Week 6 Assignment

1.) Use the following dummy variables to develop an estimated regression equation to account for seasonal effects only in the data. Qtr1 = 1 if Quarter 1, 0otherwise; Qtr2 = 1 if Quarter 2, 0 otherwise, Qtr3 = 1 if Quarter 3, 0otherwise. Based only on the seasonal effects in the data, compute estimates of quarterly sales for year 6.a. Report the estimate of sales for Year 6 Quarter 1. (Enter a whole value.)b. Report the estimate of sales for Year 6 Quarter 4. (Enter a whole value.)2.) Let Period t = 1 refer to the observation in quarter 1 of year 1; Period t = 2refer to the observation in quarter 2 or year 1; … and Period t = 20 refer to the observation in quarter 4 of year 5. Using the dummy variables defined in part (b) and Period (t), develop an estimated regression equation to account for seasonal effects and any linear trend in the time series. Based upon the seasonal effects in the data and linear trend, compute the estimates of quarterly sales for year 6.a. Report the estimate…

YEAR  ADVERTISING EXPENDITURE ($000) MEMBERSHIP SUBCRIPTIONS 2013 51 62 2014 58 68 2015 62 66 2016 65 66 2017 68 67 2018 76 72 2019 77 73 2020 78 72 2021 78 78 2022 84 73 2023 85 76 i) Plot the scattergraph for the data.           (ii) Use the data, to develop a regression equation relating advertising expenditure to membership.   (iii)  Estimate the membership if $40 000 is spent on advertising.            (iv)  How much must be spent on advertising to obtain a membership of 80 (000)?            (iv)  What is the nature of the relationship between advertising expenditure and membership?  (v)  Forecast 2024 membership using an alternative method, clearly explaining the limitations of your selected method.       (vi) What are the limitations of the method used in (i)?

A study to determine the correlation between bankdeposits and consumer price indices in Birmingham, Alabama,revealed the following (which was based on n = 5 years of da ta):• LX = 15• Lx2 = 55• Lxy = 70• Ly = 20• L/ = 130a) What is the equation of the least-squares regression line?b) Find the coefficient of correlation. What does it imply to you?c) What is the standard error of the estimate?

K 2. Setting an advertising budget is a forecasting exercise. What are the fundamental principles that should be adhered to when undertaking forecasting?   Be conservative and use the best evidence-based technique available Be innovative and use multiple methods and choose the optimal one Be conservative and use multiple evidence-based techniques, taking the average result Be innovative and use multiple evidence-based techniques, taking the average result

Please help with correct answers: step by step: last time submitted- answers were incorrect A statistical program is recommended. The quarterly sales data (number of copies sold) for a college textbook over the past three years follow. Quarter Year 1 Year 2 Year 3 1 1,690 1,800 1,850 2 940 900 1,100 3 2,625 2,900 2,930 4 2,500 2,360 2,615 a) Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. (Round your numerical values to the nearest integer.) Qrt1 = 1 if quarter 1, 0 otherwise; Qrt2 = 1 if quarter 2, 0 otherwise; Qrt3 = 1 if quarter 3, 0 otherwise t =    b) Using the equation developed in part (b), compute the quarterly forecasts for year 4. (Round your answers to the nearest ten.) quarter 1 forecast____? quarter 2 forecast____? quarter 3 forecast ____? quarter 4 forecast ____?   c) Let t = 1 refer to the observation in Quarter 1 of Year 1; let  t = 2 refer to the observation in Quarter 2 of Year…

3- The research is an important practice to do the practical work. The starting point of any research project is defining research problem and formulating research hypothesis. a. True b. False

Sales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to complete this regression equation.   Year Sales 1 1,640 2 1,850 3 1,240 4 1,250 5 1,980 6 1,400 7 1,060 8 1,430 9 1,050 10 1,990   (Indicate a negative answer using a "-" sign. Do not round intermediate calculations and round your answer to 3 decimal places.)       What is your forecast for next year's sales? (Do not round intermediate calculations and round your answer to 2 decimal places.)

which of the following are charactersitics of qualitative forecasting methods? 1. Function of past data,2.  Non numerical data , 3. useful when past data is avaialable , based on  4. broad range of knowledge , personal judgement, and intuition?

What are the disadvantages and advantages of Regression analysis technique?

If a manager asked you whether to use time-seriesforecasting models or regression-based forecastingmodels, what would you tell him or her?

How can startbucks company use multiple regression? Please provide an example and identify dependent and independent variables.

Consider the following time series.   t 1 2 3 4 5 yt 6 11 9 14 15     (a) Choose the correct time series plot.   (i)   (ii)           (iii)   (iv)         What type of pattern exists in the data?         (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series.   If required, round your answers to two decimal places.   y-intercept, b0 =   Slope, b1 =   MSE = (c) What is the forecast for t = 6?   If required, round your answer to one decimal place.

Because tests for the significance of coefficients in regression use two-tail hypothesis tests, which are less powerful than one-tail tests, it might be a good idea to    A. This is a moot point because coefficient significance is not really important   B. Whine and complain about it to your work colleagues   C. Live with a less powerful test for significance   D. Cut the p-value in half, or compare it to alpha times 2 to increase the test's power   E. All of the above   F. None of the above

Create a line graph for this set of monthly sales numbers. Run a regression analysis.       What is the regression equation?     Is the regression equation significant? How can you tell? What is the Rsquare?  What does this signify?   What is the sales forecast for month 13?       1 550   2 548   3 546   4 549   5 550   6 548   7 551   8 551   9 552   10 551   11 553   12 553

44. A new car dealership is considering opening branches in three of the largest cities in the state. As the expansion will require the hiring of new employees, the owners want to make sure that future customer demand for cars will be stable. Which factor in human capital planning would be important in this scenario? A.Competitor forecasts B.Interest rates forecasts C.Economic forecasts D.Production forecasts

Calculate a regression line for the data and indicate the forecast of sales for a store with advertising spending of R240,000? and R300,000? Store Advertising Sales 1 14 6 2 11 3 3 15 5 4 16 5 5 24 15 6 28 18 7 22 17 8 21 12 9 26 15 10 43 20 11 34 14 12 9 5

18. When Creamy Layer Inc. planned to introduce a new ice cream flavor, its senior executives looked at the sales history of earlier introductions to forecast the sales for the newest flavor. This is an example of an analogy approach for new product forecasting. Select one: O True O False

Which business research analysis assesses relationships between continuous data outputs and discrete data inputs?   1. Logistic Regression 2. Regression 3. ANOVA 4. Chi-Square Contingency Table 5. None of the above

_______ 7. Which of the following describes the PEST Analysis? A. A broad framework to help managers understand the environment inwhich their business operatesB. A checklist to ask how political, economic, strategic or technologicaldevelopments can influence an industry and a companyC. A checklist for forecasting political, economic, strategic or technologicalfactorsD. A framework for strategic analysis of internal and external environment

5. it is a tool that allows managers to make educated estimates on revenue and cost of the business in order to cope with uncertainties of the future a.estimating b. guesing c. forecasting d. benchmarking

Divvy Bikes 2021 summer ridership has increased 30% from the ridership levels in 2020.  Divvy's management attributes this to 2020 having fewer work places and recreation venues were open than in 2021.   This is an example of which type of data analytics?   Question 6 options:   a)  Descriptive   b)  Diagnostic   c)  Predictive   d)  Prescriptive

How efficient is an Regression analysis technique?

What is the difference between linear and multiple regression?

A manager has just received an evaluation from an analyst on two potential forecasting alternatives.The analyst is indifferent between the two alternatives, saying that they should be equally effective.Period 1 2 3 4 5 6 7 8 9 10Data 37 39 37 39 45 49 47 49 51 54Alt. 1 36 38 40 42 46 46 46 48 52 55Alt. 2 36 37 38 38 41 52 47 48 52 53a. What would cause the analyst to reach this conclusion?b. What information can you add to enhance the analysis?

Identify the key differences between qualitative and quantitative forecasting methods. Which is better in your opinion andwhy?

An electronic appliance manufacturer wants to know if there is a relationship between percentage change in deposable personal income which is reported quarterly by the government, and the percentage change in appliances sold by the manufacturer following same years of quarterly data. Brenda Chee and Clarence Paulus lead an analyst team has obtained data for the past 10 quarters. (Hint: Provides your answers in two decimal points)Table 1 Quarter % change in income % Change in appliance sold Quarter % change in income % Change in appliance sold 1 -2.3 -2.5 6 -1.0 1.0 2 -1.5 -1.0 7 0.7 1.4 3 2.8 7.4 8 5.2 3.4 4 0.5 2.6 9 -2.5 -0.5 5 4.6 8.5 10 1.7 1.8 (a) Identify which is the dependent variable and independent variable in this case.  (b) Develop the forecasting model from this data.  (c) Identify the nature of the relationship between two variables based on the data that you have here.