Develop a forecasting model

Assignment Help Advanced Statistics
Reference no: EM13238753

Paul has just been hired as a management analyst at Digital Cell Phone, Inc. Digital Cell manufactures a broad line of phones for the consumer market. Paul’s boss, the chief operations officer says he has a special assignment for Paul: “We’ve always just made an educated guess about how many phones we need to make each month. Usually we just look at how many we sold last month and plan to produce about the same number. This sometimes works fine. But most months we either have too many phones in inventory or are out of stock. Neither situation is good. Here are our actual orders entered for the past 36 months. There are 144 phones per case. I was hoping that since you graduated recently from Webster University, you might have studied some techniques that would help us plan better. I’d like you to analyze these data and give me an idea of what our business will look like over the next 6 to 12 month. Do you think you can handle this?” “Of course, “ Paul replies, sounding more confident than he really is. “How much time do I have?” “I need your report on Monday evening. Please explain things carefully so that I can understand your recommendation without having to ask you any more questions. Since you are new to the company, you should know that I like to see all the details and complete justification for recommendations from my staff.” With that, Paul was dismissed. Arriving back to him office, he began his analysis. Month Orders received by month Cases 2011 Cases 2012 Cases 2013 January 480 575 608 February 436 527 597 March 482 540 612 April 448 502 603 May 458 508 628 June 489 573 605 July 498 508 627 August 430 498 578 September 444 485 585 October 496 526 581 November 487 552 632 December 525 587 656 Prepare Paul’s report to John.

Describe the steps you would undertake to perform this analysis.

Develop a forecasting model justifying its selection over other techniques, and project the expected number of cases to be ordered in 2014.

Provide a summary of the cell phone industry outlook using Internet resources as part of Paul’s response.

Reference no: EM13238753

Questions Cloud

Limit the power of the united states : Which post-World War II events served to limit the power of the United States?
Implemented as part of his central plan : How did Hitler attain power and how did World War II begin? What were Hitler's racial policies and how were they implemented as part of his central plan?
Greek and roman empire political systems : Compare and contrast the Greek and Roman empire political systems
Goals and the composition of these groups change : How did the goals and the composition of these groups change from the later 1800s to the mid-1900s?
Develop a forecasting model : Develop a forecasting model justifying its selection over other techniques, and project the expected number of cases to be ordered in 2014. Provide a summary of the cell phone industry outlook using Internet resources as part of Paul’s response.
Explain boiling points alcohols with similar molar mass : Why do ldehydes and ketones have lower boiling points than alcohols with similar molar mass?? Why are they higher than alkanes?
Compute the theoretical amount of oxygen : Calculate the theoretical amount of oxygen based on your starting mass of reactant. Then calculate the percent yield when you compare your actual yield to this theoretical yield.
Define what is the ph of the solution created by combining : What is the pH of the solution created by combining 8.00 mL of the 0.10 M base with 8.00 mL of the 0.10 M acid?
Explain what is the ph of the solution created by combining : What is the pH of the solution created by combining 2.00 mL of the 0.10 M base with 8.00 mL of the 0.10 M acid?

Reviews

Write a Review

 

Advanced Statistics Questions & Answers

  Probability and statistics

The tubes produced by a machine are defective. If six tubes are inspected at random , determine the probability that.

  Computing probability for project completion

Using the following project information: Calculate the probability that the project will be completed in 38 weeks.

  Description of long term debtor

For the year ending June 30, 2008, the New Corporation has current assets of $275,000 and total assets of $900,000. It also has current liabilities of $100,000, equity of $200,000, and retained earnings of $300,000.

  Sample risk-nonsampling risk

Below are statements or examples related to audit sampling applications. Indicate, using the correct letter, which concept is most closely associated with the statement or example. Each concept may be related to more than one statement or example.

  Link between relative frequency and the cumulative frequency

What is the purpose of developing a frequency distribution? What is the relationship between the relative frequency and the cumulative frequency?

  Difference between data and information

Explain the difference between data and information. What is the difference between a population and a sample? List the different types of charts available in Excel, and explain characteristics of data sets that make each chart most appropriate to ..

  Computing intrinsic value of a bond

Twin Oaks Health Center has a bond issue outstanding with a coupon rate of 7 percent and four years remaining until maturity. The par value of the bond is $1,000, and the bond pays interest annually.

  Organizational change-management

Can you tell me what role organizational change out of: e-business management, global leadership, managerial economics, and financial methods play in a management career and professional development?

  Logistic regression

Foundations of Logistic Regression

  Plan the analysis

Plan the analysis

  Information regarding maximum revenue

Island Publishing Company publishes two types of magazines on a monthly basis: a restaurant and entertainment guide and a real estate guide.

  Determining constant growth valuation

Boehm Incorporated is expected to pay a $1.70 per share dividend at the end of this year (i.e., D1 = $1.70). The dividend is expected to grow at a constant rate of 4% a year.

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