The vice president of Harling Equipment needs to select a new director of marketing. The two possible candidates are Bill Jacobs and Nia Martin, and the criteria thought to be most relevant in the selection are leadership ability(L), personal skills (P), and administrative skills (A). The following pairwise comparison matrices were obtained:CriterionP | AL13P 3 1L 1A 41P|H2CriterionLeadershipPersonalJacobsAdministrativeMartinCandidateals1421JacobsMartinLeadershipJacobs115MartinLeadership Priority5(a) Compute the priorities for each pairwise comparison matrix. (Round your answers to three decimal places.)Priority1JacobsYou may have rounded in the wrong direction.MartinPersonalJacobs Martin1(b) Determine an overall priority for each candidate. (Round your answers to three decimal places.)JacobsMartin2121Personal Priority Administrative PriorityJacobsMartinAdministrativeJacobs Martin11+|+441

Find the given details below: Given details: Criterion L P A L 1 0.33 0.25 P 3 1 2…

The vice president of Harling Equipment needs to select a new director of marketing. The two possible candidates are Bill Jacobs and Nia Martin, and the criteria thought to be most relevant in the selection are leadership ability (L), personal skills (P), and administrative skills (A). The following pairwise comparison matrices were obtained: Criterion LPA 1 1 3 4 P31 1 2 L 1 A 4 11 Criterion Leadership Personal Administrative Candidate Jacobs Jacobs Martin Martin Leadership Jacobs Martin 5 1 335 1 (a) Compute the priorities for each pairwise comparison matrix. (Round your answers to three decimal places.) Priority Leadership Priority Jacobs You may have rounded in the wrong direction. Martin Personal Jacobs 1 (b) Determine an overall priority for each candidate. (Round your answers to three decimal places.) 2 Martin 1 2 1 Personal Priority Administrative Priority Jacobs Martin Administrative Jacobs Martin 1 4 4 1

The vice president of Harling Equipment needs to select a new director of marketing. The two possible candidates are Bill Jacobs and Nia Martin, and the criteria thought to be most relevant in the selection are leadership ability (L), personal skills (P), and administrative skills (A). The following pairwise comparison matrices were obtained: Criterion LPA 1 1 3 4 P31 1 2 L 1 A 4 11 Criterion Leadership Personal Administrative Candidate Jacobs Jacobs Martin Martin Leadership Jacobs Martin 5 1 335 1 (a) Compute the priorities for each pairwise comparison matrix. (Round your answers to three decimal places.) Priority Leadership Priority Jacobs You may have rounded in the wrong direction. Martin Personal Jacobs 1 (b) Determine an overall priority for each candidate. (Round your answers to three decimal places.) 2 Martin 1 2 1 Personal Priority Administrative Priority Jacobs Martin Administrative Jacobs Martin 1 4 4 1

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.4: Multiple Regression Models

Problem 17P: The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He...

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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?
Letz Products has two decisions to make, with the second decision dependent on the outcomeof the first. The company intends to build a new plant. Letz has the option of conducting itsown marketing research survey for which the results will either be positive or negative. Theinformation from this survey could help it decide whether to build a large plant, to build a smallplant, or not to build at all. Letz recognizes that although such a survey will not provide it withperfect information, it may be extremely helpful. Using the image explain to your client (Letz) what the above decision tree shows. You arerequired to show all working.
4 Trinity General Hospital had the following number of patient admissions during the past 8 weeks Patient Week Admissions 1 120 145 3 95 4 112 5 130 6. 110 7 100 140 Develop a 3-weck weighted average forecast for Week 4 through 9 with weights a W1 = 0.2 W2 = 0.3 W3 = 0.5 Forecast patient admissions for week 9 using simple | exponential smoothing with a = 0.2. Assume that the forecast for Week 2 (F2) is the naïve forecast.
Star, Incorporated, used Excel to run a least-squares regression analysis, which resulted in the following output: Regression Statistics Multiple R R Square Observations 0.9798 0.9560 30 Coefficients Standard Error 60,902 0.9237 Intercept Production (x) How much of the variation in cost is explained by production? 174,302 11.06 T Stat 2.86 11.97 P-Value 0.021 0.000
Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output: Regression StatisticsMultiple R 0.9834 R Square 0.9596 Observations 30 Coefficients Standard Error T Stat P-ValueIntercept 174,980 61,580 2.84 0.021 Production units (X) 11.53 0.9265 12.44 0.000 What total cost would Macomb predict for a month in which production is 2,000 units? Multiple Choice $174,900 $63,433 $198,040 $23,037
The accompanying data file contains 20 observations for t and yt. Click here for the Excel Data File a. Use the 3-period moving average for making forecasts. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. t Ут ŷt 1 54 2 50 3 46 4 51 5 45 20 20 62 62 b. Use the in-sample forecast errors to compute MSE, MAD, and MAPE. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. Value Performance Measure MSE MAD MAPE (%) c. Make a forecast for period 21. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. ŷ21
The accompanying data file contains 20 observations for t and yt. Click here for the Excel Data File a. Use the simple exponential smoothing with a = 0.2 for making forecasts. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. t Ут ŷt 1 59 - 2 68 3 64 20 20 68 b. Use the in-sample forecast errors to compute MSE, MAD, and MAPE. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. Performance Measure MSE MAD MAPE (%) Value c. Make a forecast for period 21. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. ŷ21
Exercise # 2 –Calculating MADt, Revised MADt,Error,and the Revised Error :Has the Forecast Improved ? How much has it improved in % terms ? Franklin Henry forecasts demand for an auditing and accounting services group, for an estate planning group ,and a business consulting group.His group forecasts for the preceding six-month(M) period, which were made six months prior to that time, are each based on a level, patternless projection.The following data table shows these forecasts(F) and the actual demand (AD) for each group : Estate Planning Auditing and Accounting Business Consulting (Client –days) (Client –days) (Client –days) M AD F M AD F M AD F 1 120 130 1 260 230 1 120 120 2 80 130…
RDB Company wishes to assign a real estate brokers to one of its 6 sales districts. Based on theprofile of prospective buyers and the past performance of its top 6 brokers, the company estimatesthat average property sales, in lots/month, would be as follows:
4 Trinity General Hospital had the following number of patient admissions during the past 8 weeksWeek Patient Admissions1 1202 1453 954 1125 1306 1107 1008 140 a. Develop a 3-week weighted average forecast forWeek 4 through 9 with weightsW1 = 0.2W2 = 0.3W3 = 0.5 b. Forecast patient admissions for week 9 using simpleexponential smoothing with α = 0.2. Assume that the forecast for Week 2 (F2) is the naïve forecast.
Complete the forecasting worksheets for:NaïveAverageMoving AverageWeighted Moving Average using the weights of .8, .15, and .05 with .8 being the most current, then .15, then .05ExponA use an alpha level of .75ExponB use an alpha level of .25Exponential SolverWhat is the best alpha level as determined by the Exponential Solver?Which is the best forecasting option for MAE? What is the MAE?Which is the best forecasting option for MAPE? What is the MAPE? Period Sales This is the data for the forecasting template1 1152 1183 1284 1225 1356 1287 1358 1329 13210 135
Corporate triple-A bond interest rates for 12 consecutive months follow. 9.6 9.4 9.5 9.7 9.9 9.8 9.8 10.6 10.0 9.8 9.6 9.6 (b) Develop three-month and four-month moving averages for this time series. (Round your answers to two decimal places.) Month Time SeriesValue 3-Month MovingAverage Forecast 4-Month MovingAverage Forecast 1 9.6 2 9.4 3 9.5 4 9.7 5 9.9 6 9.8 7 9.8 8 10.6 9 10.0 10 9.8 11 9.6 12 9.6 (c) Using the more accurate forecast, what is the moving average forecast for the next month? (Round your answer to two decimal places.)