A wholesale company buys sugar from a sugar mill and then supplies sugar to the

Question

A wholesale company buys sugar from a sugar mill and then supplies sugar to the retail shops. The sugar mill buys their sugar cane from the cane farmers of a region. Cane production is largely dependent on the weather condition such as rain and temperature of the region as well as extreme weather condition such as flood. The manager of the wholesale company is always worried about competitors' reactions and changes in sales. Both the wholesale company and the sugar mill manager need to know the current and future trend of sugar supply, sales and price in order to maximise company's profit. Q. A statistical linearAnswer model can produce a prediction equation to determine the future sugar price?

Explanation / Answer

A statistical linear regression model can produce a prediction equation to determine the future sugar price.

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