Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows:GuestsGuestsQuarterQuarter(in thousands)(in thousands)Winter Year 158Summer Year 2125Spring Year 194Fall Year 251Summer Year 1149Winter Year 399Fall Year 177Spring Year 3156Winter Year 265Summer Year 3210Spring Year 282Fall Year 398Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal places):SeasonIndexWinter

Quarter Year 1 Year 2 Year 3 Average Winter 58 65 99 74 (i.e. 58+65+993) Spring 94 82 156…

Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows: Guests Guests Quarter Quarter (in thousands) (in thousands) Winter Year 1 58 Summer Year 2 125 Spring Year 1 Summer Year 1 94 Fall Year 2 51 149 Winter Year 3 99 Fall Year 1 77 Spring Year 3 156 Winter Year 2 65 Summer Year 3 210 Spring Year 2 82 Fall Year 3 98 Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal places): Season Index Winter

Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows: Guests Guests Quarter Quarter (in thousands) (in thousands) Winter Year 1 58 Summer Year 2 125 Spring Year 1 Summer Year 1 94 Fall Year 2 51 149 Winter Year 3 99 Fall Year 1 77 Spring Year 3 156 Winter Year 2 65 Summer Year 3 210 Spring Year 2 82 Fall Year 3 98 Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal places): Season Index Winter

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section: Chapter Questions

Problem 40P: The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels....

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The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?
The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?
Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows: Quarter Guests (in thousands) Quarter Guests (in thousands) Winter Year 1 63 Summer Year 2 120 Spring Year 1 99 Fall Year 2 54 Summer Year 1 149 Winter Year 3 94 Fall Year 1 75 Spring Year 3 151 Winter Year 2 64 Summer Year 3 210 Spring Year 2 83 Fall Year 3 99 Part 2 Based on the given attendance, the seasonal indices for each of the seasons are (round your responses to three decimal places): Season Index Winter enter your response here
Naïve method versus three period Moving Average The number of major plumbing repair jobs performed by Augur’s Plumbing Service in each of the last six months is listed below. Month Jobs October 92 November 94 December 98 January 95 February 99 March 104 Use the ‘textbook’ naïve method to forecast April jobs (Ft+1 = Xt + (Xt – Xt-1). Use the three- period moving average to forecast jobs in April Based upon the MAD (mean absolute deviation), determine whether the three-period moving average or textbook naïve method is more accurate, based upon forecasts for January through March.
Calanute Beach Resort, a fictional seaside luxury hotelin Goa, India, had the following occupancy rates for 12months in 2014Month Occupancy Rate in %1 652 683 724 755 786 837 928 889 7610 6511 6412 69a Forecast the occupancy rate for January2015 usingsimple exponential smoothing with α = 0.4. Assumethat the forecast for Month 2 (F2) is 65%. b Forecast the January 2015 occupancy rate usingtrend-adjusted simple exponential smoothing with α =…
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The president of a small chain of women’s clothing stores was concerned about a four-year trend of decreasing profits. The stores have been characterized as being rather conservative over the years with respect to their product line, store decor, and advertising. They have consistently avoided trendy clothes, for example. Their market is now becoming extremely competitive because several aggressive fashion stores are expanding and are aiming at the young, fashion-conscious buyer. As a result of this competition and the disappointing profit trend, the president is considering making the product line appear less conservative and more oriented toward the young buyer. Before making such a risky change, the president feels it prudent to conduct some marketing research to learn the exact status of his chain. What should be the research purpose? Compose a set of research questions that would be helpful.
7. The following multiple-regression model was developed to predict job performance as measured by a company job performance evaluation index based on a preemployment test score and college grade point average (GPA): y=35+20x1+50x2, where y=job performance evaluation index, x1=preemployment test score, and x2=college GPA. Part 2 a) For an applicant who had a 3.0 GPA and scored 80 on the preemployment test, the forecast for the job performance index= __________ (enter your response as a whole number).
Daily high temperatures in St. Louis for the last week were as follows: 92, 91, 95, 95, 96, 90, 93 (yesterday). a) The high temperature for today using a 3-day moving average = 9393 degrees (round your response to one decimal place). b) The high temperature for today using a 2-day moving average = 91.591.5 degrees (round your response to one decimal place). c) The mean absolute deviation based on a 2-day moving average = 2.42.4 degrees (round your response to one decimal place). d) The mean squared error for the 2-day moving average = nothing degrees2 (round your response to one decimal place).
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The manager of a utility company in the Texas panhandle wants to develop quarterly forecasts of power loads for the next year. The power loads are seasonal, and the data on the quarterly loads in megawatts (MW) for the last four years are as follows: Quarter Year 1 Year 2 Year 3 Year 4 1 102.9 90.9 121.8 108.5 2 128.4 119.4 157.6 139.9 3 142.2 144.8 165.6 145.6 4 169.8 155.9 181.7 169.0 The manager estimates the total demand for the next year at 732MW. Use the multiplicative seasonal method to develop the forecast for each quarter.
RDB Company wishes to assign a real estate brokers to one of its 6 sales districts. Based on theprofile of prospective buyers and the past performance of its top 6 brokers, the company estimatesthat average property sales, in lots/month, would be as follows: