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WidgeCorp is considering branching out into cold beverages. You have been asked to come up with a regression model to forecast monthly sales of cold beverages for the next year. Think about what variables you might include in your model.

Your manager asks for your thoughts.

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The response addresses the queries posted in 465 words with references.

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The response addresses the queries posted in 532 words with references.

// In this paper, we will consider the case of a company named as WidgeCorp that is considering selling cold beverages, so, we will predict the monthly sales of the cold beverages for the next year, using the 'Regression Analysis' and preparing a model for the same by choosing the appropriate variables. //

Regression analysis is the technique of studying a quantity, by focusing on the relationship between variables and to predict one variable using one or more other variables. Regression models are effective and powerful tools that help a Researcher or Scientist in making prediction about the past, present or future events, using the information from the past or the present. The technique is widely used for forecasting of future events because of the ease of administration in terms of expenses and time constraints (Cohen, 2003). The accuracy of the regression analysis to ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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