Forecasting Model Report

574 words - 3 pages

Through our process of using data analysis and comparisons of the different types of analysis that we could use we found little discrepancy between the methodologies. The data that we analyzed garnered different results throughout, however our testing remained consistent overall. The purpose of this analysis was to forecast sales for the nest year using regression analysis, weighted analysis, moving analysis and absolute average analysis. Then we agreed on that we should use the absolute average analysis to base our final forecast on due to the consistency of 1998 versus 1999 with little change.After developing our forecasting models we moved forward with determining the demand characteristics. There did not seem to be a high demand, however the stream appeared to be consistent. The ...view middle of the document...

The largest differences were noted when comparing the results of we garnered from running the averages as opposed to running a regression analysis which showed larger fluctuations. Within a normal, consistent environment this would be the least accurate of all the tests that we completed.Observations of the team were that as the sales were higher the average price appeared to drop. Additionally, there was not sharp increase in revenue, with the highest being in 1994, however the highest jobs were in 1997.Variables had a minimal influence on our model. After analyzing the options we concurred that using the average price per sale fluctuates so much that we should use sales dollars to predict the revenue and costs. Using the other data given might illustrate trends not consistent with our finding.The final items that held an influence on our forecast were the limitations of the information; such as we had no company information, no seasonal data, no product information or inventory turns. Additionally, we lacked information on any type of marketing pushes or what the company targets were set at. Another possible limitation is the lack of labor and productivity statistics and measures.In conclusion, the data offered in this exercise, while easily forecasted, does not show growth over the last five years. 1999 seems to fall in line with the years compared in this test, with no significant bounces which might be seen as seasonal or influenced by marketing or economic trends. An overall view appears that numbers fall toward the end of their fiscal year, however not dramatically and then leads back into the norm at the being of the year. An stepped up forecast would need to be made if the trends in any one area are enhanced by sales and analyze and growth or weakness areas which could help aid in updating and enhancing company information.

Other Essays On Forecasting Model Report

Mark Mcgwire Vs Sammy Sosa Essay

1206 words - 5 pages Although a lot of people play baseball two names that come to mind are Mark McGwire and Sammy Sosa. McGwire and Sosa are very good hitters but are also so very different hitters. McGwire and Sosa are very great athletes who share apart of baseball history. McGwire and Sosa are good players but off the field they are very charitable individuals. McGwire and Sosa have many similarities and differences. IT is hard to compare Mark McGwire and

Master and slave. an analysis

495 words - 2 pages Each of the characters in The Tempest finds themselves in bondage. However, by the end of the story, the same characters are set free from whatever enslaves them. A few characters one can see enslaved are Prospero, Miranda, Ariel, and Caliban.Prospero is in bondage to his magic. Since his exile by his brother from his dukedom in Milan, he has had but a few books to help pass the twelve long years. During this time, he becomes very proficient in

Methods Of Therapy

2480 words - 10 pages METHODS OF THERAPY Therapy, from a psychologist's viewpoint, has many different meanings. It can be physical or psychological, or even both. In this paper, several different aspects of therapy will be discussed. First the word therapy will be defined more clearly, and then psychotherapy and how it differs from other interactions yet is also similar. Next therapy will be examined from the Psychodynamic, Cognitive and Humanistic-Existential points

Phineas And Gene A Comparitive

1538 words - 7 pages Phineas and Gene: A Comparative Study Throughout the story, Phineas and Gene, the two main characters, showed a number of contrasting traits. Phineas was a confident, non competitive, naive, irresponsible, and unintelligent person throughout the story, whereas Gene, Phineas' roommate, was insecure, competitive, mature, responsible, and intelligent throughout the story.Phineas had a confident nature in everything he did. As Phineas and Gene first

Mafia

2008 words - 9 pages Mafia. What does this word mean? The actual members of the Mafia aren't even sure where the word first originated or what it really means. One of the theories as to where the word came from is from Sicily, where people would yell " Morte alla Francia, Italia anela!" (Death to France, Italy groans!), therefore forming the acronym MAFIA. Others claim the word derived from the battle cry of rebels who slaughtered thousands of Frenchmen after a

Baseball Strike

1354 words - 6 pages GAME OVER! "I don't like it. People won't be able to come to these games anymore, and I don't like that". A sad nine - year - old fan voices his concerns on the 1994 major League Baseball strike. The '94 baseball season has come to an abrupt end. Players have ceased play because they feel they are being treated unfairly with the owner's plan to impose a salary cap. Owners are finding it difficult to come to terms with their own disagreements

Worst experience

299 words - 2 pages I wanted to lie down and cry. When I got home from the student/teacher/parent conference in fifth grade my mind was in shambles. After I had done everything possible to pass math, my fifth grade teacher was actually telling my Parents about my alleged poor effort. Poor effort? Didn't I do every homework assignment? Didn't I study every night and miss my favorite television show "Full house"? From an early age, I had been taught that grades are

Multinational Companies

2058 words - 9 pages Multinational Companies: Out for Profit Without Regard for Life                  What a company usually wants for its business is for it to be an successful establishment and to make an abundance of profit. Some businesses do not pose any concern on what they have to do to make this profit as long as it done. Multinational companies are firms with their home base in one country and operations in many other nations. (Molyeux, 133

Middle Adulthood 2

675 words - 3 pages The Dictionary of Social Work roughly defines middle adulthood as the period between forty-five and sixty-four years of age. There are four main tasks in this stage. They include meeting intimacy and family needs, satisfying achievement needs, taking care of elderly parents, and coping with end of life issues. Erikson identifies the need for achievement during midlife, which fits into his stage of generativity vs. stagnation. Success in adulthood

Political socialization

461 words - 2 pages Political Socialization There are many ways that our ideas are shaped and influenced as we grow up. This process by which we develop certain ways of thinking is called political socialization. There are three main influences which change and shape us being, the family, the mass media, and formal education.The family definitely has the greatest impact on us as we grow. This is primarily because ever since the beginning of childhood we are exposed

Procrastination and regrets

533 words - 3 pages Procrastination and Regrets It's Thursday afternoon and Jack has nothing to do except his homework. However, Jack doesn't feel like doing his homework, so he thinks to himself "I'll do my homework tomorrow night and go to a house party tonight." Ah yes, like many other young adults, Jack has resorted to procrastination. The procrastination bug, like young adults has also become abundant in parents.One thing that many young adults procrastinate

Similar Papers

Bcit Business Management Report Bcit Assignment

2120 words - 9 pages for their product it further lead to customer dissatisfaction. The second one is poor customer demand forecasting; the forecast system is adjusted again and again by employee in different departments which lead to inability of using forecast system effectively. Third one is lacking communication, employee in different departments does not cooperate with each other and it leads to distortion of information. The lack of communication related to

Strategic Plan: Implementation, Strategic Control, And Contingency Plan University Of Phoenix/Str581 Assignment

2198 words - 9 pages desire to improve its operational model, cash flow, and return on investment (ROI) while returning excess cash back into the company to invest in growth (Annual Report 2018, 2018). Functional Tactics While Big Lots upper executives possess a mindful insightful eye over the entire corporation, the lower level managers oversees the functional tactics (day-to-day operations). Therefore, tactic planning establishes definitive avenues required to carry

Robotics Revolution Represent For Human Employment In New Zealand In The Next 30 Years Massey University Management

1357 words - 6 pages ‘Manufacturing’, ‘Professional, scientific, and technical services’, then ‘Education and training’ (Figure.NZ, 2013). From this census we can surmise that robotics are not currently impacting the employment areas discussed earlier yet. This does not mean that robotics are not having an influence in New Zealand today, as evidenced by a 2012 report on robotics in New Zealand’s forestry sector (Bayne & Parker, 2012). Robots are assisting in harvesting

Persuasive Essay Gay And Lesbi

623 words - 3 pages Persuasive Essay - Gay and Lesbian Rights "If anyone says, 'I love God,' yet hates his brother, he is a liar. For anyone who does not love his brother, whom he has seen cannot love God, whom he has not seen," John 4:20. So, why do heterosexual people hate homosexuals? They are ordinary people with a different lifestyle who would simply like to be treated with respect. Many organized religions believe that a 'gay' lifestyle is wrong. But, if