Explain what are the correlation coefficient, Operation Management

Assignment Help:

Mark Gershon, owner of a musical instrument dis-tributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Mark has collected the data shown in the following table-

a) Graph these data to see whether a linear equation might describe the relationship between the group's television shows and guitar sales.

b) Use the least- squares regression method to derive a forecasting equation.

c) What is your estimate for guitar sales if Maroon 5 performed on TV nine times last month?

d) What are the correlation coefficient ( r) and the coefficient of determination ( r2) for this model, and what do they mean?


Related Discussions:- Explain what are the correlation coefficient

Explain important terms of the factories act 1948, Explain important Terms ...

Explain important Terms of the factories act 1948. Important Terms of act: (a) Factory:  A place wherein ten or more persons are working and wherein a manufacturin

Important functions of maintenance department, Problem 1: What are the ...

Problem 1: What are the important functions of maintenance department? Day to day activities Keeping the machinery, equipment, and services in proper working condition

Why is it important to view the whole person, Why is it important to view "...

Why is it important to view "the whole person" as a human services professional, rather than focus on the problem at hand?

Explain what has been their global competitive advantage, Select a company ...

Select a company of your choice. What has been their global competitive advantage (either successful or not)? If not, what would be your suggestion to this company if you were hire

Explain primarily used to help design products, Which of the following is p...

Which of the following is primarily used to help design products that will connect product attributes with customer desires?

Explain why has globalization become so important, What specific challenges...

What specific challenges P&G and Colgate-Palmolive face, and why has globalization become so important to them?

Find what is the labour productivity per dollar, Klein Karpet cleaned 65 ru...

Klein Karpet cleaned 65 rungs in October, consuming the following resources: Labour: 520 hours at$13 per hour Solvent: 100 gallons at $5 per gallon Machine rental: 20 days at $50 p

Process layout - process design, Process Layout - Process Design This ...

Process Layout - Process Design This form of layout is used when there is no dominant flow pattern, and is particularly appropriate for job shop and small-batch operations. Th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd