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Solution Library
Using Regression Analysis for Demand Forecasting for a Pizza Company
Question
The Pizza Company is considering entering the marketplace in your community. Use the information from “The Pizza Company Data” worksheet. By conducting a demand analysis and forecast for pizza, you will be able to make a decision whether The Pizza Company should establish a presence in your community.
Write a three to five page paper in which you:
· Use Excel or other calculation software to input the data to calculate an estimated regression. Then, from the calculation provided, interpret the coefficient of determination, indicating how it will influence your decision to open the pizza business in your town or community. Explain any additional variables that may improve the coefficient of determination.
· Test the statistical significance of the independent variables and the regression equation, indicating how it will impact your decision to open the pizza shop.
· Forecast the demand for pizza for the next four (4) periods using the regression equation.
· Based on the forecasted demand, determine whether The Pizza Company should establish an operation in your community. Provide a rationale and support for the decision.
Note: Please refer to the Excel sheet for information.
Summary
The question belongs to Statistics and it is about conducting demand forecast analysis for Pizza company that wants to get into the business of pizza-making. The data pertaining to the Pizza company has been given from which regression and for demand and in turn whether or not the business can be profitable has been given in the solution.
Total Word Count 446
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