Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. quantitative problem: jasper jewelry has $160 mill

Quantitative Problem: Jasper Jewelry has $160 million in sales. The company expects that its sales...

80.2K

Verified Solution

Question

Finance

Quantitative Problem: Jasper Jewelry has $160 million in sales. The company expects that its sales will increase 5% this year. Jasper's CFO uses a simple linear regression to forecast the company's inventory level for a given level of projected sales. On the basis of recent history, the estimated relationship between inventories and sales (in millions of dollars) is as follows: Inventories = $9 + 0.08(Sales) Given the estimated sales forecast and the estimated relationship between inventories and sales, what is your forecast of the company's year-end inventory level? Enter your answer in millions. For example, an answer of $10,550,000 should be entered as 10.55. Do not round intermediate calculations. Round your answer to two decimal places. $ million

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

John Doe has just been offered a home loan towards purchase of house that is being...

Biology
1.2K views

The upper forelimbs of humans and bats have fairly similar skeletal structures,whereas the corresponding bones...

Geometry
1.2K views

What is the perimeter of rectangle ABCD A A 30 units B 40 units C...

Algebra
1.2K views

Simplify Assume all variables represent positive values V16c1066a16

Algebra
1.2K views

10 7 6 5 4 thot 9 7 The domain of f is 6 The...

Algebra
1.2K views

11 Write the polynomial in factored form and standard form with zeros 4 2 7

Accounting
1.2K views

Garden Sales, Incorporated, usually has to borrow money during the second quarter to...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] On January...

Accounting
1.2K views

Exercise 3-17 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO3-1, LO3-2, LO3-3, LO3-4]...

Accounting
1.2K views

Entity A is listed in Hong Kong. It is a toy manufacturer which commenced its...

Accounting
1.2K views

Calculate the Current Ratio Calculate Acid-Test (Quick) Ratio Calculate Inventory Turnover Calculate Accounts Receivable Turnover...

Finance
1.2K views

a. Calcalale the boal valie of the eriving computar cyttern b. Caiculate the inot-tax procseds...