We can use the methods below to control extraneous variables except O Manual control Design control Statistical control Randomization O Matching
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- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.
- Mrs. Alaa works on developing staff training programs in Al Bustan Hotel to improve the services provided by the hotel She has been working their since 1990 and she mainly uses customers feedback on social media & customer complaints to forecast future training needs. The method used by Mrs. Alaa is a. Delphi b. Judgmental C Associative models d. Time seriesThe following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 360 389 412 378 366 371 a) The forecasted demand for the week of October 12 using a 3-week moving average: to two decimal places). = pints (round your responseThe following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 345 389 412 383 366 371 a) The forecasted demand for the week of October 12 using a 3-week moving average decimal places). pints (round your response to two
- The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 350 370 410 381 371 378 a) The forecasted demand for the week of October 12 using a 3-week moving average = 376.67 pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.20, 0.35, and 0.45, using 0.45 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.). Prepare a scatter diagram for each of these data sets and then express in words the apparent relationship between the two variables. Put the first variable on the horizontal axis and the secondvariable on the vertical axis.b. Temperature (°F) 65 63 72 66 82 58 75 86 77 65 79Error rate 1 2 0 0 3 3 1 5 2 1 3Which of the following variables would lineartrend extrapolation be more accurate for? (a) An-nual population of the United States or (b) annualsales of cars produced in the United States byFord. Why?
- 1. The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Part 2 Week Of Pints Used August 31 350 September 7 372 September 14 412 September 21 381 September 28 366 October 5 378 Part 3 a) The forecasted demand for the week of October 12 using a 3-week moving average LOADING... = _____________pints (round your response to two decimal places).The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: a) The forecasted demand for the week of October 12 using a 3-week moving average = Week Of August 31 September 7 September 14 September 21 September 28 October 5 pints (round your response to two decimal places). Pints Used 345 389 408 381 371 374what are the Descriptive Statistics, Ordinal Scale and Dichotomous Variable? What are the differences among them?