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You have just purchased a small retail shop

Question # 00621987
Subject: Statistics
Due on: 11/25/2017
Posted On: 11/25/2017 11:46 AM

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Utilizing Statistics in Demand Forcasts

You have just purchased a small retail shop. You are preparing to order greeting cards. Past sales have been tracked by price point; day of the week; week of the year; and sex, age and zip code of the purchaser. There are definite differences in purchasing patterns for certain holidays. You have data for the past 24 months. What steps might you take to forecast the demand by quarter for the next 12 months?

•Identify the independent and dependent variables

•Identify the forecasting method you would use

•Explain why that is the appropriate tool

•Identify the required calculations (by function, if appropriate)

Tags shop retail small purchased just week past forecast appropriate demand quarter mightyou steps holidays data months monthsidentify independent useexplain theappropriate toolidentify requiredcalculations methodyou forecasting certain anddependent variablesidentify function purchasing shop preparing order greeting smallretail purchased

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You have just purchased a small retail shop

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