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 web-based appraisal systems, What do you think are the pros and con...

What do you think are the pros and cons of using a web-based appraisal systems?

Explain wbs is referred to as, Generally speaking, the lowest level in the ...

Generally speaking, the lowest level in the WBS is referred to as: Answer Level 3 Level 4 Level 5 The work package

Explain what is the difference among lead time and lag time, Remember that ...

Remember that once you start linking tasks in the Gantt chart, changes might become more cumbersome. What are some tools or techniques that you can use to save yourself some hea

Explain interested in obtaining a measure of overall perform, Cunningham Pe...

Cunningham Performance Auto, Inc. modifies 375 autos per year. The manager, Peter Cunningham, is interested in obtaining a measure of overall performance. He has asked you to provi

Describe regards to ethical business practices, I have a question in regard...

I have a question in regards to ethical business practices. Businesses are concerned with their profits, most directly sustaining and improving. One business comes to mind, Apple.

Explain identify an ethical framework that applies, Discuss the legal and e...

Discuss the legal and ethical issues surrounding Solyndra, the California based solar panel manufacturer. Incorporate two to three specific laws or ethical codes that apply to the

Explain potential unethical actions, Identify four potential unethical acti...

Identify four potential unethical actions or inactions related to capacity planning, and the ethical principle each violates

Explain the problems associated with performance measurement, Question 1: ...

Question 1: The objective of Government organizations is not for profit. Explain the problems associated with performance measurement in not for profit organisations and ho

Explain an approach to a business diversity program, Describe an approach t...

Describe an approach to a business diversity program that would pragmatic and ethical

Explain level refers to what, in the context of motivation; level refers to...

in the context of motivation; level refers to----------- 1.an individual choice when present with a number alternatives/2.the consequences of an individual behaviour/3.the amount o

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