There is a global demand for business professionals who can use business data and analytics to make informed business decisions. Business professionals need to have knowledge in statistical analysis and business analytics for improving profitability and efficiency. A good business analyst will be able to interpret data, conduct data mining, find key values from the data, find relationships between variables, determine the best predictors, and interpret key findings.
Scenario:
Ihotu Printer Company manufactures two models of portable printers: Alpha and Beta. Each model Alpha costs $100 to make, and each model Beta costs $150. The profits are $30 for each model Alpha and $40 for each model Beta portable printer. Over the past few years, the company has been affected by the pandemic and supply chain issues forcing it to make optimization steps in order to maximize its profitability. If the total number of portable printers demanded per month does not exceed 2500 and the company has earmarked no more than $600,000/month for manufacturing costs, how many units of each model should Ihotu Printer Company make each month to maximize its monthly profit? What is the objective? What are the constraints, limitations, or restrictions?
Provide your solution on a graph using Desmos, Desmos Calculator, as well as MS Excel using the Solver Tool. Include your interpretation of the combination of each model that maximizes its monthly profit. Include a recommendation of the company’s financials and how it can stay profitable based on your analysis.
Part 3
For the final submission, provide a report for the company including your analysis of your forecast using moving average as well as exponential smoothing from Parts 1 & 2 as well as your interpretation of the combination of each model that maximizes its monthly profit in Part 3. Include a recommendation of the company’s financials and how it can stay profitable based on your analysis.
Assignment Requirements:
Provide the objective, constraints of the given linear optimization question in Part 3.
Use Excel as well as Desmos to show the units of each unit to maximize the company’s profit. Upload both results and interpret your results.
Submit a recommendation for Ihotu Printer Company to address forecasting results from Part 1 and 2 as well as optimization results from Part 3.
REQUIREMENTS
Word Count: 750-1000
APA Formatting
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