Use the data given below for all questions in this scenario. Please save all of your working in an Excel file. You will be asked to upload an Excel file for this scenario.
Paw Patrol Pizza Inc, is a new pizza place in Grand Rapids, MI started by your cousin. Your cousin has learned over the family grapevine about your excellent performance in SCM 371 Operations Management. She wants you to do some forecasting for her. She has provided you with historical data of weekly sales and the price she charged that week. (The price was fixed for the entire week for which the sales figure is provided).
Data:
| Price $ | Sales Qty |
| 12.00 | 830 |
| 10.50 | 642 |
| 9.99 | 980 |
| 12.00 | 280 |
| 13.10 | 483 |
| 14.05 | 310 |
1. Use the data given above to build a regression model to forecast sales given the price. What is MAPE for this model (using the given data)?
Enter your answer on the 0 to 100 scale, rounded to 2 decimal places and without the % sign. E.g. if MAPE is 13.78% then simply enter 13.78.
2. Next week your cousin expects to sell pizza for 12.5$ each. Forecast the sales she should expect at that price.
Enter your answer rounded to 2 decimal places.
3.For each $ increase in the sales price, how much does the sales forecast change?
Enter your answer rounded to 2 decimal places. Enter a positive number if sales increase and a negative number if sales decrease.
4.What % of the variation in sales is explained by your regression model?
Enter your answer on a 0 to 100 scale without the % sign, and rounded to 2 decimal places. For example, if you answer is 24.65%, simply enter 24.65.
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