BUSN 278 Week 2 Quiz

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BUSN 278 Week 2 Quiz

 1.Question :(TCO 3) Using the following information regarding actual sales for Sam’s Ski Supplies, calculate the regression (trend) line:

Sales for Sam’s Ski Supplies ($000s)
MonthFirst YearSecond Year
January380400
February340360
March320330
April280290
May265270
June230235
July220230
August200205
September210220
October250270
November400450
December450502
Student Answer: y = 264.92 + 2.79x
 y = 264.92 + 1.67x
 y = 283.64 + 2.79x
 y = 283.64 + 1.67x

 

 2.Question :(TCO 3) Using the following information regarding actual sales for Sam’s Ski Supplies, project sales for March of Year 3 using simple linear regression:

Sales for Sam’s Ski Supplies ($000s)
MonthFirst YearSecond Year
January380400
February340360
March320330
April280290
May265270
June230235
July220230
August200205
September210220
October250270
November400450
December450502
Student Answer: 308.62
 326.94
 328.61
 330.28

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 3.Question :(TCO 3) Using the following information regarding actual sales for Seafood City, calculate the seasonal ratio for Saturday of Week 3:

Sales for Seafood City ($)
DayWeek 1Week 2
Monday1,7001,800
Tuesday1,9002,000
Wednesday2,1002,100
Thursday2,3002,200
Friday4,2004,300
Saturday4,4004,600
Sunday2,1002,200
Student Answer: 0.84
 0.95
 1.58
 1.70

 

 4.Question :(TCO 3) Using the following information regarding actual sales for Paradise Pools, calculate the seasonal forecast of sales for April of Year 3:

Sales for Paradise Pools ($000s)
MonthFirst YearSecond Year
January8484
February8082
March8898
April100120
May150160
June200210
July240250
August220215
September180195
October160165
November120130
December92100
Student Answer: 122
 137
 165
 193

 

 5.Question :(TCO 3) The regression statistic that measures the degree of association between the dependent and independent variable is the:
Student Answer: correlation coefficient.
 coefficient of determination.
 standard error of the estimate.
 t-statistic.

 

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