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 organization predict the short and long- term future, How do organi...

How do organization predict the short and long- term future? Explain in detail how a downturn in the economy affects not-for- profit organizations, as opposed to for-profit ones.

Explain a process capacity methodology, A process capacity methodology that...

A process capacity methodology that is used to show how well parts being produced fit into a range specified by design limits is which of the following? Answers- a. Answer n

Describe customer-contact matrix perspective, Describe a company of your ch...

Describe a company of your choice from the customer-contact matrix perspective. Discuss the operations of the organization from your perspective using the three elements of the cus

Explain what both the plaintiff and defendant must do, What are the procedu...

What are the procedural steps necessary to sue a person or company for business law dispute? Discuss and illustrate what both the plaintiff and defendant must do.

Explain federal mediation and conciliation service, Based on the most curre...

Based on the most currently reported data by the American Arbitration Association and the Federal Mediation and Conciliation Service, you should factor all but one of the following

Depict conclusions regarding both the long term, Complete a SWOT analysis f...

Complete a SWOT analysis for McDonald's to include SO, WO, ST, and WT Strategies, then develop a SPACE matrix for McDonald's. Using these matrices, draw conclusions regarding both

Types of process technologies - batch production, Types of Process Technolo...

Types of Process Technologies - Batch Production Under this system the manufacturing is done in batches or groups or lots either on the basis of customer order or with a hope

Explain the internal and external environments, Describe the internal and e...

Describe the internal and external environments of 2 real world companies using an environmental scan. What competitive advantages does each company have and what strategies are ea

Explain which an organization can be engaged be engaged, The categories of ...

The categories of global participation in which an organization can be engaged be engaged

Explain about the organization and its resources, 1. How to characterize yo...

1. How to characterize your supervisor's approach to management? For example, which particular management tasks and roles does this person perform most often? What kinds of managem

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