Description
Big D Incorporated is nearing completion of its portfolio of recommendations for the outdoor sporting goods company. Clearly state your variables that you would utilize in your particular path that you recommend. Utilizing a Regression Model, forecast monthly sales on either the expansion into the new market or if the recommendation is to retrench and not expand. Ensure that you provide adequate justification for your recommendations. The Board of Directors requires your input based upon your previous exercises from Units 1, 2, and 3.
Explanation & Answer
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Running head: APPLYING STATISTICAL TECHNIQUES FOR BIG D INC.
Applying Statistical Techniques for Big D Inc.
Name
Institution
Date
1
APPLYING STATISTICAL TECHNIQUES FOR BIG D INC.
2
Applying Statistical Techniques for Big D Inc.
Before expanding Big D Incorporated into a new market, it is important to analyze the
market in order to be able to predict the future of the business. Regression models among other
statistical methods are used to forecast the drivers of demand in a market. A forecast on demand
drivers will enable the company’s management to make decisions on marketing support,
resource allocation, and other investment decisions and as a result, they will be able to control
the destiny of the company. The path that I would recommend in predicting and forecasting
demand in the market is the use of regression analysis. Regression analysis refers to a statistical
method that is used to determine th...
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