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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
What are the disadvantages of lean production? Disadvantages of lean production are as illustrated below: • Incessant cost of investment within retraining displaced or reass
What is the difference between direct effects and indirect effects of Goals on choice of strategy?
1. Look at the above table and list the interesting gaps which you observe in the 'scripts' between consumer and service provider. Answer: 1. The starting point of the servic
what are the changing roles of computers in operations management
Is the 'focused factory' concept described by Skinner applicable in the service sector? Answer: Yes, think of Schmenner's service-process matrix and the lower quadrant entitled
Operations Management refers to those activities which are more or less directly concerned with the creation and delivery of goods and services. The course is intended to give you
MKD Transportation owns and operates a fleet of container ships and tankers that transport goods around the globe. Company executives have just been contacted by the media with a c
Which of the following statement is correct/1. Deep acting and surface acting are two terms reflecting ways of behaviour when a person ethic is somewhat questionable/2. Deep acting
What are the advantages of process mapping? Advantages of process mapping are as follows: a. It can be used for structured ‘walk by testing to confirm knowing of workflow, c
Vogel Approximation Methods ( VAM): Step 1: For each row the transportation table identify the smallest and next to smallest cost. Determine the different between the
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