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 performance appraisals are they necessary, 1.What purpose do they s...

1.What purpose do they serve under a performance management system? 2.Performance appraisals are they necessary or not? 3.What to do if an performance appraisal is unsatisfac

List out reasons for the decision of the Production Manager, List out reaso...

List out reasons for the decision of the Production Manager backed up by the necessary data

Process capability - statistical process control, Process Capability - Stat...

Process Capability - Statistical Process Control The controls charts described so far are concerned with maintaining the stability of a process, but they offer no comment on

Explain team prior to raising a follow-on fund, How should foster position ...

How should foster position herself and her team prior to raising a follow-on fund?

Explain how important is the compensation system, How the compensation syst...

How the compensation system influences employees motivation, productivity and satisfaction. How important is the compensation system in an employee's productivity? Are there other

Linear programming, classification of linear programming on the basis of st...

classification of linear programming on the basis of structure

Explain conscience in spite of the consequences, Suggest some reasons why a...

Suggest some reasons why a person may go against his /her conscience in spite of the consequences. Provide examples with your response.

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