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Operations Management
a. Please use simple linear regression to forecast the next 4 quarter demand. [You need to generate the regression report and calculate the next 4 quarters forecasting demand] b. Please write down the linear regression model. c. Based on the simple linear regression results, please answer the following questions: 1) What % of the variation in the data is explained by the model? 2) Is there a significant relationship between demand and quarter (significance level a=0.05)? (yes or no)

a. Please use simple linear regression to forecast the next 4 quarter demand. [You need to generate the regression report and calculate the next 4 quarters forecasting demand] b. Please write down the linear regression model. c. Based on the simple linear regression results, please answer the following questions: 1) What % of the variation in the data is explained by the model? 2) Is there a significant relationship between demand and quarter (significance level a=0.05)? (yes or no)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question

Operations Management

The following table contains the demand from the last 12 months: Quarter Sales 1 2 3 4 5 6 7 8 9 10 11 12 600 1550 1800 2100 2400 3100 2600 2905 3800 4500 4100 4900 a. Please use simple linear regression to forecast the next 4 quarter demand. [You need to generate the regression report and calculate the next 4 quarters forecasting demand] b. Please write down the linear regression model. c. Based on the simple linear regression results, please answer the following questions: 1) What % of the variation in the data is explained by the model? 2) Is there a significant relationship between demand and quarter (significance level a=0.05)? (yes or no)
Transcribed Image Text:The following table contains the demand from the last 12 months: Quarter Sales 1 2 3 4 5 6 7 8 9 10 11 12 600 1550 1800 2100 2400 3100 2600 2905 3800 4500 4100 4900 a. Please use simple linear regression to forecast the next 4 quarter demand. [You need to generate the regression report and calculate the next 4 quarters forecasting demand] b. Please write down the linear regression model. c. Based on the simple linear regression results, please answer the following questions: 1) What % of the variation in the data is explained by the model? 2) Is there a significant relationship between demand and quarter (significance level a=0.05)? (yes or no)
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