Show Timer Question Completion Status QUESTION 28 You are responsible for foreca
ID: 325805 • Letter: S
Question
Show Timer Question Completion Status QUESTION 28 You are responsible for forecasting the beer category at a regional grocery. You have determined that weekly demand can be estimated by a linear regression function expressed as 1,014.64+66.26 (X), where X-the average weekly temperature. This regression has an R2 of 78.76. Based on historical patterns, you estimate the average weekly temperatures for the next four weeks to be 55, 56, 57, and 59 degrees, respectively. What are your estimates for demand for beer for the next four weeks? Using the linear regression function, calculate and complete the table below. Important Round the forecast of demand to the nearest whole number. Enter forecast as ### or #,###. Week Mean Temperature Forecast of Demand 4,659 2 56 57 4 59 Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answersExplanation / Answer
Week 1 forecast of demand = 1,014.64 + 66.26 * 55
Week 1 forecast of demand = 4659
Week 2 forecast of demand = 1,014.64 + 66.26 * 56
Week 2 forecast of demand = 4725
Week 3 forecast of demand = 1,014.64 + 66.26 * 57
Week 3 forecast of demand = 4,792
Week 4 forecast of demand = 1,014.64 + 66.26 * 59
Week 4 forecast of demand = 4,924