Question

Suppose that a company's sales volume y (in thousands of units) is related to its advertising...

Suppose that a company's sales volume y (in thousands of units) is related to its advertising expenditures x (in thousands of dollars) according to the following.

xy − 48x + 16y = 0

Find the rate of change of sales volume with respect to advertising expenditures when

x = 16

(thousand dollars).

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose that a company wishes to predict sales volume based on the amount of advertising expenditures....
Suppose that a company wishes to predict sales volume based on the amount of advertising expenditures. The sales manager thinks that sales volume and advertising expenditures are modeled according to the following linear equation. Both sales volume and advertising expenditures are in thousands of dollars. Estimated Sales Volume=46.22+0.45(Advertising Expenditures) If the company has a target sales volume of $275,000, how much should the sales manager allocate for advertising in the budget? Round your answer to the nearest dollar.
The following data represent a company's yearly sales volume and its advertising expenditure over a period...
The following data represent a company's yearly sales volume and its advertising expenditure over a period of 5 years. (Y) Sales in Advertising (X) Millions of Dollars in ($10,000) 15 32 16 33 18 35 17 34 16 36 (a) Compute the coefficient of determination for the estimated regression equation you got in the previous in-class problem. (b) Interpret the meaning of the value of the coefficient of determination that you found in (a). Be very specific. (c) Perform a...
The following data represent a company's yearly sales volume and its advertising expenditure over a period...
The following data represent a company's yearly sales volume and its advertising expenditure over a period of 5 years. (y) sales in millions of dollars (x) advertising in ($10,000) 15 32 16 33 18 35 17 34 16 36 Use the method of least squares to compute an estimated regression line between sales and advertising by computing b0 and b1. If the company's advertising expenditure is $400,000, what are the predicted sales? Give the answer in dollars. What does the...
The following data represent a company's yearly sales volume and its advertising expenditure over a period...
The following data represent a company's yearly sales volume and its advertising expenditure over a period of 8 years. (Y) Sales in Millions of Dollars (X) Advertising in ($10,000) 15 32 16 33 18 35 17 34 16 36 19 37 19 39 24 42 Develop a 95% confidence interval for predicting the average sales for the years when $400,000 was spent on advertising. i. Compute the correlation coefficient. alpha=5 urgently need detailed solution please
Suppose that a company's daily sales volume attributed to an advertising campaign is given by the...
Suppose that a company's daily sales volume attributed to an advertising campaign is given by the following equation. S(t) = [4/(t + 2)] − [36/(t + 2)^2] + 3 (a) Find how long it will be before sales volume is maximized. t = days (b) Find how long it will be before the rate of change of sales volume is minimized. That is, find the point of diminishing returns.
The relationship between the amount of money x that a company spends on advertising and the...
The relationship between the amount of money x that a company spends on advertising and the company's total sales S(x) is given by the following function where x is measured in thousands of dollars. S(x) = −0.002x3 + 0.3x2 + 7x + 500      (0 ≤ x ≤ 200) Find the rate of change of the sales with respect to the amount of money spent on advertising. S'(x) =
The following data represent a company's yearly sales volume and its advertising expenditure over a period...
The following data represent a company's yearly sales volume and its advertising expenditure over a period of 8 years. Advertising (x) Sales (y) 400,000 6,000,000 500,000 7,200,000 500,000 8,000,000 660,000 7,500,000 790,000 8,900.000 540,000 8,100,000 420,000 5,900.000 380,000 4,000,000 Develop a scatter diagram of sales versus advertising. Include the trendline equation and the coefficient of determination. If the company's advertising expenditure is $315,000, what are the predicted sales? If the company wanted $9,500,000 in sales, what should the advertising budget...
A firm has determined that its average level of sales (St) per week in thousands of...
A firm has determined that its average level of sales (St) per week in thousands of dollars during a given year depends on the previous year's level of sales (St–1), the previous year's level of advertising (At–1) per month in thousands of dollars, and the previous year's rate of annual industry growth (Gt-1) in percentage terms. In the previous period, the firm's average level of sales was $35 thousand, advertising was $5 thousand, and the rate of growth in the...
1. When $x thousand is spent on advertising a product, the sales (number of units sold)...
1. When $x thousand is spent on advertising a product, the sales (number of units sold) is given by S(x)= -x^3+9x^2+21x+100 for 0<=x<=10. Which of the following is not correct? Optional Answers: 1. Sales has a global (absolute) minimum at x=0 2. Sales has a global (absolute) maximum at x=7 3. Rate of sales has a global (absolute) maximum at x=3 4. Rate of sales has a global (absolute) minimum at x=0
Suppose that the output Q (in units) of a certain company is Q = 75K1/3L2/3, where...
Suppose that the output Q (in units) of a certain company is Q = 75K1/3L2/3, where K is the capital expenditures in thousands of dollars and L is the number of labor hours. Find ?Q/?K when capital expenditures are $343,000 and the labor hours total 8000. (Round your answer to the nearest whole number.) ?Q/?K =   thousand units per thousand dollars Interpret ?Q/?K. If labor hours remain at 8000 and K increases by $1000, Q will increase about ____ thousand units....