In: Operations Management
Here is the data on the number of dog bites seen in the emergency department (ED) each season for the past 4 years.
Season |
2016 |
2017 |
2018 |
2019 |
Winter |
108 |
100 |
101 |
110 |
Spring |
95 |
96 |
94 |
87 |
Summer |
120 |
117 |
117 |
120 |
Fall |
80 |
79 |
77 |
75 |
Apply the Least Square Regression model studied in class to forecast demand for the four seasons of the upcoming year (2020).
Hint: Review the Excel spreadsheet we used in class to set up the columns and calculations.
Below is the screenshot of the regression analysis performed in excel as mentioned in Hint -
From above -
Intercept = 103.075
Slope = -0.5382
Regression Equation - Number of Dog Bites (YT) = 103.075 - 0.5382T
For 2020 Winter, T = 17
For 2020 Spring, T = 18
For 2020 Summer, T = 19
For 2020 Fall, T = 20
Y17 = 103.075 - 0.5382*17 = 93.9256
Y18 = 103.075 - 0.5382*18 = 93.3874
Y19 = 103.075 - 0.5382*19 = 92.8492
Y20 = 103.075 - 0.5382*20 = 92.311