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 detect the presence of assignable causes, If the time order of prod...

If the time order of production has not been recorded in a set of data from a process is it possible to detect the presence of assignable causes?

Define how each it project supports bill''s umuc pizza, Explain how each IT...

Explain how each IT project listed above specifically improves and/or supports Bill's UMUC Pizza business

Define challenges of managers providing accurate feedback, Assess the chall...

Assess the challenges of managers providing accurate, timely, and effective feedback to employees. Recommend how managers can overcome any two of the challenges you identified.

Explain what is risk, What is risk? How does risk differ from uncertainty? ...

What is risk? How does risk differ from uncertainty? How does it impact a business?

Explain service sector management economics, SSME is an acronym standing fo...

SSME is an acronym standing for "Service Sector Management Economics."

Desicion making chapter 1, analyze the decision tree in figure A.8 what is ...

analyze the decision tree in figure A.8 what is the expected payoff for the best alternative? first be sure to infer the missing probabilities

Explain organizational structure in terms of creating a work, How would you...

How would you go about analyzing an organizational structure in terms of creating a work breakdown structure? What are the major organizational characteristics that you would evalu

Explain what are the pros and cons of bureaucratic controls, What are the p...

What are the pros and cons of bureaucratic controls such as rules, procedures, and supervision? Should all organizations use bureaucratic controls? Why or Why Not?

Explain manager able to overcome your resistance, Managers, think back to a...

Managers, think back to a time when a manager announced a change that you, the employee, did not want to adopt. What was the reason(s) for your resistance to change? Was the manage

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