(Solution) 1220 Management Calculus Project #1 Wal*Mart Dry Goods Sales 2002-2003 The Following Items Are A Guide For Responses To Be Addressed In Project One.... | Snapessays.com


(Solution) 1220 Management Calculus Project #1 Wal*Mart Dry Goods Sales 2002-2003 The following items are a guide for responses to be addressed in project one....


Please read project #1 with detail for question. Walmart%dry has data.MATH.1220

 

Management Calculus

 

Project #1

 

Wal*Mart Dry Goods Sales 2002-2003

 

The following items are a guide for responses to be addressed in project one.

 

Note question four about

 

holidays as they might address spikes in the data.

 

Spikes are outliers and should normally be removed

 

from the data to ensure a better model.

 

All content must be printed – no handwritten mathematics, graphs, labels, etc.

 

Create a pdf version of

 

your final work and send it to me.

 

Remember to copy and paste your Excel generated work into your

 

Word doc for this project before generating the pdf.

 

Students may work either separately or in teams of two.

 

Team projects will result in more intense

 

grading.

 

The project will be graded on a 0-5 scale.

 

Together with project 2, the projects will be worth

 

5% of your grade.

 

Generate supporting Excel spreadsheet(s) and graphs (use scatter plots) to answer the following

 

questions for the Dry Goods 2002-2003 data:

 

1.

 

Modeling the data linearly -

 

a.

 

Generate a linear model for this data by choosing two points.

 

b.

 

Generate a least squares linear regression model for this data.

 

c.

 

How good is this regression model?

 

d.

 

What is the marginal revenue for this department using the linear model with two data

 

points and the regression model? Note that marginal revenue is the same as the first

 

derivative of the revenue (sales) function.

 

e.

 

Compare the two models.

 

Which do you feel is better?

 

2.

 

Modeling the data quadratically -

 

a.

 

Generate a quadratic model for this data.

 

b.

 

What is the marginal revenue for this department using this model?

 

c.

 

Calculate the model generated relative max/min value.

 

Show backup analytical work.

 

d.

 

Compare actual and model generated relative max/min value.

 

3.

 

Comparing models

 

a.

 

Which model do you feel best predicts future trends?

 

Explain your rationale.

 

b.

 

Based on the model selected, what type of seasonal adjustments, if any, would be

 

required to meet customer needs?

 

4.

 

Identify holiday periods or special events that cause spikes in the original data.

 

WalMart weeks

 

start the beginning of February.

 

So, for example, Walmart week 30 in the 2002 is actually week 34

 

(30 + 4) in the calendar year 2002 which equates to the end of August 2002.

 

To make the weeks

 

continuous, week 53 is actually WalMart week 1 in 2003 and this equates to week 5 (53 – 52 +4) or

 

the first week in February 2003.

 

Week 72 is week 24 (72 – 52 + 4) in the year 2003 or mid June

 

2003.

 


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This question was answered on: May 23, 2022

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