Scenario: You are consultant for the Excellent Consulting Group. Your client wants to be able to forecast
Question:
Using Excel and linear regression analyze the data and determine how to do forecasting using website hits.
Then forecast the next three months using the monthly hits data. Compare the forecast to the actual sales and determine the forecasting error. Ask your Instructor for the data for the actual sales when you are ready.
Then write a report to your boss and the client that briefly describes the results that you obtained. Make a recommendation on how this might be used for forecasting purposes.
Using Excel and linear regression analyze the data and determine how to do forecasting using website hits.
Then forecast the next three months using the monthly hits data. Compare the forecast to the actual sales and determine the forecasting error.
Then write a report to your boss and the client that briefly describes the results that you obtained. Make a recommendation on how this might be used for forecasting purposes.
Case 3 Data
Following are the data for website hits and app sales (number of the Lottery apps.)
April ---- ----
Be sure to shift the monthly sales up by one month because the theory is that the hits predict the next month sales (e.g., the 1,200 hits in January are paired with February's sales of 545). Therefore, your data will look like this:
Use the monthly hits for Jan through Mar to predict the sales for Feb through Apr.
When you have done so, ask your Instructor to provide the data for the actual sales for Jan through Apr.
Analysis
Accurate and complete Linear Regression analysis in Excel.
Written Report
Length requirements = 4-5 pages minimum (not including Cover and Reference pages)
Provide a brief introduction/ background of the problem.
Complete and accurate Excel analysis.
Written analysis that supports Excel analysis, and provides thorough discussion of assumptions, rationale, and logic used.
Complete, meaningful, and accurate recommendation(s).
Step by Step Answer:
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany