# Multiple Regressions Week 4 Assignment Chapter 12 Problem 64 (Math Problem Sample)

For this assignment, you are required to complete Problem 64 (p. 593) in Chapter 12 of your textbook. Use the appropriate Excel file templates from www.cengagebrain.com. Once complete, post your Excel Document in Waypoint. Show all work.

23-64) Let Yt be the sales during month t (in thousands of dollars) for a photography studio, and let Pt be the price charged for portraits during month t. The data are in the file P11_45.xlsx (Links to an external site.)Links to an external site.. Use regression to fit the following model to these data:

Yt = a + b1Yt−1 + b2Pt + et

This equation indicates that last month's sales and the current month's price are explanatory variables. The last term, et, is an error term.

If the price of a portrait during month 21 is $10, what would you predict for sales in month 21?

Does there appear to be a problem with autocorrelation of the residual? Explain your answer.

Multiple Regressions: Week_4_Assignment_Chapter_12_Problem 64

Multiple Regressions

Name

Institution

Date

If the price of a portrait during month 21 is $10, what would you predict for sales in month 21?There is a lagged dependent variable (sales) and this is an autoregressive model or a dynamic model. In the first observation there was no data for the lagged sales lag value in undefined observations is set to $ 400,000

Yt = a + b1Yt−1 + b2Pt + et]

Y[t] =661350.2732 0.7703 b1 [Yt−1] - 19396.3 b2 [Pt] + e[t]

Y[t)661350.2732 0.7703 b1 [$907,000] - 19396.3 (10)+ e[t] = $ 1 166, 085

SUMMARY

Regression Statistics

Multiple R

0.834283846

R Square

0.696029536

Adjusted R Square

0.660268305Standard Error228705.965Observations20

ANOVA

### Other Topics:

- Math Problem Assignment Paper: Report of Gini IndexDescription: The low household income in Arizona stipulates that more household members share less income compared to those in Colorado. Thus, an indication that there are more poor persons in Arizona than they are in Colorado....3 pages/≈825 words | 6 Sources | APA | Mathematics & Economics | Math Problem |
- Algebra Assignment: The Task on Highest Number of iPhone 6 SoldDescription: This represents the highest number of iPhone 6 that were sold on the day the phones went on sale. The number of iPhones decreased....1 page/≈275 words | No Sources | APA | Mathematics & Economics | Math Problem |
- Frequency DistributionsDescription: The number of vacation days taken by employees of a company is normally distributed with a mean of 14 days and a standard deviation of 3 days. ...1 page/≈275 words | No Sources | APA | Mathematics & Economics | Math Problem |