This is the data from the last 4 weeks:
Use the equation of the regression line to forecast the increased sales for when the number of ads is 10.
Given the following data on the number of pints of ice cream sold at a local ice cream store for a 6-period time frame:
Compute a 3-period moving average for period 4. Use two places after the decimal.
The following data summarizes the historical demand for a product.
Month |
Actual Demand |
March |
20 |
April |
25 |
May |
40 |
June |
35 |
July |
30 |
August |
45 |
Use exponential smoothing with α = .2 and the smoothed forecast for July is 32. Determine the smoothed forecast for August.
Given the following data on the number of pints of ice cream sold at a local ice cream store for a 6-period time frame:
Compute a 3-period moving average for period 6. Use two places after the decimal
The following sales data are available for 2003-2008 :
Year |
Sales |
Forecast |
2003 |
7 |
9 |
2004 |
12 |
10 |
2005 |
14 |
15 |
2006 |
20 |
22 |
2007 |
16 |
18 |
2008 |
25 |
21 |
Calculate the absolute value of the average error. Use three significant digits after the decimal.
The following data summarizes the historical demand for a product
Month |
Actual Demand |
March |
20 |
April |
25 |
May |
40 |
June |
35 |
July |
30 |
August |
45 |
If the forecasted demand for June, July and August is 32, 38 and 42, respectively, what is MAPD? Write your answer in decimal form and not in percentages. For example, 15% should be written as 0.15. Use three significant digits after the decimal
Robert wants to know if there is a relation between money spent on gambling and winnings.
What is the coefficient of determination? Note: please report your answer with 2 places after the decimal point.
Consider the following annual sales data for 2001-2008.
Year |
Sales |
2001 |
2 |
2002 |
4 |
2003 |
10 |
2004 |
8 |
2005 |
14 |
2006 |
18 |
2007 |
17 |
2008 |
20 |
Calculate the correlation coefficient . Use four significant digits after the decimal.
Demand |
Random Number Ranges |
5 |
00-14 |
6 |
15-44 |
7 |
45-69 |
8 |
70-84 |
9 |
85-99 |
An investor is considering 4 different opportunities, A, B, C, or D. The payoff for each opportunity will depend on the economic conditions, represented in the payoff table below.
Economic Condition
Poor Average Good Excellent
Investment (S1) (S2) (S3) (S4)
A 50 75 20 30
B 80 15 40 50
C -100 300 -50 10
D 25 25 25 25
If the probabilities of each economic condition are 0.5, 0.1, 0.35, and 0.05 respectively, what is the highest expected payoff?
The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates that net revenues will vary with how well taxpayers comply with the new tax code. The following payoff table is given in thousands of dollars (e.g. 50 = $50,000).
If he uses the maximin criterion, how many new workers will he hire?