Answer for Scenario: Company A Is Installing A Web-based Customer

Answer for Scenario: Company A Is Installing A Web-based Customer… in $25 Only

Company A is installing a web-based customer feedback system to meet customer needs for quick response when rolling out new products. A new product line is rolling out in 48 weeks, and the customer feedback system must be installed and running in time for the new product launch. Table 1.1 in the attached “QAT1 Task 4 Spreadsheet” shows three estimates of the time it will take Company A to complete each of the project activities in the customer feedback system project: optimistic, probable, and pessimistic.

Company B is installing a similar feedback system to accompany a new product line and just announced that its new product line is ahead of schedule and will be launched in 45 weeks. Because the web-based customer feedback system must be installed and running in time for the revised date of the product launch in 45 weeks, something must be done to shorten implementation time required for the customer feedback system project. Refer to Table 1.2 in the attached “QAT1 Task 4 Spreadsheet” that lists the time it will take to complete the activities using normal resources (normal time), the expected time it will take to complete the activities if shortened as much as possible (crash time), the cost to complete the activity using normal resources (normal cost), and the cost of completing the activity on an accelerated basis (crash cost).

BUS 660 Forecasting Case Study: New Business Planning

BUS 660 Forecasting Case Study: New Business Planning for $14 Only (Instant Download)

Access the “Entrepreneurship and the U.S. Economy” page of the Bureau of Labor Statistics website (https://www.bls.gov/bdm/entrepreneurship/entrepreneurship.htm) and complete this forecasting assignment according to the directions provided in the “Forecasting Case Study: New Business Planning” resource.

Use an Excel spreadsheet file for the calculations and explanations. Cells should contain the formulas (if a formula was used to calculate the entry in that cell). Students are highly encouraged to use the Excel resource, “Forecasting Template,” to complete this assignment.

Mac users can use StatPlus:mac LE, free of charge, from AnalystSoft.

Prepare the assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

Forecasting Case Study: New Business Planning

Important Note: Students must access the “Entrepreneurship and the U.S. Economy” page of the Bureau of Labor Statistics website in order to complete this assignment.

Scenario

The generation of new business start-up is vital to the growth of the economy as it builds new jobs and creates new opportunities for the community. The Bureau of Labor Statistics tracks new business development and jobs created on the website for the United States Department of Labor. You have been tasked with forecasting economic growth and decline patterns for new businesses in the United States.

Forecasting

Access the “Entrepreneurship and the U.S. Economy” page of the Bureau of Labor Statistics website. Under the “Business establishment age” heading, the first chart reviews new businesses less than 1 year old during the March 1994 to March 2015 period. Click on the [Chart data] link below the chart:

Once the chart data window opens, you will see the number of establishments that are less than 1 year old for each year during this period:

Using the five most recent years and the “Forecasting Template” spreadsheet provided, complete the forecasts for the next two periods and provide updated Totals and Average Bias, median absolute deviation (MAD), mean squared error (MSE), and mean absolute percentage error (MAPE) for all four charts. Provide a Summary Page in Excel with a 500-750 word report on the analysis completed by the forecasting models. Include review of error, recommendations on the best forecasting model to use, and analysis of the business trend data for new business startup in the United States.

Sample Answer:

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….Two-period moving average just like any other form of trend indicator is used to gauge the direction of a particular trend in a way that a lay man who does not have a background in statistics can easily understand the direction of the trend. The 2 moving average below was utilize to gauge the direction of trends of new business establishment in the united states over the last five most recent years as shown in table 1.1 below.

            Based on table 1.1 above it can be observed that the number of new business establishments were higher that what was forecasted in the last five years. It can be seen from the curve that more entrepreneurs emerged in 2012 but later declined in 2013 before rising up again in 2014. Under the 2 period moving averages, the updated totals, average bias, median absolute deviation, mean….

……

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Answer folder has the following two files: 

  1. BUS 660 Forecasting Case Study New Business Planning.docx
  2. BUS 660 Forecasting Case Study New Business Planning.xlsx
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