Discuss reasons why these predictions may not be accurate

Assignment Help Engineering Mathematics
Reference no: EM131182804

Linear Regression Model

You are working with a company selling building material to builders. You predict the quarterly purchases of customers based on their current purchases by using a linear regression model. These predictions, however, are not very accurate. Discuss at least three reasons why these predictions may not be accurate and offer three ways in which you can increase the likelihood of accurately predicting your customers' purchases.

Reference no: EM131182804

Questions Cloud

Evaluate the leadership of a leader in your organization : Examine two (2) of the major HR ethical issues multinational corporations face when operating globally. Recommend two (2) preventative actions that HR departments can take in order to lessen the occurrence of these ethical issues. Provide a ration..
Are honor killings simply domestic violence : 1. Are honor killings simply domestic violence? 2. What similarities do honor killings have with other forms of interpersonal crime? What differences do they exhibit?
The increase in net working capital and capital spending : Ward Corp. is expected to have an EBIT of $2,400,000 next year. Depreciation, the increase in net working capital, and capital spending are expected to be $175,000, $105,000, and $125,000, respectively. What is the price per share of the company's st..
How has globalization impacted you and your community : Question: How has globalization impacted you and your community?
Discuss reasons why these predictions may not be accurate : Discuss at least three reasons why these predictions may not be accurate and offer three ways in which you can increase the likelihood of accurately predicting your customers' purchases.
What is urban sprawl : What is urban sprawl and what is it's effect upon the environment?
In how many different industries is honeywell involved : nce you have explored Honeywell's Portfolio of businesses answer the following questions: In how many different industries is Honeywell involved? Would you describe Honeywell as a related or unrelated diversification company
What is the company target debt-equity ratio : Pardon Me, Inc., recently issued new securities to finance a new TV show. The project cost $13.8 million, and the company paid $705,000 in flotation costs. In addition, the equity issued had a flotation cost of 6.8 percent of the amount raised, where..
Difference between individual-institutional discrimination : What's the difference between individual and institutional discrimination? Be sure to give a specific example of each type of discrimination in your response. You are asked to come up with a plan to improve racial and ethnic relations in your comm..

Reviews

Write a Review

Engineering Mathematics Questions & Answers

  Comparing the means of two or more groups

The steps in testing a research hypothesis. Comparing the means of two or more groups. Calculating the correlation between two variables

  How realistic is alternative power source for your community

How realistic is this alternative power source for your community? How will people in your community respond to energy conversion? Will they support it or be against it? Give reasons.

  Type of probability distribution covered

Find a study in a professional journal that uses a type of probability distribution covered in these chapters. Write a brief report describing this study and how the researcher used this tool to communicate the impact of the information discovered..

  Annual fixed and production costs

The management has decided to undertake a preliminary analysis in order to evaluate the minimum cost for the network configuration under the assumption that the network will be designed from scratch (i.e., as if no plants currently exist) The annu..

  Determine a network of streets to connect the six areas

Determine a network of streets to connect the 6 areas with minimum length, and indicate the total streets (in thousands of feet) needed using the method we have seen in class (without using any optimization software).

  How would you carry out the practical pricing of the option

How will it compare to the price of a American call option exercisable across the period [t1, t2]? How would you carry out the practical pricing of this option?

  Interpretation of the interval

Assuming population variances are equal; construct an appropriate 95% confidence interval for the difference in mean Gestation Age between infants born in Hospital B and Hospital C.

  Different types of coffee to produce the blends

The Mill Mountain Coffee Shop blends coffee on the premises for its customers. It sells three basic blends in 1-pound bags, Special Mountain Dark, and Mill Regular. It uses four different types of coffee to produce the blends - Brazilian, mocha, C..

  Calculate the sample size

1. Calculate the sample size needed given these factors:

  Formulate linear programming problem to minimize total cost

Formulate a linear programming problem to minimize total cost for this transportation problem. Solve the linear programming formulation from part (a) by using either Excel or QM for Windows. Find and interpret the optimal solution and optimal value..

  Confidence interval be narrower or wider

Prepare a 95% confidence interval for the average grocery bill. Would a 99% confidence interval be narrower or wider than the 95% confidence interval?

  Type of grass seed to purchase to minimize cost

The company believes it needs to have at least 1,200 pounds of Home 1 mix, 900 pounds of Home 2 mix, and 2,400 pounds of Commerical 3 seed mix on hand. A pound of tall fescue costs the company $1,70, a pound of mustang fescue costs $2.80, and a po..

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