It is that time of year that managers of all types love to hate: budgeting for the next year. Connie Smith needs forecasts of sales for the next year she can build her budgets around.
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Description
Background
It is that time of year that managers of all types love to hate: budgeting for the next year. Connie Smith needs forecasts of sales for the next year she can build her budgets around. She would also like some idea of what 2018 could look like, though she realizes the forecasts that far in the future are a bit uncertain. She asks you to develop forecasts for 2017 as a beginning.
M6A1
Requirements Using
M6A1_Data,
Start Excel. Open the workbook M6A1-Fast Data. Immediately save the workbook with a new name. Use your
name and include the assignment name, e.g. Wright-Dawn-M6A1. This will ensure you have a good copy in
case you make mistakes. It will also make your instructor happy when grading your work, which is a good
thing.
1. Using the Fast 2000 GB Sales data for January 2012 through Dec 2016:
1a. Prepare a scatter plot (with lines instead of data points) with Month as the predictor (x) variable and
World Sales as the response (y) variable. Use a basic Excel graph to do this, not a full linear regression
using the Data Analysis tool.
How to Do It 1a.1: Excel Scatter Plot https://youtu.be/QdVei772BgY
1ai. Add a trend line with the linear regression equation and R2
.
