Lri cook has developed the following forecasting modely , Ask an Expert

Management Studies

Lori Cook has developed the following forecasting model:

y^{^} = 36 + 4.3x

where: y^{^} = demand for Kool Air conditioners and

x = the outside temperature (^oF)

a) Forecast demand for the Kool Air when the temperature is 70°F.

b) What is demand when the temperature is 80°F?

c) What is demand when the temperature is 90°F?

Price	Number Sold
$2.70	760
$3.50	510
$2.00	980
$4.20	250
$3.10	320
$4.05	480

Using these data, how many mocha latte coffees would be forecast to be sold according to simple linear regression if the price per cup were $2.80?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92170755

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