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Q. Illustrate what is the logic in the least squares method of linear regression analysis?
Linear regression refers to the special class of regression where the relationship between variables forms a straight line (Jacobs, p. 483). The equation for linear regression is Y= a +bX also it is used for long term forecasting of major occurrences also aggregate planning. Therefore the least squares method tries to fit the line to the data that will minimize the sum of the squares of the vertical distance between each point also where it corresponds on the line (Jacobs, p. 484). Overall the logic of least squares method is used to forecast the next quarterly sales of the organization
Stan estimates which it will cost $15,000 to set up the process also then $1.82 per unit for labour also materials. Either choice would have the same cost at approximately describe how many units.
nternal customers in organizations, Distribution resource planning (DRP), Electronic data interchange (EDI), Stocktaking, inventory policy, Shelf life of products, Limited storage space
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The standard deviation of lead time is 1.5 days. Assume 260 days in the year and an average lead-time of 6 days. Illustrate what is the EOQ.
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This solution describes the concepts of shadow price and maximization problem, differences between graphical and computer-based methods of solving LP problems differ, and sensitivity analysis in decision making process.
As the marketing manager for the manufacturer of a new line of computer jump drives, Elucidate what strategy would you use to get your channel members to promote your product.
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Determine monthly volume necessary at each location to realize a monthly profit of $10,000. owner of Genuine Subs, Inc. hopes to expand present operation by adding one new outlet.
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