Question: Section A: Read the Case below and answer the question that follows. As a new HR forecasting manager for Ebo-Nie Collections, a young and enterprising
Section A: Read the Case below and answer the question that follows.
As a new HR forecasting manager for Ebo-Nie Collections, a young and enterprising clothing company in Takoradi, your CEO came to your office one afternoon looking concerned. The CEO explained to you that the company has been facing a tremendous increase in customer demand over the last five years of operations. However, the companys use of qualitative HR forecasting techniques has been misleading which often results in their inability to meet customer deadline. In the same vein, the CEO is not sure of the specific action plan (s) that can be adopted to remedy the situation. Consequently, the CEO is seeking your advice on how regressing technique can be used to increase the precision of their human resource forecasts as a way of meeting the hike in customer demands. As a result, the CEO is advocating for the usage of regression analysis to ascertain future requirements for staff in the tailoring unit to handle customer demand. Accordingly, the CEO supplied you with the following information to help guide your regression analysis:
| X | Y |
| Output (Millions) | Number of workers |
| 2. 5 | 9 |
| 3.0 | 14 |
| 3.7 | 21 |
| 3.8 | 25 |
| 4.4 | 27 |
| 5.0 | 30 |
Required:
- Forecast the number of workers required for:
- 7 million units of various clothing
- 9 million units of various clothing (20 Marks)
- Based on your findings from question one above, which action plan(s) will you recommend to the CEO to remedy the situation and why? (5 Marks)
- Explain the importance of human resource forecasting. (5 Marks)
- Educate the CEO by discussing the differences between quantitative and qualitative human resource forecasting. Chip in your discourse some advantages and disadvantages of the two. (10 Marks)
Section A: Read the Case below and answer the question that follows.
As a new HR forecasting manager for Ebo-Nie Collections, a young and enterprising clothing company in Takoradi, your CEO came to your office one afternoon looking concerned. The CEO explained to you that the company has been facing a tremendous increase in customer demand over the last five years of operations. However, the companys use of qualitative HR forecasting techniques has been misleading which often results in their inability to meet customer deadline. In the same vein, the CEO is not sure of the specific action plan (s) that can be adopted to remedy the situation. Consequently, the CEO is seeking your advice on how regressing technique can be used to increase the precision of their human resource forecasts as a way of meeting the hike in customer demands. As a result, the CEO is advocating for the usage of regression analysis to ascertain future requirements for staff in the tailoring unit to handle customer demand. Accordingly, the CEO supplied you with the following information to help guide your regression analysis:
X
Y
Output (Millions)
Number of workers
2. 5
9
3.0
14
3.7
21
3.8
25
4.4
27
5.0
30
Required:
- Forecast the number of workers required for:
- 7 million units of various clothing
- 9 million units of various clothing (20 Marks)
- Based on your findings from question one above, which action plan(s) will you recommend to the CEO to remedy the situation and why? (5 Marks)
- Explain the importance of human resource forecasting. (5 Marks)
- Educate the CEO by discussing the differences between quantitative and qualitative human resource forecasting. Chip in your discourse some advantages and disadvantages of the two. (10 Marks)
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