Mr. Cal Coolator uses a trend line forecasting model to forecast the daily demand for 1-quart water bottles at a convenience store based on the average temperature recorded outside during the day. The demand line is given by

This question relates to concepts covered in Sessions 3 and 4.

You can use any of the excel files posted online to work through the Quiz.

Mr. Cal Coolator uses a trend line forecasting model to forecast the daily demand for 1-quart water bottles at a convenience store based on the average temperature recorded outside during the day. The demand line is given by

Y=36+4.3*X

where Y = daily number of 1-quart water bottles demanded, and X = ambient temperature measured in degrees Fahrenheit.

What is the demand forecast for 1-quart water bottles on a day when the average temperature is 70 degrees Fahrenheit?