Scenario: You are consultant for the Excellent Consulting Group. Your client wants to be able to forecast sales on a monthly basis and believes that there is a valid relationship between sales and the number of hits on their website during the previous month. To test this theory, the client has collected data on sales of one of its products, a lottery app for smart phones and hits on its website.
Using Excel and linear regression analyze the data and determine how to do forecasting using website hits.
Then forecast the next three months using the monthly hits data. Compare the forecast to the actual sales and determine the forecasting error. Ask your Instructor for the data for the actual sales when you are ready.
Then write a report to your boss and the client that briefly describes the results that you obtained. Make a recommendation on how this might be used for forecasting purposes.
Using Excel and linear regression analyze the data and determine how to do forecasting using website hits.
Then forecast the next three months using the monthly hits data. Compare the forecast to the actual sales and determine the forecasting error.
Then write a report to your boss and the client that briefly describes the results that you obtained. Make a recommendation on how this might be used for forecasting purposes.
Case 3 Data
Following are the data for website hits and app sales (number of the Lottery apps.)

April ---- ----
Be sure to shift the monthly sales up by one month because the theory is that the hits predict the next month sales (e.g., the 1,200 hits in January are paired with February's sales of 545). Therefore, your data will look like this:

Use the monthly hits for Jan through Mar to predict the sales for Feb through Apr.
When you have done so, ask your Instructor to provide the data for the actual sales for Jan through Apr.
Analysis
Accurate and complete Linear Regression analysis in Excel.
Written Report
Length requirements = 4-5 pages minimum (not including Cover and Reference pages)
Provide a brief introduction/ background of the problem.
Complete and accurate Excel analysis.
Written analysis that supports Excel analysis, and provides thorough discussion of assumptions, rationale, and logic used.
Complete, meaningful, and accurate recommendation(s).

Transcribed Image Text:

Month Hits Sales 1200 Jan 420 545 Feb 820 Mar 1151 301 1050 Apr 510 May 1180 485 Jun 1047 525 Jul 1102 460 Aug 1054 500 Sep 1254 402 Oct 1071 584 Nov 1120 422 Dec 1287 514 Jan 1164 441 Feb 1159 Mar 1298