Question: Data - driven decision making: Use the data provided to determine two cities should consider for its next set of stores. Sampling and Probability: From
Datadriven decision making: Use the data provided to determine two cities should consider for its next set of stores.
Sampling and Probability: From the sales data, pick random samples to estimate sales for the new stores. Use probability techniques to predict the range of sales figures.
Predictive Modeling:
Use single and multiple regressions to predict sales for new products.
Build a predictive model to estimate the monthly sales for the new stores for the first year.
Simulation: Use Monte Carlo simulation or Event Logic and Entity LifeCycle Logic Models to forecast sales and stock demands for different seasons.
Linear Programming:
Use Solver to determine the optimal product assortment for the new stores, given constraints like shelf space, supplier agreements, and predicted demand.
Factor in simultaneous decision problems, ensuring every decision complements the other.
Visualization and Presentation: In Excel, create dashboards and charts that showcase your findings in a clear, visually appealing manner. Your final presentation should tell a compelling story about how Superstore should approach its expansion.
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