The purpose of this assignment is to help you practice skills that are essential to success in this course and your professional life after graduation. You will conduct a forecast. Almost all decisions by managers involve a forecast.

You will build a variety of skills. For this assignment, you will seek out quality data, choose a time horizon, select a forecasting technique, make the forecast, and critique the goodness of fit in the regression equation. Additionally, you will build general education skills, critical thinking, communication, and information literacy.

Don't use plagiarized sources. Get Your Custom Essay on
The purpose of this assignment is to help you practice skills that are essential to success in this course and your professional life after graduation. You will conduct a forecast. Almost all decisions by managers involve a forecast. You will build a
Just from $10/Page
Order Essay

Forecast – Conduct a forecast by choosing and using simple regression analysis given data as an input, and evaluate the forecast result by the criteria of the regression equation.

Use the following scenario and data:

· Scenario – FlyHigh airlines is test marketing their boxed snacks sold on their short flights. FlyHigh selected 15 different markets for a quarter-long sales test. For the entire quarter, the boxed snack was sold onboard at 4 different prices starting at $8.50 a box. Data was collected on the average income of the passenger aboard the flights. Data was also collected that represented a snack purchased off-board (presumably in the airport) and carried on by the passenger. The amount of passengers that this boxed snack was available to and the ultimate quantity sold was also collected.

Forecast Data can be found in the attachment section

Answer the following in your Forecast and Recommendation:

· What is your selected linear demand function given the variables presented? (hint: Qd = x + y + z + q….)

· What is the estimated linear demand function (Q = ….)?

· What percentage of the variation in sales (Q) is explained by the demand function?

· What if the price of the boxed lunch sold on board was increased by $2?

· If a typical market sold a boxed snack at $8.75, their average income was $80,378, the off-board priced snack was $7.50, and the population was 6,378, what is the expected sales?

· Given this information, as a manager, make a recommendation to FlyHigh airlines on the price of their boxed snacks.

“Place your order now for a similar assignment and have exceptional work written by our team of experts, guaranteeing you A results.”

SUPPORT

support@classmatetutor.com

About us

Contact us

User reviews

Become a freelance writer

FAQ’s

OUR SERVICES

 

Persuasive essays

Expository essays

Compare and contrast Essays

Persuasive essays

Argumentative essays

Narrative essays

Definition essays

Informative essays

MAIN

Place order

Our Affiliate program

Privacy Policy

 

LEGAL

Our privacy policy

Terms and conditions

Our Cookie Policy

Confidentiality policy

 

 

Disclaimer: Writemasters is a professional essay writing service, providing custom assistance for research and reference purposes only. The use of our work must comply with all academic guidelines and integrity standards. Copyright © 2009 - 2024
7904 Dorothy St, Rosemead, CA 91770
Open chat
1
Need help? Chat Now
Scan the code
Hello, welcome to our instant WhatsApp chat. We are online and ready to assist.
How can we help you today?