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 affirmative action plan requiring it to hire a woman, 1 In Johnson ...

1 In Johnson v. Transportation Agency, Santa Clara County, a female employee was promoted to the position of road dispatcher, despite the fact that a male candidate had scored two

Operation strategy in organisations, Operation Strategy in Organisations ...

Operation Strategy in Organisations 1. There are three schools of thought in strategic thinking: rationalist, evolutionist and some combination of both.  2. There are multi

Qualitative and quantitative justification, 1.  Maggie Company produces a l...

1.  Maggie Company produces a light fixture with the following unit costs:   Direct Materials: $2 Direct Labour: $2 Variable Cost: $3 Fixed Cost: $2 UNIT TOTAL COST: $9   The

Number of rules for string diagram, There are a number of rules developed a...

There are a number of rules developed and given under three broad headings: 1. Related to the use the Human Body : a. The two hands should beings as well as complete their

Time study - process design, Time Study - Process Design Time study by...

Time Study - Process Design Time study by stopwatch or micro-motion analysis is the original method of work measurement devised by Taylor and his followers, and is still routi

Explain the probable destiny of lee peterson''s company, Consider this: Lee...

Consider this: Lee Peterson has invented a new product that detects water leaks due to broken pipes and sends out an alarm similar to a smoke alarm. However, Lee has very little pe

Explain what variables should be eliminated, What do you think is the purpo...

What do you think is the purpose of the U.S. Census, which takes place every 10 years? What are some of the variables recorded for the U.S. population? How are these variables usef

Small organizations or large organizations differ in design, How do small o...

How do small organizations and large organizations differ in design?

Explain what steps can the uaw take, The United Auto Workers union enters i...

The United Auto Workers union enters into contract negotiations with the Ford Motor Company in Michigan. What are the three main subject areas the UAW can negotiate with Ford? Prov

Explain why organizational restructuring is needed, Matrix structures allow...

Matrix structures allow for workers to be shared on multiple projects and at a lower than usual cost. Answer To be shared on multiple projects and at a lower than usual cost

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