ales from her lemonade stand as a pie chart, tracking how much she sells each day to track the overall trend. Explain why this plan will not work and what she could use instead.
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Gretchen is proposing to present the sales from her lemonade stand as a pie chart, tracking how much she sells each day to track the overall trend. Explain why this plan will not work and what she could use instead.
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- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?The Fitter Snacker company sold 6,435 cases of snack bars in June of the previousyear. They are expecting sales to increase by 3% this year. In addition, they arelaunching a promotional campaign in May, which they expect will increase sales inJune by an additional 500 cases.Calculate the sales forecast for June of this year that Fitter Snacker should use?Show all your calculation steps
- Demand forecasting is a process of O a. Estimation of previous year demand based on current data b. Estimation of future demand based on past and present data O c. Prediction of past demand based on future data o d. Prediction of last year demand using past data For Disney World, there are six main parks. A forecast of daily attendance at each is the main number thatdetermines labour, maintenance, and scheduling. Disney develops daily, weekly, monthly, annual, and 5-year forecasts. At Disney, forecasts are reviewed daily at the highest levels to make sure that the model, assumptions, anddata are valid. Disney uses a variety of statistical models including moving averages, econometrics, and regression analysis.It also employs judgmental, or nonquantitative models. Disney uses park attendance forecasts to drive decisions about staffing, opening times, ride availability, andfood supplies. Disney’s forecasting team employs 35 analysts and 70 field personnel to survey 1 million people/businessevery year. Disney uses a firm called Global Insights for travel industry forecasts and gathers data on exchange rates,arrivals into the U.S., airline specials, Wall Street trends, and school vacation schedules. At Disney, Error measures are applied;…Gretchen is proposing to present the sales from her lemondade stand as a pie chart tracking how much she sells each day to track the overall trend. Explain why this plan won't work and what she could use instead
- The following table shows the past two years of quarterly sales information. Assume that there are both trend and seasonal factors and that the seasonal cycle is one year. Use time series decomposition to forecast quarterly sales for the next year. (Do not round intermediate calculations. Round your answers to the nearest whole number.) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs 105.790.5+ (47.3714) x Billable Hours (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers) b. Interpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm? Interpret the fixed term, bo, if appropriate. Choose the correct answer below. OA. The value of bo is the predicted overhead costs for 0 billable hours OB. For each increase of 1 unit in billable hours, the predicted overhead costs are estimated to increase by bo C. It is not appropriate to interpret bo. because its value is the predicted…Regression line. A large midwestern retailer has developed a graph that summarizes the effect of advertising expenditures on sales volume. Using the graph, determine an equation of the form y = a + bx that describes this relationship.
- The demand for Krispee Crunchies, a favorite breakfast cereal of people born in the 1940s, is experiencing a decline. The company wants to monitor demand for this product closely as it nears the end of its life cycle. The following table shows the actual sales history for January–October. Generateforecasts for November–December, using the trend projection with regression method. Looking at the accuracy of its forecasts over the history file, as well as the other statistics provided, how confident are you in these forecasts for November–December?The demand for Krispee Crunchies, a favorite breakfast cereal of people born in the 1940s, is experiencing a decline. The company wants to monitor demand for this product closely as it nears the end of its life cycle. The following table shows the actual sales history for January–October. Generate forecasts for November–December, using the trend projection with regression method. Looking at the accuracy of its forecasts over the history file, as well as the other statistics provided, how confident are you in these forecasts for November–December? Month Sales Month Sales January Februray March April May June 890,000 800,000 825,000 840,000 730,000 780,000 July August September October November December 710,000 730,000 680,000 670,000What type of analytics seeks to recognize what is going on as well as the likely forecast and make decisions to achieve the best performance possible? domain predictive prescriptive descriptive What does the robustness of a data mining method refer to? its ability to construct a prediction model efficiently given a large amount of data its speed of computation and computational costs in using the mode its ability to overcome noisy data to make somewhat accurate predictions its ability to predict the outcome of a previously unknown data set accurately