5

Develop causal regression model to forecast demand that includes both time and the introduction of new chip as explanatory variables_Demand + ( month New Chip Intro...

Question

Develop causal regression model to forecast demand that includes both time and the introduction of new chip as explanatory variables_Demand + ( month New Chip Introduced (Type integers or decimals rounded to three decimal places as needed )What would the forecast be for the next month if new chip introduced? What: would it be if a new chip is not introduced?If a new chip is introduced, the forecast for month 25 would be If a new chip is not introduced, the forecast for month 25 would be (Round t

Develop causal regression model to forecast demand that includes both time and the introduction of new chip as explanatory variables_ Demand + ( month New Chip Introduced (Type integers or decimals rounded to three decimal places as needed ) What would the forecast be for the next month if new chip introduced? What: would it be if a new chip is not introduced? If a new chip is introduced, the forecast for month 25 would be If a new chip is not introduced, the forecast for month 25 would be (Round to the nearest whole number as needed:) Click to select your answer(s).



Answers

Use the following situation to answer Exercises 4–20. A company produces a security device known as Toejack. Toejack is a computer chip that parents attach between the toes of a child, so parents can track the child’s location at any time using an online system. The company has entered into an agreement with an Internet service provider, so the price of the chip will be low. Set up a demand function—a schedule of how many Toejacks would be demanded by the public at different prices.

Is the linear regression line a good predictor? Explain.

Hello. So we have this problem where a store manager wants to know the demand for your product as a function of the price. And we're given this table where we have different prices that are represented by X. And we have the demand which is why or the daily sales. So for part A we have to find the least squares regression line by solving the system given to us. So let's start doing that right? Hey we have three B Plus 3.7 A. She goes to 105. Now mind you This 3.00 is the same as three at 3.70 3.7. I just made it simpler to write so we're going to use this first equation and saw for a now to do that first we're gonna is attracted to be on both sides. We'll get 105 -3 B. She goes to 3.7 a. Then we're gonna divide both sides by 3.7 Which is a equals 105 -3 b. Over 3.7. Now we know that a decimal can't be on the bottom but we're just going to leave it there for now and handle it a little later. So we're gonna use a and plug it into the second equation. So we have 3.7 b Plus 4.69. Times 105 minus three B. And this is over 3.7. Chief was to Laundry 23.9. Now We're going to distribute the four 69 into the parentheses to do so we're going to transform the decimals into fractions. So we have 416 9/1 100. I mean times that By 105 -3 B. This is gonna be over 37. Over Oh over 10. Sorry now notice how there's a fraction on the bottle. So we're just gonna do keep change flip meaning we're going to keep the numerator, changed the division to multiplication and then flip this fraction So it's going to be 105 -3 b. Times 10. And this is going to be divided by 37. Now bring down 469 Over 100. Well we know that 10 divided by 100. We just we could just do this And we're left with 10 on the bottom here Now 10 times 37 is 370. And then on top we're going to have 469 times 105 minus three B. And just so we remember let's bring down our other terms. 1:23.9 and then our three point seven B. Yeah. Let's see if we distribute 469 and the parentheses we'll get 49245 -4, 1807 or 1407 B. And this is over 3 70 And we got 3.7 b. And then the 123.9, that's now that's settled. We're going to Transform this 3.7 B by multiplying it by 370 over 370. So we could combine it with this numerator. Once we do that, we're going to end up with 1369 Be over at 3 70. Mhm. And a bad deal. The terms 49245 1407 B. Shaw equals to 123.9. Now We're going to multiply both sides by 370. These two cancel 3 70 here. So This time is 3 70 is 45,843. We write everything in the numerator, So 49002 RJ 45 five minus 1004 07 B. Yeah, notice how there's a B. Here and here. So we're going to combine these two together and we're going to end up with mm hmm, -38 B. Bring down the 49245 And set that equal to 45,843. Now we're gonna subtract both sides by 49245, 9245. And then we'll end up with a negative 38 B, which is equal two, -3402. We're going to divide both sides by negative 38 and we're gonna get a long decimal but Let's see is 89 50 two then six. And we're gonna round. So this of course this We're gonna round up, so this is approximately 89 53. Now that we got B we're gonna plug it in to the other equation to get A. So we have three times 89 0.53 Plus 3.7 a. Which equals to 105. and then three times 89.53 is 268.59. Bring down the 3.7 A 105. We're going to subtract 268.59 on both sides, 68.59. Bring out the 3.7 a. Now the difference between these two is negative, 100 is 63.59, Divide both sides by 3.7 And you're left with a equals negative 44.21. Now our regression line equation is Y equals -400. I mean 44 0.21 X plus 89 0.53. Now for part B of this problem, we have to see if this checks out. So I went ahead and plugged in the values and the from the chart into dez most. And let's see, we got M equals negative 44.8 21 05. Which rounds down to our um or a. And then we got B. Which is 89 .5263. Which we rounded to 89.53. So our answer holds up. So now for part see we have to use our model to predict it. The man when the prices $1.75. So are we going to do is just plug it in S. X. Into our equation. So we can have Y equals negative hold for 0.21 times $1.75 plus 89 0.53. These two multiplied together were equal to -77.36 75, and then Plus 89 2053. And we get y equals 12.1625. Of course, this is not a real dollar amount. So our answer would be why, I mean our demand, It would be about 12.16, Or because on the chart it's rounded to whole numbers, so we're just gonna round it down to 12. So that's our demand.

For this problem, we want to find a linear regression model. So looking at the data points we have, we get our X column is going to be 0 10 30 40 uh 10 2030 40. And then ry column is going to be 3 50 5 70 9, 29 15, 13 and 24 54. So we want to use regression model and we wanted to determine its gonna be exponential regression model. So when we plot this we'll do inserting of a chart. So with this regression model we wanted to include the points. We end up getting this right here so we can add a trend line um through these points. And when we add the trend line we end up getting that. Its model as an exponential is going to be given to us right here as 3 50 E. To the 0.48 X. We could get different models depending on what we're using. But this would be our regression model and it has a very high r squared value so we know it's accurate

This problem was given four data points of a supply demand curve. So this is for uhh for some tool, they didn't tell us what tool, some tool. And we have, let's see here, we have four different prices here. And then we have the not that we saw that each of those prices, so we can see that price goes up, the number that we sell goes down. How much is typical supply demand now. Um If you look at, if you go watch problem 24 you can see how I got all of these values in numbers. Um briefly. So first of all, I I plotted this data here and so I have are four points and they asked us to do a linear fit linear regression. Um And so I actually did that with the plot function here. So you just take a look over here. I said, okay, I want a linear trendline. And so I and then I told him to spit out what that is. So you can see our coefficients here. But I also used it. He used another function over here called linear estimate two. And then use index to extract the data. So using that, I got the coefficient for a to b minus 1.78 And then for be the intercept, I got 100 and 27. So you can see here 0.6 I guess. So you can see here that that's reproduced in these coefficients here. So they asked us, what did they ask us? Um, estimate the demand when the price is 30 to 95. So I said, X is 30 to 95. And then why equals, Take a look here is a times X plus B from these cells here. And we get you get a demand that roughly, you know, 69 I would expect. So right in between here, just as we would expect. So 32 right around here I guess. And then they ask us um what price would create a demand of 83 tools. So again, we're gonna be um extrapolating a little bit. So I said, okay, why is 83? So I need to invert this equation to find X. In terms of why which I did in this cell here. So this is the inverse. So it's why minus B. The whole thing divided by A. And what we see here is we get 83. So what it's telling us, you know, we get about 25. And so basically it's telling us that if we just we want to sell one more, it's probably, you know, we probably don't really need to change the price much. That's probably within variation of statistical and so you can see here that, you know, we're extrapolating a little bit. But um, the line kind of over fit, I mean kind of was a little bit of high estimate at this point here. So that's why we're getting, you know, this value here for even though we wanted to sell one more basically, that's kind of in the noise level. One more tool over, I don't know what some period. Um, so again, if they asked us for some other, you know, like if we wanted to, if we only wanted to sell, if we wanted to sell 100 of them, then that would make, you know, we'd be out here somewhere probably, you know, we have to cut the price quite a bit.

For this problem, we're going to do a nonlinear regression. So we have a log arrhythmic regression in this case Our ex guys are going to be 1-4 E. 12 and 16. And then our why valleys are going to be Uh to 9 11 yeah 14, 15. So changing this data here, this trend line, we want it to be log arrhythmic and as we see we'll get a fairly close log arrhythmic value. Our equation in this case is going to be if we increase its size and make a little darker, we see that it's going to be y equals 4.9364 times the natural log of X Plus 3.6407. As we see, this is fairly close to the data, we could choose perhaps better log rhythmic equation for it. But that's what the how much asking for. Um this is to 9 11, 14, 15 and there should be 124, 9, 4, 11, 8, 11. What four should go with 9? So this could be gone right here. So this should be four, there should be eight, there should be 12 and they should be 16. So we end up seeing we get a better model as a result, which is given by 4.6536 natural lagerback's plus 2.0812.


Similar Solved Questions

5 answers
Hi polnts SCalcET8 2.5.036 Use continuity to evaluate the limit Iim sin(x + sin(x))Need Help?RdlUh JciL41 polnts SCalcET8 2.5.045.MIFor what value of the constant € Is the function f continuous on (~0, c)? Cx2 + 6x if x < 5 If x > 5Need Help?Ruad llMakhlALlnkukel Met
Hi polnts SCalcET8 2.5.036 Use continuity to evaluate the limit Iim sin(x + sin(x)) Need Help? Rdl Uh JciL 41 polnts SCalcET8 2.5.045.MI For what value of the constant € Is the function f continuous on (~0, c)? Cx2 + 6x if x < 5 If x > 5 Need Help? Ruad ll Makhl ALlnk ukel Met...
5 answers
27 . Csmolarity ( Jsm) for solution oudd by mulliplying the Molanity Lhc colulion by ollcn uscd when discussing osmnotic pressure Whal the van "[ HofT Faclor, Osmolarity thc Csmolurity far cach cf the fcllowing solutions?0.30 M Sucrose0.30 M KBr0.30 Mi NiCCs0.30 M NaCzHjoz0.30 M Caj(?Osh
27 . Csmolarity ( Jsm) for solution oudd by mulliplying the Molanity Lhc colulion by ollcn uscd when discussing osmnotic pressure Whal the van "[ HofT Faclor, Osmolarity thc Csmolurity far cach cf the fcllowing solutions? 0.30 M Sucrose 0.30 M KBr 0.30 Mi NiCCs 0.30 M NaCzHjoz 0.30 M Caj(?Osh...
5 answers
QUESTion 14Which ONE of the following gives the approximation to (0 f(x,9) dy dx using m=2,n=3 and lower left endpolnts? [FQ, - 1)+f8,- 1)+f(,1)+fG,1)+f22,3)+ f8,3)1x2 D [F(1,1) +F(2,1) + f(1,3)+f03) +f(1,5) + f(2,5)1x2 [F(L, - 1)+f(2, - 1)+f61,1)+f(2,1)+f(1,3)+{(2,3)]*2 '[(2,1)+F(3,1)+f(2,3)+f(3,3)+f(2,5)+f(3,5)]*2
QUESTion 14 Which ONE of the following gives the approximation to (0 f(x,9) dy dx using m=2,n=3 and lower left endpolnts? [FQ, - 1)+f8,- 1)+f(,1)+fG,1)+f22,3)+ f8,3)1x2 D [F(1,1) +F(2,1) + f(1,3)+f03) +f(1,5) + f(2,5)1x2 [F(L, - 1)+f(2, - 1)+f61,1)+f(2,1)+f(1,3)+{(2,3)]*2 '[(2,1)+F(3,1)+f(2,3)+...
5 answers
Mebwon12i2math- 273-001 nomework 8 / 5Homework 8: Problem 5Pravlous ProblemProblom ListNoxt Prablempo Ntj spherical ballbon Inilated 50 Ihat /r5 volime ncrewsing Ihe rate 0t 3.6 ft "Imin. Hox rapldly Is tno dlamaler 0t the ballaon increasing vten Ihe dlameter 1.6 {eot?Tho dlamater incroncinoIvminProvlow My AngweidSubmlt AnawortYou haka aticrnplod thln problom Wmml You havU nitempla KninyEmat Ingtruclor
Mebwon 12i2math- 273-001 nomework 8 / 5 Homework 8: Problem 5 Pravlous Problem Problom List Noxt Prablem po Ntj spherical ballbon Inilated 50 Ihat /r5 volime ncrewsing Ihe rate 0t 3.6 ft "Imin. Hox rapldly Is tno dlamaler 0t the ballaon increasing vten Ihe dlameter 1.6 {eot? Tho dlamater incron...
5 answers
6-13 Supposc that & parallel platc capacitor has rectangular plates but the plates are not exactly parallel. The scparation at one edge is d _ a &nd d - 4 at the other cdge where Show that the capacitance is given approximately byC =wherc is the area of a plate: ( Hint: recall the results of Exercise 6-7.)
6-13 Supposc that & parallel platc capacitor has rectangular plates but the plates are not exactly parallel. The scparation at one edge is d _ a &nd d - 4 at the other cdge where Show that the capacitance is given approximately by C = wherc is the area of a plate: ( Hint: recall the results ...
1 answers
In a Little League baseball game, the 145 g ball reaches the batter with a speed of $15.0 \mathrm{m} / \mathrm{s}$. The batter hits the ball, and it leaves his bat with a speed of $20.0 \mathrm{m} / \mathrm{s}$ in exactly the opposite direction. What is the magnitude of the impulse delivered by the bat to the ball? b. If the bat is in contact with the ball for $1.5 \mathrm{ms}$, what is the magnitude of the average force exerted by the bat on the ball?
In a Little League baseball game, the 145 g ball reaches the batter with a speed of $15.0 \mathrm{m} / \mathrm{s}$. The batter hits the ball, and it leaves his bat with a speed of $20.0 \mathrm{m} / \mathrm{s}$ in exactly the opposite direction. What is the magnitude of the impulse delivered by the ...
5 answers
Let P =Prove that Tn 1 - 8/as n - O0.a-6
Let P = Prove that Tn 1 - 8/ as n - O0. a-6...
5 answers
Let = arcsin € + arcsin 2 Which of the following is the equivalent of the zer + y-y equation?c -1
Let = arcsin € + arcsin 2 Which of the following is the equivalent of the zer + y-y equation? c -1...
5 answers
1. NaOEt, EtOH 2. CH;l'OEt3.H,o heat
1. NaOEt, EtOH 2. CH;l 'OEt 3.H,o heat...
5 answers
Consider the transformationL : M22 3 R4defined asI ([a a])-<a+bc a + b,a +b+ €,a +b+c+ d >for everye Mz2: Is L an isomoprhism?
Consider the transformation L : M22 3 R4 defined as I ([a a])-<a+bc a + b,a +b+ €,a +b+c+ d > for every e Mz2: Is L an isomoprhism?...
4 answers
Provide an IUPAC name for the structure shown_ball & sticklabels
Provide an IUPAC name for the structure shown_ ball & stick labels...

-- 0.069566--