Answered step by step
Verified Expert Solution
Question
1 Approved Answer
See below please. Daily *1 *2 x3 x4 Date Weekday Demand t (Mon) (Tue) (Wed) (Thu) x5 (Fri) (Sat) 4/29/2019 Mon 297 4/30/2019 Tue Eli
See below please.
Daily *1 *2 x3 x4 Date Weekday Demand t (Mon) (Tue) (Wed) (Thu) x5 (Fri) (Sat) 4/29/2019 Mon 297 4/30/2019 Tue Eli Orchid plans to use the data to predict the demand for the upcoming week. An accurate 293 2 forecast would be helpful in making arrangements for the company's production processes and 5/1/2019 Wed 327 3 5/2/2019 Thu 315 4 designing promotions. 5/3/2019 Fri 348 5 5/4/2019 Sat 447 The COO of the company approved the initial analysis (Mini Case 1) and asked for the following extensions. 5/5/2019 Sun 431 7 5/6/2019 Mon 283 8 5/7/2019 Tue 326 9 Use the Eli Orchid data to fit a new multiple regression model with dummy variables for days of 5/8/2019 Wed 317 10 the week ( Mon, Tue, etc.): y^ = bot bj*1 + b2x2 + by*3 + b4x4 + bexs + bex+ byt. 5/9/2019 Thu 345 11 5/10/2019 Fri 355 12 1. In columns E-J calculate the values of the dummy variables representing days of the week. DO 5/11/2019 Sat 428 13 NOT type in the values - you must build the formulas. 5/12/2019 Sun 454 14 5/13/2019 Mon 305 15 2. Run the multiple regression analysis for this model. Generate the regression output in a 5/14/2019 Tue 310 16 yellow cell below (L22). Note that the variable t is also included in the model. 5/15/2019 Wed 350 17 5/16/2019 Thu 308 18 5/17/2019 Fri 66 19 5/18/2019 Sat 460 20 5/19/2019 Sun 427 21 insert regression output in a yellow cell below] 5/20/2019 Mon 291 22 5/21/2019 Tue 325 23 5/22/2019 Wed 354 24 5/23/2019 Thu 322 25 5/24/2019 Fri 405 26 5/25/2019 Sat 442 27 5/26/2019 Sun 454 28 5/27/2019 Mon 29 5/28/2019 Tue 298 30 5/29/2019 We 355 31 5/30/2019 Thu 355 32 5/31/2019 Fri 374 33 6/1/2019 Sat 147 34 6/2/2019 Sun 463 35 6/3/2019 Mon 291 36 6/4/2019 Tue 319 37 6/5/2019 We 333 38 6/6/2019 Thu 39 6/7/2019 Fri 416 40 6/8/2019 Sat 475 41 6/9/2019 Sun 459 42 6/10/2019 Mon 319 43 6/11/2019 Tue 326 44 6/12/2019 Wed 356 45 6/13/2019 Thu 340 46 6/14/2019 Fri 395 47 6/15/2019 Sat 48 6/16/2019 Sun 453 49 6/17/2019 Mon 307 50 6/18/2019 Tue 324 51 6/19/2019 Wed 350 52 6/20/2019 Thu 348 53 6/21/2019 Fri 384 54 6/22/2019 Sat 474 55 6/23/2019 Sun 185 56
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started