Predictive Sales Report, Basic Statistics

Assignment Help:
A retail store has recently hired you as a consultant to advise on economic conditions. One important indicator that the retail store is concerned about is the unemployment rate. The retail store has found that an increase in the unemployment rate will cause a lack of consumer spending in their stores. Retail stores use the unemployment rate to estimate how much inventory to keep at their stores, which is important in maintaining cost effectiveness. In this consultant role you will apply calculations and research to create a predictive sales report.

You will complete this project in two parts, but will submit your work as one Word document. Copy and paste your calculations from your Excel workbook into the Word document.

TIP: For help copying and pasting information from Excel to Word go to https://office.microsoft.com/en-us/word-help/copy-excel-data-or-charts-to-word-HP010198874.aspx or watch the “Excel Tips - Tip#48: Copy from Excel to Word” found in Week One Recommended Resources.

The Final Project must be eight to ten pages in length, excluding title page and reference page(s) and must include at least three scholarly sources, in addition to the Job and Labor Statistics site. Be sure to format your work in accordance with APA guidelines as outlined in the Ashford Writing Center.

Part I

Reference the data in this Excel Workbook to complete the following quantitative components of the predictive sales report. You will complete the calculations below in your own Excel workbook and then copy and paste from your Excel workbook into the Word document.

Calculate the mean yearly value using the average unemployment rate by month found in the “Final Project Data Set.”
Using the years as your x-axis and the annual mean as your y-axis, create a scatter plot and a linear regression line.
Answer the following questions using your scatter plot and linear regression line:
Compute the slope of the linear regression line.
Identify the Y-intercept of the linear regression line.
Identify the equation of the linear regression line in slope-intercept form.
Calculate the unemployment rate in 2016, based on the linear regression line.
Calculate the residuals of each year.
Find the latest unemployment rate in your state. You will need to go to the Bureau of Labor Statistics Website (www.bls.gov)and hover over “Subject Areas” in the top menu panel then select “State and Local Unemployment Rates” from the drop down menu under “Unemployment Rate”. Determine whether the rate in your state is within the range of the linear regression line or if it is an outlier.
Interpret your results of the model and explain how a company could use the results to drive decision making.
PART II

Next interpret the analysis from Part I to complete the following qualitative components of the predictive sales report:

Introduce the project and its significance to the retail store.
Reference the statistical analysis that you completed in Part I and explain where the data came from, what type of analysis was done, what the findings were, and whether or not you believe the data to be accurate.
Explain your data-driven conclusions regarding the effects of the changing unemployment rate on the retail store.
Predict what could occur in the future that would change your linear regression line and therefore your prediction of sales.
Writing the Final Paper
The Final Paper:
Part I must be calculated in an Excel spreadsheet and then copied and pasted into your single Word document. You must show all work and clearly label all calculations. Excel documents will not be graded.
Part II must be double-spaced and formatted according with APA guidelines as outlined in the Ashford Writing Center. Part II should be included in the same Word document as your calculations.
Your Final Project in its entirety should be eight to ten pages in length excluding title page and reference page(s) and including all calculations.
Must include a cover page that includes:
- Title of paper
- Student’s name
- Course name and number
- Instructor’s name
- Date submitted
Must include an introductory paragraph with a succinct thesis statement.
Must address the topic of the paper with critical thought.
Must conclude with a restatement of the thesis and a conclusion paragraph.
Must use at least three scholarly resources, in addition to the Job and Labor Statistics site, from the Ashford Library or other scholarly sources. Resources must be properly cited in APA guidelines as outlined in the Ashford Writing Center.
Must use APA style as outlined in the approved APA style guide to document all sources.
Must include, on the final page, a Reference Page that is completed according to APA style as outlined in the approved APA style guide.
You must submit your work in one Word document that includes Part I and Part II.



estion..

Related Discussions:- Predictive Sales Report

Parametric and non-parametric stats tests, What is the difference between p...

What is the difference between parametric and non-parametric stats tests? Different kinds or levels of data need to be analysed using different kinds of stats tests. The basic dist

Find the mean and standard deviation, A travel agency surveyed 38 customers...

A travel agency surveyed 38 customers holidaying in Australia who took their spouses on either a skiing or a golfing vacation.  The data comprises amounts (in hundreds of dollars).

Level of significance, Twenty years ago, entering male high school students...

Twenty years ago, entering male high school students of Central High could do an average of 24 pushups in 60 seconds. To see whether this remains true today, a random sample of 36

Classification of raw data with example tables, Classification of raw data ...

Classification of raw data on the basis of homogeneous characteristics

6 accounting questions , I have 6 questions for my Accounting class that I ...

I have 6 questions for my Accounting class that I need help with. I only have two hours to complete them. I am trying to get an idea of what I can expect to pay for help with the a

Rebate, Refund can be defined as return of a part of a purchase price by a ...

Refund can be defined as return of a part of a purchase price by a seller to a buyer, usually on a purchase of a specified quantity or a value of goods within a specified period.

Statistics, Mention the characteristics of Statistics. Explain any two appl...

Mention the characteristics of Statistics. Explain any two applications of Statistics.

Metaphor, writing a Introduction on Metaphor

writing a Introduction on Metaphor

Simulation for structural equation modeling, I want to simulate observed va...

I want to simulate observed variables for structural equation modeling. In real data it is assumed that observed variables are not error free variables, so should i also simulate e

Normal distribution, In a mathematics examination the average grade was 82 ...

In a mathematics examination the average grade was 82 and the standard deviation was 5. all students with grade from 88 to 94 received grade of B. if the grade are approximately no

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