000
What is the sustainable growth rate? If it does grow at this
rate, how much new borrowing will take place in the coming year,
assuming a constant debt–equity ratio? What growth rate could be
supported with no outside financing at all?

A retail company must file a monthly sales tax report listing
the total sales for the month, and the amount of state and county
sales tax collected. The state sales tax rate is 5 percent and the
county sales tax rate is 3 percent. Create a GUI application that allows the user to enter the total sales for the
month into a text field. From this figure, the application should
calculate and display the following: The number of county sales tax...

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