BE279 - Applied Statistics and Forecasting Assignment

Assignment Task

Question 

1. A data analysis consultancy is tasked to rate four energy providers based on their response time to complaints. They have conducted a study and collected the amount of time taken by a sample of regular customers at each of these four energy providers to receive a response to their complaints. Collected data is available in BE279-2023-QAdata.xlsx file, available on Moodle under: BE279>Assessment>Data Files. You are tasked to:

1. Calculate Numerical Measures (Central Location, Variability, and Relative Standing) of Descriptive Statistics for these datasets. Explain the application of the techniques you use in detail

2. Compare the four sets of data, interpret the results obtained, and write a managerial report. Include graphical representation of the data sets in this report. 

2. A supermarket has recorded sales for two of their products (product A and product B) in the past 60 months. The manager of this supermarket wants to have the best demand forecasts for these products for the next period. The data is provided in BE279-2023-QBdata.xlsx file, available on Moodle under: BE279>Assessment>Data Files. You are required to:

a. Use Regression method to forecast the sales for the next month. Explain your approach in detail.

b. Use Single Exponential Smoothing (SES) to forecast the sales for the next month. Explain your approach in detail. 

c. After conducting your full analysis, write a managerial report for the manager of the supermarket. Interpret your findings, analyse the graphical representation of the data, and explain what they show in this report.

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