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1. Briefly describe when qualitative versus quantitative forecasting methods would be used?2. Linear Regression.a. Describe what linear regression is and how it can be used.b. Explain each variable in the equation: y = a + bxc. Coefficient of Correlation, r.- What does r measure?- What values can r have and what do they mean?d. Coefficient of Determination, r2.- What does r measure?- What values can r2 have and what do they mean?3. Problem 4.35 on page 143 paraphrased: A real estate developer created a linear regression model to determine home prices. The price of the home (Y) is determined by the size (square footage = X). The model is: Y = 13,473 + 37.65X.The coefficient of correlation is 0.63.a. Use the model to predict the selling price of the house that is 1,860 square feet.b. An 1,860 square foot house recently sold for $95,000. Explain why this is not what the model predicted.c. If you were going to use multiple-regression to develop such a model, what other quantitative variables might you include?d. What is the value of the coefficient of determination in this problem? What does this mean?
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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