Researchers in Germany conducted experiments meant to contrast the effectiveness of face to face (FTF) goal setting procedures with desktop video conferencing systems (DCVS) goal setting and concluded: participative goal setting in the DCVS condition was the most effective technique of goal setting directive goal setting in the DCVS condition was the most effective technique of goal setting participative goal setting in the FTF condition was the most effective technique of goal setting directive goal setting in the FTF condition was the most effective technique of goal setting

Researchers in Germany conducted experiments meant to contrast the effectiveness of face to face (FTF) goal setting procedures with desktop video conferencing systems (DCVS) goal setting and concluded: participative goal setting in the DCVS condition was the most effective technique of goal setting directive goal setting in the DCVS condition was the most effective technique of goal setting participative goal setting in the FTF condition was the most effective technique of goal setting directive goal setting in the FTF condition was the most effective technique of goal setting

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section: Chapter Questions

Problem 41P

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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?
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?
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.
Job Evaluation for Managerial Positions The Chairman of the board of directors of Jonadel Corporation has proposed that all managerial positions be included in the corporate job evaluating program. The idea came from several friends in other companies of the Chamber of Commerce and Industries where he is a member of the board of directors. The inclusion of the managerial positions in other company's job evaluation program has been found to be successful and helpful. There are differences in the pay systems based on the job evaluation and these companies and the chairman is convinced that these will work also with the company where the chairman is and has the greatest shares of stocks. tudy. In one of the special meetings of the Board of Directors, he proposed the idea to the chief operating officer. The chief operating officer said that the programs be held in abeyance until he had consulted his line and operating managers who will be affected by the changes due to job evaluation…
Consider the following time series data. Choose the correct time series plot. What type of pattern exists in the data? Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. Round your answers to two decimal places. = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. Round your answers to two decimal places. Compare the three-week moving average forecast with the exponential smoothing forecast using Use trial and error to find a value of the exponential smoothing coefficient that results in a smaller MSE than what you calculated for = 0.2. Find a value of for the smallest MSE. Round your answer to three decimal places.
for the last week, daily high temperatures in st.louis were as follows: 93, 94, 93, 95, 96, 88 and 90. i. calculate the mean absolute deviation based on a 2-day moving average. ii. compute the mean squared error for the 2-day moving average. iii. calculate the mean absolute percent error fort he 2-day moving average.
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).
The manager of YTL Computers wants to develop next year’s quarterly forecasts of sales revenue for its brand laptops. The sales are seasonal and the company believes that the following most recent eight quarters of sales should be representative of next year’s sales: Year Quarter Sales (millions of dollars) 1 1 9.2 1 2 5.4 1 3 4.3 1 4 14.1 2 1 10.3 2 2 6.4 2 3 5.4 2 4 16.0 Determine the forecast of next year’s quarterly sales revenue for this line of laptops. NOTE: For your workings, Seasonal Indexes must have four decimal points, the trend equation must have three decimal points, and the forecasts must have two decimal points. Fill in the answers in the appropriate spaces below. Trend Equation: Y = Answer + Answer X
The manager of YTL Computers wants to develop next year’s quarterly forecasts of sales revenue for its brand laptops. The sales are seasonal and the company believes that the following most recent eight quarters of sales should be representative of next year’s sales: Year Quarter Sales (millions of dollars) 1 1 9.2 1 2 5.4 1 3 4.3 1 4 14.1 2 1 10.3 2 2 6.4 2 3 5.4 2 4 16.0 Determine the forecast of next year’s quarterly sales revenue for this line of laptops. NOTE: For your workings, Seasonal Indexes must have four decimal points, the trend equation must have three decimal points, and the forecasts…
The manager of YTL Computers wants to develop next year’s quarterly forecasts of sales revenue for its brand laptops. The sales are seasonal and the company believes that the following most recent eight quarters of sales should be representative of next year’s sales: Year Quarter Sales (millions of dollars) 1 1 9.2 1 2 5.4 1 3 4.3 1 4 14.1 2 1 10.3 2 2 6.4 2 3 5.4 2 4 16.0 Determine the forecast of next year’s quarterly sales revenue for this line of laptops. NOTE: For your workings, Seasonal Indexes must have four decimal points, the trend equation must have three decimal points, and the forecasts must have two decimal points. Fill in the answers in the appropriate spaces below. Trend Equation: Y = Answer + Answer X Year 3 Forecasts: Quarter 1 = Million dollars Quarter 2 = Million dollars Quarter 3 = Million dollars Quarter 4 = Million dollars
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 15 Visa Gold cardholders resulted in a mean household income of $⁢68,420 with a standard deviation of $⁢9100. A random survey of 6 MasterCard Gold cardholders resulted in a mean household income of $⁢59,200 with a standard deviation of $⁢9200. Is there enough evidence to support the executive's claim? Let μ1 be the true mean household income for Visa Gold cardholders and μ2 be the true mean household income for MasterCard Gold cardholders. Use a significance level of α=0.05 for the test. Assume that the population variances are not equal and that the two populations are normally distributed. Step 1 of 4: State the null and alternative hypotheses for the test. Step 2 of 4: Compute the value of the t test statistic. Round your answer to three decimal places. Step 3 of 4: Determine the decision rule for rejecting the…
Born in 1954, the Sarihusada Generasi Mahardhika Company (Sarihusada) is known as a strong player in the dairy business. SGM offers mother and child products to support their fulfillment of nutrition and health. Naturally, in a survey on the e-commerce market, SGM is a strong player in the market for baby milk. Sarihusada, which has a factory in Yogyakarta, has also worked on the e-commerce market for its baby milk products. Its products are available in e-commerce in Indonesia, such as Orami, Tokopedia, Shopee, Bukalapak, JD.ID, Blibli, and Lazada SGM entered e-commerce since 2016. “The products we offer in the e-commerce market are of the same quality as those in conventional markets. However, in e-commerce we offer a different shopping experience, because consumers can enjoy the convenience of shopping anywhere and anytime while getting more educational information," said Widianto Juwono, Sales Director of Danone Specialized Nutrition Indonesia who manages the marketing of SGM…

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		participative goal setting in the DCVS condition was the most effective technique of goal setting
		directive goal setting in the DCVS condition was the most effective technique of goal setting
		participative goal setting in the FTF condition was the most effective technique of goal setting
		directive goal setting in the FTF condition was the most effective technique of goal setting