The following table presents the orders of Samson Company for the last 36 months
ID: 3202438 • Letter: T
Question
The following table presents the orders of Samson Company for the last 36 months (3 years).
Month
Order Year 1
Order Year 2
Order Year 3
January
502
614
712
February
408
592
698
March
491
584
686
April
456
532
644
May
481
599
694
June
511
604
702
July
522
624
724
August
500
612
716
September
510
625
732
October
512
627
740
November
520
650
745
December
536
680
756
Use the data in the above table and regression analysis to forecast the orders for the next 12 months (4th year). Include your excel work sheet and your work in your write up. Show the regression equation, values of intercept, slope, correlation coefficient and coefficient determination and the forecast of orders for the next 12 months.
Explain how you could make your forecast’s results more reliable by incorporating a qualitative research to your quantitative results.
Month
Order Year 1
Order Year 2
Order Year 3
January
502
614
712
February
408
592
698
March
491
584
686
April
456
532
644
May
481
599
694
June
511
604
702
July
522
624
724
August
500
612
716
September
510
625
732
October
512
627
740
November
520
650
745
December
536
680
756
Explanation / Answer
You can calculate the above in the excel by going to Data==>Data Analysis==>Regression, Input X range and Input Y range. X range would be months and Y range would be Orders.
Input would be: -
Output would be: -
y=444.43+8.77x
Based on the equation above, the forecasts would be as follows:-
y(37)=444.43+8.77(37)=768.96
y(38)=444.43+8.77(38)=777.73
y(39)=444.43+8.77(39)=786.51
y(40)=444.43+8.77(40)=795.28
y(41)=444.43+8.77(41)=804.05
y(42)=444.43+8.77(42)=812.82
y(43)=444.43+8.77(43)=821.59
y(44)=444.43+8.77(44)=830.36
y(45)=444.43+8.77(45)=839.13
y(46)=444.43+8.77(46)=847.91
y(47)=444.43+8.77(47)=856.68
y(48)=444.43+8.77(48)=865.45
Calculate manually like below: -
Month (x) Orders (y) 1 502 2 408 3 491 4 456 5 481 6 511 7 522 8 500 9 510 10 512 11 520 12 536 13 614 14 592 15 584 16 532 17 599 18 604 19 624 20 612 21 625 22 627 23 650 24 680 25 712 26 698 27 686 28 644 29 694 30 702 31 724 32 716 33 732 34 740 35 745 36 756Related Questions
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