Explain advertising budget, Operation Management

Assignment Help:

The production manager at company XYZ needs to prepare forecasts of product demand in order to plan for appropriate production quantities. In the past, demand for the product has been strongly dependent on the effort put in advertising and promoting the product. To show this, the marketing manager has compiled the data below on sales (in thousands of units) and advertising budget (in thousands of $) over the past 5 months. The marketing budget allocated to this product in the next month is $3,500. Use linear regression to develop an equation for the relationship between unit sales and advertising $, and generate a forecast for this product. Months sales advertising (thousands of units) (thousands of $) 1 264 50 2 116 26 3 165 28 4 101 20 5 209 40 6? 35


Related Discussions:- Explain advertising budget

Explain what monthly penalty is the company incurring, A food processor use...

A food processor uses approximately 29,730 glass jars a month for its fruit juice product. Because of storage limitations, a lot size of 4,000 jars has been used. Monthly holding c

Countries that are leading the export import of merchandise, The wtos intl ...

The wtos intl trade statistics is an annual report that provides comprehensive comparable updated statistics on trade in merchandise and commercial services. This report allows for

Define what do you think will happen to hrm in the future, What do you thin...

What do you think will happen to HRM in the future? What do you think of this prediction for HRM? Is it likely to come true? If so, why? If not, why not? Cited/References

Explain technology intensive should you make it, When you're creating a onl...

When you're creating a online site, how busy, technology intensive should you make it

Explain what additional facts could cause the decision, Ema graduated from ...

Ema graduated from a very prestigious college and was in her second year of medical school. Ema's parents did not have the resources to help her pay for college. For the past six y

Explain purchasing and supply management, Briefly discuss each of the seven...

Briefly discuss each of the seven periods in the evolution of purchasing and supply management. What do you forecast for the future?

Explain inadequate parking, The Manchester United Soccer Tournament project...

The Manchester United Soccer Tournament project team (refer to the Manchester United Soccer club case study in chapter 4 of the text) has identified the following potential risks t

Explain scheduled preventive maintenance, Christopher's Cranks uses a machi...

Christopher's Cranks uses a machine that is designed to produce 100 cranks per hour. The firm operates eight hours per day, five days per week. Due to operating constraints (regu

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd