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 supply process improvements, Supply Process Improvements examine...

Supply Process Improvements examine the steps of the supply process in Chapter 4 of the text and identify a project where improvements could be made in one or more of the steps.

Explain what causes conflict in organizations, What causes conflict in orga...

What causes conflict in organizations? Many of the organizational behaviour topics that have been addressed in the class thus far include the opportunity for conflict to emerge. Fo

Explain principles of relating to customers and co-workers, It is your firs...

It is your first day at ABC Computer Repair and a very angry customer walks into the shop. They instantly start yelling at you and telling you that one of the techs did not do a go

Explain production system that consists of a single station, Consider a pro...

Consider a production system that consists of a single station with a production rate of 1 part per minute and a process variability given by Ce=1.

Explain what do you think sally should do, Case 2 Individual or Team Reward...

Case 2 Individual or Team Reward? Jack Hopson has been making wood furniture for more than ten years. He recently joined Metropolitan Furniture and has some ideas for Sally Boston,

Importance of performance measurement, Importance of performance measuremen...

Importance of performance measurement  1. Research reveals that many institutional investors are basing their decisions, in part, on a review of company's non financial perfor

Explain what is the profit if the bottleneck method advocate, The senior ma...

The senior management at Canine Kernels Company CKC is concerned with the existing capacity limitations so they want to accept the mix of orders that maximizes the company's profit

Explain how much water can be transported per hour, The network in figure b...

The network in figure below shows the pipeline transportation system for treated water from the treatment plant to a city water supply system. The arc capacities represent millions

Explain disadvantages from the healthcare organizations, Determine two adva...

Determine two advantages and two disadvantages from the healthcare organizations perspective for requiring a Certificate4 of Need (CON). Identify 3 states that require a Certificat

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