Mathematics Homework Help. MIS 690 GCU Performance of a Demand Forecast Using Multiple Linear Regression Model Paper
Build a model that
will solve the identified problem using an individual
approach to apply an analytical process to effectively build a model
that best fits the business problem. Use one or more of the following
software applications: IBM SPSS Modeler, SPSS Statistics, Excel,
Tableau, Python, or R.
Create a draft outline describing your model and addressing the following:
- Demonstrate
your application of data analysis process by specifying which models
you built and indicate why this best addresses the business problem. - What variables did you include or leave out and why?
- Provide specific screenshots from the modeling software.
- Provide the raw software files that you used for this assignment.
Synthesize
the information from your draft outline to complete, in 750-1,000
words, the relevant components in the Methodology Approach and Model
Building section of the “Capstone Template.”
Business Problem: Our organization does not have a current plan in place for the amount of inventory they have on sight at any given time. Stores work off of their previous projections, but the organization has gained a large amount of business in the last 3-5 years and does not have a way currently to predict the amount of inventory required, causing frequent under and over stocking problems.
Analytical Problem: Perform a demand forecast to determine what the number of items are expected to be purchased in a given month. Use linear optimization to find the ideal number of inventory items to purchase.
