BE279 - Applied Statistics and Forecasting - University of Essex

Assignment Task

Questions

A. 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.

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

B. 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.

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