Research paper on Making Decisions Based on demand and forecasting

Domino’s Pizza is considering entering the marketplace in your community. Conduct research about the demographics of your community, for example the population size and average income per household, and other independent variables, such as price of pizza and price of soda, for this assignment. By conducting a demand analysis and forecast for pizza, you will be able to make a decision whether Domino’s should establish a presence in your community.

Write a three to five (2-3) page paper in which you:

1.Report the demographic and independent variables that are relevant to complete a demand analysis providing a rationale for the selection of the variables.

2.Using Excel or other calculation software, input the data you collected in criterion one to calculate an estimated regression. Then, from the calculation provided, interpret the coefficient of determination, indicating how it will influence your decision to open the pizza business. Explain any additional variables that may improve the coefficient of determination.

3.Test the statistical significance of the variables and the regression equation, indicating how it will impact your decision to open the pizza business.

4.Forecast the demand for pizza in your community for the next four (4) months using the regression equation, including the assumptions that were used to create the demand. Justify the assumptions made related to the forecast.

5.Based on the forecasting demand, determine whether Dominos should establish a restaurant in your community. Provide a rationale and support for the decision.

6.Cite at least two (2) different government sources for the demographic information you collected.

Your assignment must follow these formatting requirements:
•Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.•

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:
•Apply the concepts of supply and demand to determine the impact of changes in market conditions in the short run and long run, and the economic impact on a company’s operations.

•Use technology and information resources to research issues in managerial economics and globalization.

•Write clearly and concisely about managerial economics and globalization using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 200    Assignment 1: Making Decisions Based on Demand and Forecasting
Criteria    Unacceptable
Below 70% F    Fair
70-79% C    Proficient
80-89% B    Exemplary
90-100% A
1. Report the demographic and independent variables that are relevant to complete a demand analysis, providing a rationale for the selection of the variables.
Weight: 15%    Did not submit or incompletely reported the demographic and independent variables that are relevant to complete a demand analysis, providing a rationale for the selection of the variables.    Partially reported the demographic and independent variables that are relevant to complete a demand analysis, providing a rationale for the selection of the variables.    Satisfactorily reported the demographic and independent variables that are relevant to complete a demand analysis, providing a rationale for the selection of the variables.    Thoroughly reported the demographic and independent variables that are relevant to complete a demand analysis, providing a rationale for the selection of the variables.
2. Using Excel or other calculation software, input the data you collected in criterion one to calculate an estimated regression. Then, from the calculation provided, interpret the coefficient of determination, indicating how it will influence your decision to open the pizza business. Explain any additional variables that may improve the coefficient of determination.
Weight: 20%    Did not submit or incompletely used Excel or other calculation software, to input the data you collected in criterion one to calculate an estimated regression; did not submit or incompletely interpreted the coefficient of determination, indicating how it will influence your decision to open the pizza business; did not submit or incompletely explained any additional variables that may improve the coefficient of determination.    Partially used Excel or other calculation software, to input the data you collected in criterion one to calculate an estimated regression; partially interpreted the coefficient of determination, indicating how it will influence your decision to open the pizza business; partially explained any additional variables that may improve the coefficient of determination.    Satisfactorily used Excel or other calculation software, to input the data you collected in criterion one to calculate an estimated regression; satisfactorily interpreted the coefficient of determination, indicating how it will influence your decision to open the pizza business; satisfactorily explained any additional variables that may improve the coefficient of determination.    Thoroughly used Excel or other calculation software, to input the data you collected in criterion one to calculate an estimated regression; thoroughly interpreted the coefficient of determination, indicating how it will influence your decision to open the pizza business; thoroughly explained any additional variables that may improve the coefficient of determination.
3. Test the statistical significance of the variables and the regression equation, indicating how it will impact your decision to open the pizza business.
Weight: 15%    Did not submit or incompletely tested the statistical significance of the variables and the regression equation, indicating how it will impact your decision to open the pizza business. Partially tested the statistical significance of the variables and the regression equation, indicating how it will impact your decision to open the pizza business.    Satisfactorily tested the statistical significance of the variables and the regression equation, indicating how it will impact your decision to open the pizza business.    Thoroughly tested the statistical significance of the variables and the regression equation, indicating how it will impact your decision to open the pizza business.
4. Forecast the demand for pizza in your community for the next four (4) months using the regression equation including the assumptions that were used to create the demand. Justify the assumptions made related to the forecast.
Weight: 20%    Did not submit or incompletely forecasted the demand for pizza in your community for the next four (4) months using the regression equation including the assumptions that were used to create the demand; did not submit or incompletely justified the assumptions made related to the forecast.    Partially forecasted the demand for pizza in your community for the next four (4) months using the regression equation including the assumptions that were used to create the demand; partially justified the assumptions made related to the forecast.    Satisfactorily forecasted the demand for pizza in your community for the next four (4) months using the regression equation including the assumptions that were used to create the demand; satisfactorily justified the assumptions made related to the forecast.    Thoroughly forecasted the demand for pizza in your community for the next four (4) months using the regression equation including the assumptions that were used to create the demand; thoroughly justified the assumptions made related to the forecast.
5. Based on the forecasting demand, determine whether Dominos should establish a restaurant in your community. Provide a rationale and support for the decision.
Weight: 15%    Did not submit or incompletely determined whether Dominos should establish a restaurant in your community based on the forecasting demand; did not submit or incompletely provided a rationale and support for the decision.    Partially determined whether Dominos should establish a restaurant in your community based on the forecasting demand; partially provided a rationale and support for the decision.    Satisfactorily determined whether Dominos should establish a restaurant in your community based on the forecasting demand; satisfactorily provided a rationale and support for the decision.    Thoroughly determined whether Dominos should establish a restaurant in your community based on the forecasting demand; thoroughly provided a rationale and support for the decision.
6. Cite at least two (2) different government sources for the demographic information you collected.
Weight: 5%    Did not submit or incompletely cited at least two (2) different government sources for the demographic information you collected.    Partially cited at least two (2) different government sources for the demographic information you collected.    Satisfactorily cited at least two (2) different government sources for the demographic information you collected.    Thoroughly cited at least two (2) different government sources for the demographic information you collected.
7. Clarity, writing mechanics, and formatting requirements
Weight: 10%    More than 6 errors present    5-6 errors present    3-4 errors present    0-2 errors present

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