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Amanda [17]
2 years ago
13

The manager of a furniture factory that operates a morning and evening shift seven days a week wants to forecast the number of c

hairs its factory workers will produce on a given day and shift. The production manager gathers chair production data from the factory and lists whether the production day was a weekday or a weekend (i.e., Saturday or Sunday), and whether the shift was in the morning or evening. Create a regression model to analyze the relationship between the number of chairs produced, whether a day was a weekday or weekend, and whether the shift was in the morning or evening. Be sure to include the residuals and residual plots in your analysis.

Business
2 answers:
Triss [41]2 years ago
6 0

Answer:

<em>Answer will be 477</em>

Explanation:

From the details, note that the manager of a furniture factory that operates a morning and evening shifts seven days a week wants to forecast the number of chairs to be produced on a given day and shift by its factory employees.

<em>Consider Y is the vector reflecting the number of chairs the factory produces for its employees. </em>

The independent variables are:

x_{1i} = 1                    Weekday (Mon to Fri)

       0                    Weekend (Sat and Sun)

x_{2i} = 1                    Morning Shift

       0                    Evening shift.  

Observe that the regression line is as follows from the regression output given in the problem:

<em>Ŷ </em>= 405.58 + 70.97 * <em>Weekday </em>+ 47.85 * <em>Shift</em>.  

Calculate the number of chairs during the evening shift which will be generated on a Thursday.

For this problem, x_{1} = 1 because it's weekday and x_{2} = 0 because it's a shift from the evening.

<em>Ŷ </em>= 405.58 + 70.97 * <em>Weekday </em>+ 47.85 * <em>Shift</em>.  

  = 405.58 + 70.97 * (1) + 47.85 * (0)

  = 405.58 + 70.97 + 0

  = 476.55  

  = 477

<em>Thus, the number of chairs that will be generated during the evening shift on Thursday will be 477.</em>

maw [93]2 years ago
4 0

Answer:

Detailed solution is given below:

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Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects the following unit sales: Janu
Ksenya-84 [330]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

January 41,000

February 38,000

March 50,000

April 51,000

Patrick's policy is to have 25% of next month's sales in ending inventory. On January 1, it is expected that there will be 6,700 drums of solvent on hand.

January:

Sales= 41,000

Next month sales= 38,000*0.25= 9,500 units

Initial inventory= 6700 (-)

Total production= 43,800 units

February:

Sales= 38,000

Next month sales= 50,000*0.25= 12,500 units

Initial inventory= 9,500 (-)

Total production= 41,000 units

March:

Sales= 50,000

Next month sales= 51,000*0.25= 12,750 units

Initial inventory= 12,500 (-)

Total production= 50,250 units

April:

Sales= 51,000

Initial inventory= 12,500

Total production= 38,500 units

Total production= 173,550 units

4 0
2 years ago
Warner Company's year-end unadjusted trial balance shows accounts receivable of $99,000, allowance for doubtful accounts of $600
dsp73

Explanation:

The journal entry to record the uncollectible is shown below:

On December 31

Bad debt expense $800

        To Allowance for doubtful debts $800

(Being the bad debt expense is recorded)

The computation is shown below:

= Sales × estimated percentage - credit balance of doubtful accounts

= $280,000 × 0.5% - $600

= $1,400 - $600

= $800

5 0
1 year ago
The typical consumer's food basket in the base year 2015 is as follows: 30 chickens at $4 each 10 hams at $5 each 10 steaks at $
jarptica [38.1K]

Answer:

A) change in the cost of eating index = <u>20% increase</u>

B) Suppose that consumers are completely indifferent between two chickens and one ham. For this example, how large is the substitution bias in the official "cost-of-eating" index?

The <u>INCREASE</u> in the cost-of-eating index is <u>18</u> %.

The <u>OVERESTIMATE</u> of inflation in the cost of eating reflects substitution bias.

Explanation:

2015

product               units              unit cost               total

chickens              30                      $4                   $120

hams                    10                      $5                     $50

<u>steaks                  10                      $8                     $80</u>

total                                                                       $250

2016

product               units              unit cost               total

chickens              30                      $5                   $150

hams                    10                      $7                     $70

<u>steaks                  10                      $8                     $80</u>

total                                                                       $300

A) ($300 - $250) / $250 = 20%

B)

if consumers are indifferent for 2 chickens per 1 ham, then the new basket should be assuming consumers will purchase the cheapest option:

2016

product               units              unit cost               total

hams                    25                      $7                   $175

<u>steaks                  10                      $8                     $80</u>

total                                                                       $255

the increase in inflation would have been = ($255 - $250) / $250 = 2%

the substitution bias = reported inflation - real inflation = 20% - 2% = 18%

8 0
2 years ago
Standlar Company makes and sells wireless speakers. The price of the standard model is $360 and its variable expenses are $210.
Vladimir79 [104]

Total contribution margin = $3,000, standard models sold at break even=800, deluxe models sold at break even=400, superior models sold at break even=100

<u>Explanation:</u>

1.Using sales mix stated in the fact from Figure to form a package what is the total contribution margin?

total contribution margin  =($150 multiply 8) plus ($200 multiply 4) plus ($1,000 multiply 1)  = $3,000

2.Refer to Figure, What is the number of standard models sold at break even.

break even units  =Fixed cost divide contribution margin per package

= $300,000 divide $3000  =100 package  standard models sold at break even=100 package multiply 8 = 800

2.Refer to Figure, What is the number of deluxe models sold at break even.

break even units

=Fixed cost divide contribution margin per package  = $300,000 divide $3000

=100 package  deluxe models sold at break even = 100 package multiply 4

6 0
1 year ago
Josefina submitted a complaint online that is non-serious in nature. How will OSHA most likely respond?
OlgaM077 [116]

Answer:

B. Contact the employer by phone, fax, or email

Explanation:

Josefina submitted a complaint online that is non-serious in nature. The OSHA most likely respond by contacting the employer by phone, fax, or email.

Because the complaint is of informal or non serious nature, the other option does not sit well with the situation. To satisfy Josefina, they would just make a call or send and email or fax so she is satisfied and feels that her complaint is being looked at.

7 0
2 years ago
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