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 what is job evaluation, 1) What is job evaluation? What method(s) o...

1) What is job evaluation? What method(s) of job position evaluation does employer use? Explain why. (Remember, "Job Evaluation" is not the same as "Performance Evaluation.") 2) Wh

Explain what is the amortization schedule, 30 year mortgage at 10 percent i...

30 year mortgage at 10 percent interest rate. Loan amount $300000. 1. What is the amortization schedule for the 1st year (12moonths) 2. What is the remaining balance of the 29years

Evidenced predictive capabilities of a leader, Question 1: Traits theor...

Question 1: Traits theories are not sufficient for explaining Leadership! i. Give an account of the other complementary Contingency theories or parts of the theories that d

SEQUENCING PROBLEM, HOW TO SOLVE SEQUENCING PROBLEM FOR N-JOB AND M-MACHINE...

HOW TO SOLVE SEQUENCING PROBLEM FOR N-JOB AND M-MACHINES

Line balancing, What do you understand by “line balancing”? What happens if...

What do you understand by “line balancing”? What happens if balance doesn’t exist?

Productivity, Productivity A measure of a firm's effectiveness, product...

Productivity A measure of a firm's effectiveness, productivity is measured by dividing the organization output by the number of hours people worked to procedure the output. Pro

E - business or e-commerce, E - Business or E-Commerce E-commerce (usu...

E - Business or E-Commerce E-commerce (usually referred to by the more encompassing term 'e-business') is few suppliers? defined by IBM's Lou Gestner as being about: Verticall

Industrial society - operations function, Industrial Society - Operations F...

Industrial Society - Operations Function In the industrial society, estimated during the period of growth of industrialisation roughly 1820-1920, machines and the production 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