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 arbitration and judicial resolution of disputes, The difference bet...

The difference between arbitration and judicial resolution of disputes

Explain how long is each production cycle, Your company manufactures turbin...

Your company manufactures turbine blades for engines in production batches for each type. For one type of blade, the A39T, you have an annual demand of 10,000 units. It costs you $

Define the importance of employees, Discuss the importance of employees and...

Discuss the importance of employees and information technology in the delivery of service quality. Use two examples of service firms to help support your discussion

What situation is a code of ethics most and least likely, Under what circum...

Under what circumstances is a code of ethics most and least likely to be effective? Why?

Define strong technical skills or strong communications, What types of peop...

What types of people have more difficulty being team players? What helps promote good team player behaviour? 3. What do you think is more important for a good IT professional: stro

Explain diagnostic equipment and communications, Last year, the manager of ...

Last year, the manager of the service department at East Woods Ford instituted a customer opinion program to find out how to improve service. One week after service on a vehicle wa

In selecting a foreign market the importance of the priority, In selecting ...

In selecting a foreign market, a screening process is used by a firm. In regard to this process, answer the following: a) The importance of the priority order of the steps in t

[email protected], What are all the steps involved in Work St...

What are all the steps involved in Work Study

Explain benefits of using qualitative and quantitative data, Compare and co...

Compare and contrast the benefits of using qualitative and quantitative data collection methods as they apply to organizational development (OD).

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