What is rfm model and rfm analysis explain with the complete model chart.
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What is rfm model and rfm analysis
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- One of the products of Edwards Lifesciences (EL) is artificial heart valves made from the heart valves of pigs.8 Different sizes of valves are required. However, the size of a pig's heart valve cannot be ascertained before the heart is purchased and opened. Therefore, EL has a mismatch problem: shortages of some sizes and excess of others. A program was established to document the size distribution of valves supplied by each supplier, and purchases were made from those suppliers with the needed sizes. Linear programming was used to determine the set of the suppliers that collectively satisfied EL's demand. Suppose EL purchases pig valves from three suppliers. The cost and size mix of the valves purchased from each supplier are given in the table below. Each month EL places one order with each supplier. Suppose next month, 250 large, 300 medium, and 100 small valves are needed. Formulate an LP that can be used to minimize the cost of acquiring the needed valves and use Excel's Solver to…What is the difference between a smooth and layered VES model?Bicycling World, a magazine devoted to cycling, reviews hundreds of bicycles throughout the year. Its "Road-Race" category contains reviews of bicycles used by riders primarily interested in racing. One of the most important factors in selecting a bicycle for racing is the weight of the bicycle. The following data show the weight (pounds) and price ($) for ten racing bicycles reviewed by the magazine. Click on the datafile logo to reference the data. Model Weight (lb) Price ($) Fierro 7B 17.9 2,200 HX 5000 16.2 6,350 Durbin Ultralight 15.0 8,470 Schmidt 16.0 6,300 WSilton Advanced 17.3 4,100 Bicyclette vélo 13.2 8,700 Supremo Team 16.3 6,100 XTC Racer 17.2 2,680 D'Onofrio Pro 17.7 3,500 Americana #6 14.2 8,100 (b) Use the data to develop an estimated regression equation that could be used to estimate the price for a bicycle given its weight. What is the estimated regression model? Let x represent the bicycle weight. If…
- Define below mentioned structure table in your words and explain importance of path coefficient, T value and P- Value Hypothesis Hypothesis/ Relationship Path coefficient Standard Error T- Statistics P value H13 CS > EP 0.2043 0.0459 4.4533 0.0422** H14 TS > EP 0.1481 0.2862 0.5177 0.1828 H15 OS > EP 0.0086 0.1441 0.0599 0.0709 H16 MS > EP 0.1422 0.0150 9.4705 0.0483** H17 ES > EP 0.2289 0.2611 0.8768 0.3058Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output: Regression StatisticsMultiple R 0.9834 R Square 0.9596 Observations 30 Coefficients Standard Error T Stat P-ValueIntercept 174,980 61,580 2.84 0.021 Production units (X) 11.53 0.9265 12.44 0.000 What total cost would Macomb predict for a month in which production is 2,000 units? Multiple Choice $174,900 $63,433 $198,040 $23,0371. Problem: If a car driven 50,000 miles, how much would be the maintenance cost? 2. Use Linear Regression equation to find the maintenance cost. Show step by step calculations. 3. Also, calculate r^2 for the above model. Show step by step calculations.
- Does a prep course increase SAT scores? Last year, a school offered an after-school SAT prep class that students could volunteer to take. 44 students took the course and then took the SAT. The average SAT score for this group was 1220. The average SAT score for all students who did not take the prep class was 1050. Identify as many other possible variables that you can that may explain why the SAT scores are higher for those who took the prep course than for those who did not. 2- Design an experiment that would help us determine if SAT prep causes an increase in SAT scores. a- What is the population from which you will sample? b- What sampling method will you use (simple, cluster, systematic, stratified, convenience)? Why did you choose this method? c- Describe your treatment group and your control group. d- What is your explanatory variable? e- What is your response variable?For this equation. Daniel and his family recently moved to California. Daniel wants to know which amusement park ticket package is best for his familyYour task is to recommend which ticket package Daniel and his family should purchase . You are working with Daniel's sister Amelia. Read the facts about Daniel's familyTable 1 shows the ticket packages and cost of parking for a local amusement park. In which what is the total cost to purchase a two day ticket for everyone in Daniel is family. (Image shown below)Calculate the Taguchi loss function in the following scenario. A quality characteristic has a deviation from target of 0.04 with a loss associated with deviation of $40.00. The formula for Taguchi Loss Function is: L(x) = k(x-T)2 (Refer to this spreadsheet for calculations - enter data in the yellow cells only.) What is the value of k. What would the economic loss be with a target specification of .2 and dimensional value of .215? You will need to add in the value of k from the spreadsheet.
- Calculate the Taguchi loss function in the following scenario. A quality characteristic has a deviation from target of 0.04 with a loss associated with deviation of $40.00. The formula for Taguchi Loss Function is: L(x) = k(x-T)2 (Refer to this spreadsheet for calculations - enter data in the yellow cells only.) What is the value of k. What would the economic loss be with a target specification of .2 and dimensional value of .215? You will need to add in the value of k from the spreadsheet. Calculation of k for the Loss Function Deviation from target Loss associated with deviation Loss Calculation for a Specific x Target specification, T Dimensional value, x k Loss $0.00Please show solution and formula used. Tia Moriarty started living in his own condominium after turning 25 years old. When he turned 26, he became fond of buying a pack of Gardenia wheat bread every Saturday at 5:30PM. The price of the bread is Php85.00 per pack. Assume the following: 1. Moriarty will live until 95 years old. 2. The price of the bread will remain constant, 3. Moriarty’s purchasing habits will not change. What is the lifetime value that can be generated from Moriarty as a customer of Gardenia wheat bread?You are serving flank steak for an event and need 200 6-oz. servings. You get samples and do yield tests. Show all calculations! After testing you find that: Vendor A Flank Steak costs $6.00 per pound. 4 pounds- trim loss of 1.5 pounds Vendor B Flank Steak costs $7.25 per pound. 4 pounds -trim loss of 1 pound. Determine what will the serving price of the flank steak be if your food cost target is 33%?