Reference no: EM131422806
Assignment
Scenario: You are a consultant who works for the Excellent Consulting Group. Your client, the ABC Furniture Company, believes that there may be a relationship between the number of customers who visit the store during any given month ("customer traffic") and the total sales for that same month. In other words, the greater the customer traffic, the greater the sales for that month. To test this theory, the client has collected customer traffic data over the past 12-month period, and monthly sales for that same 12-month period (Year 1).
1. Using the customer traffic data and matching sales for each month of Year 1, create a Linear Regression (LR) equation in Excel. Use the Excel template provided (see "Module Case - LR -Year 1" spreadsheet tab), and be sure to include your LR chart (with a trend line) where noted. Also, be sure that you include the LR formula within your chart.
2. After you have developed the LR equation above, you will use the LR equation to forecast sales for Year 2 (see the second Excel spreadsheet tab labeled "Year 2 Forecast"). You will note that the customer has collected customer traffic data for Year 2. Your role is to complete the sales forecast using the LR equation from Step 1 above.
3. After you have forecast Year 2 sales, your Professor will provide you with 12 months of actual sales data for Year 2. You will compare the sales forecast with the actual sales for Year 2, noting the monthly and average (total) variances from forecast to actual sales.
4. To complete the Module Case, write a report for the client that describes the process you used above, and that analyzes the results for Year 2. (What is the difference between forecast vs. actual sales for Year 2-by month and for the year as a whole?) Make a recommendation concerning how the LR equation might be used by ABC Furniture Company to forecast future sales.
Data: Download the template here: Data chart. Use this template to complete your Excel analysis.
Excel Analysis
• Accurate and complete Linear Regression analysis in Excel.
Written Report
• Length requirements: 4-5 pages minimum (not including Cover and Reference pages). NOTE: You must submit 4-5 pages of written discussion and analysis. This means that you should avoid use of tables and charts as "space fillers."
• Provide a brief introduction to/background of the problem.
• Your written (Word) analysis should discuss the logic and rationale used to develop the LR equation and chart.
• Provide complete, meaningful, and accurate recommendation(s) concerning how the ABC Furniture Company might use the LR equation to forecast future sales. (For example, how reliable is the LR equation in predicting future sales?) What other recommendations do you have for the client?
Find the probabilities
: Find the probabilities.- Suppose X has the B(5, 0.4) distribution. Use software, calculator, or Table C to find P(X = 0) and P(X ≥ 3).
|
What can you offer a mentoree
: ead the Mentoring Unit in its entirety first. In your discussion this week, please answer the three questions below as they relate to this week's Module.Keep in mind that the person you are mentoring is called a "mentoree" (not "mentee") - remembe..
|
How can we use science to solve some of the problems
: Science and technology are a major part of lives. How can we use science to solve some of the problems mankind faces? Explain what problems you think "science" can address. After watching the video, ( https://www.youtube.com/watch?v=0zsWdW7eJ1M&a..
|
How unusual is given outcome
: In a recent game, she had 10 free throws and missed 6 of them. How unusual is this outcome? Using software, calculator, or Table C, compute P(X ≤ 4), where X is the number of free throws made in 10 shots.
|
Create a linear regression equation in excel
: Using the customer traffic data and matching sales for each month of Year 1, create a Linear Regression (LR) equation in Excel. Use the Excel template provided.
|
Would alter the activity of an enzyme
: List three conditions that would alter the activity of an enzyme. Be specific with your explanation.
|
Describe theory and research findings
: Describe theory and research findings that support well-being in late adulthood. Describe evidence-based support that provides guidance for professionals to understand and foster coping and resilience as adults go through midlife and approach late..
|
What is the distribution of the number who have type o blood
: Suppose that each child of a particular pair of parents has probability 0.25 of having type O blood. If these parents have 4 children, what is the distribution of the number who have type O blood? Explain your answer.
|
Describe fluid and crystallized intelligence
: Describe fluid and crystallized intelligence, with respect to the cognitive functioning of adults as they age. Describe how professionals can use this information to support positive adjustment for aging adults.
|