Planning future activity plays a crucial role in a company as it plans for the future demands of the market. The future planning of the company for the production, finance, marketing, etc., can be done through forecasting technique. The forecasting plan helps the organization to establish the sales performance goals, get real and accurate pictures of sales, estimates the number of raw materials, the workforce of the production. ABC Furniture Company is one such company that likes to predict the sales for their subsequent year based on the customer traffic data (Shim, 2000). However, before proceeding with the sales ...
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Introduction
In this paper, we will discuss and describe the application of statistics and probability theory to a real world problem. Our goal is to provide clear and meaningful statistical exploration of the National Football League data for the 2005 season. Starting from the primary issue of this case, we will provide descriptive statistics to explain the given data set. After this, the multiple linear regression will be developed to get the best prediction of the percentage of games won, based on the given variables (factors).
Data
We are given with the data set of 32 observations. Each observation reflects a ...
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