Our Services

Get 15% Discount on your First Order

PLEASE READ INSTRUCTIONS PROPERLY Forecasting Case AnalysisMGT 3332IMPORTANT:

April 3, 2024

PLEASE READ INSTRUCTIONS PROPERLY

Forecasting Case Analysis

MGT 3332

IMPORTANT:

·
All team members must do all parts of the project and compare results. DO NOT divide up parts of the project as many parts are related.

·
Teams must submit both Word and Excel files of their work to Canvas.

·
Do not submit any file until all team members agree on the deliverables.

·
Only one team member will submit the files. There is no second chance on submittal.

·
Post names of all contributing team members on top of Word file.

The Fresh Detergent Case

Enterprise Industries produces Fresh, a brand of liquid detergent. In order to more effectively manage its inventory, the company would like to better predict demand for Fresh. To develop a prediction model, the company has gathered data concerning demand for Fresh over the last 33 sales periods. Each sales period is defined as one month. The variables are as follows:

·
Period = Time period in month

·
Demand = Y = demand for a large size bottle of Fresh (in 100,000)

·
Price = the price of Fresh as offered by Ent. Industries

·
AIP = the Average Industry Price

·
ADV = Enterprise Industries Advertising Expenditure (in $100,000) to Promote Fresh in the sales period.

·
DIFF = AIP – Price = the “price difference” in the sales period

1. Download the data file from Canvas site. Save the original download (just in case), and copy it into Excel spreadsheet.

IMPORTANT: Your downloaded data file should match both your section number and your team number. This is shown in both the file name and in the title line of the file. If you download and use the wrong data file for your team, you will fail the assignment!

2. Make time series scatter plots of all five variables (five graphs). Insert trend line, equation, and R-squared. Observe graphs and provide interpretation.

IMPORTANT:

· These and all other charts must be made in Excel. You can copy & paste them as images into your Word if you wish; otherwise, just refer in the word document to the Chart location in your Excel worksheet.

· These and all other charts should be of quality sufficient for presentation to senior management at Enterprise Industries. All charts should have titles, legends, and both axes labeled.

3. Construct scatter plots of Demand vs. DIFF and Demand vs. ADV, Demand vs. AIP, and Demand vs. Price. Insert fitted line, equation, and R-squared. Observe graphs and provide interpretation. Note that Demand is always on the Y axis.

4. Obtain the correlation matrix for all six variables and rank the variables that have strong correlation with Demand (must use absolute value.) Explain your findings in plain language.

5. Use 3-month and 6-month moving averages to predict the demand for October 2023. Find MAD for both forecasts and identify the preferred one based on each calculation. Is the moving average suitable method for forecasting for this data set? Explain your reasoning.

6. Use Exponential smoothing forecasts with alpha of 0.1, 0.2, …, 0.9 to predict October 2023 demand. Identify the value of alpha that results in the lowest MAD.

7. Find the monthly seasonal indices for the demand values using Simple Average (SA) method. Find the de-seasonalized demand values by dividing monthly demand by respective seasonal indices.

8. Use regression to perform trend analysis on the de-seasonalized demand values. Is trend analysis suitable for this data? Find MAD and explain the Excel Regression output (trend equation, r, r-squared, goodness of model).

9. Find the seasonally adjusted trend forecasts for October through December 2023.

10. Perform simple linear regression analysis with ADV as the independent variable to predict demand. Write the complete equation, find MAD and explain the Excel Regression output.
Make sure to use the de-seasonalized demand data for this model and all future models.

11. Repeat part (10) with DIFF as the independent variable.

12. Construct multiple linear regression model with Period, AIP, DIFF, and ADV as independent variables. Formulate the equation, find MAD, and explain the output. Rank variables based on their degree of contribution to the model. Observe significant F, R-squared, and p-values and explain.

13. Perform multiple linear regression analysis with Period, DIFF, and ADV as independent variables. Formulate the equation and find MAD. Which variable is the most significant predictor of demand? Rank the independent variables based on their degree of contribution to the model. Observe significant F, R-squared, and p-values and explain.

14. Use the model obtained in parts 13 and make forecasts for the following months. Make sure to seasonalize final forecasts.

Period Price AIP ADV

Oct. 2023 $7.44 $7.78 $11.03

Nov. 2023 $7.58 $7.83 $11.63

Dec. 2023 $7.93 $8.08 $11.83

15. Provide a case conclusion based on above analysis.

Grading Criteria

· Completeness/Correctness 70%

· Quality of Interpretations/Analysis 20%

· General Quality of Report/graphs/writing 10%

>Business & Finance homework help

Share This Post

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Health care organizations such as Choice Hospital must keep up

Health care organizations such as Choice Hospital must keep up to date with new initiatives related to reimbursement by third-party payers for services provided. This is especially true for Medicare reimbursement and initiatives tied to legislation such as the Affordable Care Act and the 21st Century Cures Act. You

Read article and answer questions

There is an article attached, read article and answer questions at the end under “Disscussion Questions/Case Study/Class Assignment” These are the questions below… Paper must be at least 5 pages minimum. Conduct a multi-step analysis from the scenario provided to develop a marketing plan. The plan should focus on

https:www.youtube.comwatchvenSGjIlZofeatureyoutu.be 1. Watch the lecture in its entirety. 2. Determine what the main argument is. In other words

https://www.youtube.com/watch?v=-enSGjI-lZo&feature=youtu.be1. Watch the lecture in its entirety. 2. Determine what the main argument is. In other words, all academic lectures have a key point (unless you have a terrible professor and they ramble on without a clear direction or purpose) that is being supported by evidence, which is what we

Scenario You are a certified public accountant (CPA) who is

Scenario You are a certified public accountant (CPA) who is working with a small bakery to prepare their financial statements for three months of the current fiscal year. Because the company is a startup and so small, the accounting is done manually in Microsoft Excel. You have been given

Assignment: Short questions: 1.- If you are an exporter who

Assignment: Short questions: 1.- If you are an exporter who must make payments in foreign currency three months after receiving each shipment and you predict that the domestic currency will appreciate over this period, is there any value in hedging your currency exposure? 2.- The same computer costs $400 in

Discussion 2: Attention Have you ever traveled a familiar route

Discussion 2: Attention Have you ever traveled a familiar route while so lost in thought that you barely experienced the details of the trip itself? Compare this to an experience in which you had to pay attention to a specific set of directions to get to a location you had

Evidence based practices to reduce vaping use in people. Note: main focus of the paper is unethical communication of vaping..

Evidence based practices to reduce vaping use in people.Note: main focus of the paper is unethical communication of vaping.. So evidence based practice part should include how the information should be provided to the people. Examples for how certain way of providing information to people has better impact.

you have been introduced to various security tools (Network Discovery,

you have been introduced to various security tools (Network Discovery, Network Scanning, DLP, Firewalls, and HIDS). You are to take one of the five identified categories of tools and identify two specific products from different vendors. Based on two products, please research the differences and similarities between the two products.

I need these assignments in 150 words each. Each with its own separate references UNIT 1 Discuss the following:

I need these assignments in 150 words each. Each with its own separate references UNIT 1Discuss the following:Based on your readings, research, and personal knowledge, what do you see as potential barriers to effective strategic planning in the health care environment?How does this differ from the general business world?UNIT 2Discuss

Design plays a major role in how investors and other

Design plays a major role in how investors and other audiences respond to your pitch deck, but for one startup, achieving near perfection in their slide design did not create a pathway to success. Wattage Inc. was pitched as a modular electronics company that would allow users to design

Weeks 1–5: Submit your Excel spreadsheet. Your spreadsheet should show

Weeks 1–5: Submit your Excel spreadsheet. Your spreadsheet should show the results of the transactions you performed this week and the data you collected. Remember that you need to make at least one transaction per week. Do not erase any record of the cryptocurrency you sold. Just add a new

Create a research paper based on the attached project details.

Create a research paper based on the attached project details. A paper template is provided to assisn in writing the paper. This is a required assignment, worth 45 points and must be submitted by the due date. Late assignments will not be accepted. Details on the Project: Project3 Planning Specifications.pdf

How diffusion of responsibility is exhibited in a real-world setting.

Instructions Chapter 10 discusses diffusion of responsibility—a belief that others will help someone in need, leading to a lessened sense of individual responsibility and a lower probability of helping. In this assignment, you will explore how diffusion of responsibility is exhibited in a real-world setting. To conduct this demonstration, when

Upon the Burning of Our House

Identify and interpret the thesis of Anne Bradstreet’s “Upon the Burning of Our House.” -Is the poem a metaphor for anything? -Are there any additional metaphors in her work? -Can these metaphors be compared to real life and current events? If so, what ones? ***The critical essay has to Include

When most people think about identifying a crisis or disaster the first ones that come to mind are usually natural

When most people think about identifying a crisis or disaster, the first ones that come to mind are usually natural disasters like tsunamis, earthquakes, or draughts. Others may first think of wars, terrorism, or genocide. As counselor educators, you should be aware of all types of crisis that may occur,

Global Societal Problem Argument and Solution WLOs: 1 2 3 4 5 CLOs: 1 2 3 4 5 Prepare: Prior

Global Societal Problem, Argument and Solution[WLOs: 1, 2, 3, 4, 5] [CLOs: 1, 2, 3, 4, 5]Prepare: Prior to beginning work on this assignment, please review this Sample Final Paper GEN499 for additional guidance on the expectations of this assignment.The topic of your essay needs to be a global societal

Write a 1000 word paper that considers the implication of

Write a 1000 word paper that considers the implication of the Virtuous Business Model to the knowledge creation process by addressing the following questions: Is everything that can be research worthwhile to do so? How do values such as those expressed by the Virtuous Business Model impact the knowledge creation

a review paper based on 10 research articles about Myosin II

writing a review paper based on 10 research articles and 10 reviews articles about Myosin II: it is history, structure, functions, classifications, enzymatic properties and it is regulation. in general, an overview of the topic indicating why it is important, a critical analysis of the primary literature that includes a

Our Services

PLEASE READ INSTRUCTIONS PROPERLY Forecasting Case AnalysisMGT 3332IMPORTANT:

Share This Post

Related Questions

Use Our 6 Free Tools