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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
The probability of Event 1 is P and the probability of Event 2 is (1-p),for what values of P would you choose A?B?C? Values in the table are payoffs. Choice /Event Event 1 Event2
Motivation and rewards: coaching for performance changes. References
Which of the following in not an advantage of skimming pricing? A. It allows a manufacturer to quickly recover its research and development costs. B. It permits marketers to contro
A cleaning company uses $10 of chemicals, $40 of labour, and $5 of misc. expenses for each house it cleans. After some quality complaints, the company had decided to increase its u
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment
Disadvantages of Process Layout 1. Complexity of production Planning and Control: The absence of sequential mechanized channels for production make routing and scheduling more
How does today's business world compare with the one of 40 ago? What is different about today and what is not so different? Electronincs assembly Inc. operates two 8 hour shifts
1. As management theory has evolved, contemporary theorists emphasize two approaches: the "systems approach," and the "contingency approach." Explain each. 2. Regarding ethics a
If you are interested in estimating the difference between the means of two samples that have been paired, the point estimate for this difference is the mean value of the paired di
implantation of operation strategy
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