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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
Introduction of Operations Strategy The term strategy, given in the Collins English Dictionary is, 'the art or science of the planning and conduct of a war; generalship; a lon
Why is forecasting important in organizations, especially as related to understanding the relevant time horizon to develop a forecast against? What are some examples from industry?
1.technology strategy 2.capacity strategy 3.facility location strategy 4.process strategy 5.quality strategy
A quality analyst wants to construct a sample mean chart for controlling a packaging process. He knows from past experience that the process standard deviation is two ounces. Each
Discuss the fit for GBI of this particular for-profit avenue Eileen o'brien has chosen?
Nuvyug Industries Ltd. Has an annual requirement of 5,000 pieces of brake cylinders for its popular brand of golf carts. Each brake cylinder has a carrying cost of ` 25 per unit pe
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Explain whether each of the following is sufficiently supported by consideration to be a contract. Provide examples, laws, or other relevant information to support your answer. Mag
Do some research to identify four to six common communication problems that occur in organizations? The text discusses several organizational communication problems. Provide exampl
You are the Vice-President of Manufacturing for a company which manufactures small personal appliances. Your R & D department has designed a revolutionary, new type of electric t
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