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Regression Statistics & Forecasting Method Excel Questions

Regression Statistics & Forecasting Method Excel Questions


Based on Evans (2020) Chapters 8, 9, 13, and 16 end-of-chapter exercises:

  • Chapter 8 #28;
  • Chapter 9 # 8;
  • Chapter 13 #5, 12;
  • Chapter 16# 3, 10.


Complete the Analysis using Excel.

  • 28. The Excel file Salary Data provides information on current salary, beginning salary, previous experience (in months) when hired, and total years of education for a sample of 100 employees in a firm. a. Find the multiple regression model for predicting current salary as a function of the other variables. b. Find the best model for predicting current salary using the t-value criterion.
  • 8. The Excel file Closing Stock Prices provides data for four stocks and the Dow Jones Industrial Average over a one-month period. a. Develop a spreadsheet for forecasting each of the stock prices and the DJIA using a simple twoperiod and three-period moving average. b. Compute MAD, MSE, and MAPE and determine whether two or three moving average periods is better.
  • 5) A brand manager for ColPal Products must determine how much time to allocate between radio and television advertising during the next month. Market research has provided estimates of the audience exposure for each minute of advertising in each medium, which it would like to maximize. Costs per minute of advertising are also known, and the manager has a limited budget of $25,000. The manager has decided that because television ads have been found to be much more effective than radio ads, at least 75% of the time should be allocated to television. Suppose that we have the following data: Type of Ad Exposure/Minute Cost/Minute Radio 350 $400 TV 800 $2,000 a. Identify the decision variables, objective function, and constraints in simple verbal expressions. b. Mathematically formulate a linear optimization model.
  • 12. Implement the linear optimization model that you developed for ColPal Products in Problem 5 on a spreadsheet and use Solver to find an optimal solution. Interpret the Solver Answer Report, identify the binding constraints, and verify the values of the slack variables by substituting the optimal solution into the model constraints.
  • *3. The DoorCo Corporation is a leading manufacturer of garage doors. All doors are manufactured in their plant in Carmel, Indiana, and shipped to distribution centers or major customers. DoorCo recently acquired another manufacturer of garage doors, Wisconsin Door, and is considering moving its wood door operations to the Wisconsin plant. Key considerations in this decision are the transportation, labor, and production costs at the two plants. Complicating matters is the fact that marketing is predicting a decline in the demand for wood doors. The company developed three scenarios: a. Demand falls slightly, with no noticeable effect on production. b. Demand and production decline 20%. c. Demand and production decline 40%. The following table shows the total costs under each decision and scenario. Slight Decline 20% Decline 40% Decline Stay in Carmel $1,000,000 $800,000 $840,000 Move to Wisconsin $1,100,000 $950,000 $750,000 What decision should DoorCo make using each of the following strategies? a. aggressive strategy b. conservative strategy c. opportunity-loss strategy.
  • 10. For the DoorCo Corporation decision in Problem 3, suppose that the probabilities of the three scenarios are estimated to be 0.15, 0.40, and 0.45, respectively. Find the best expected value decision.

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