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Tuesday, 10 May 2022

[New post] Multiple Linear Regression Approach for Strategic Decisions on Industrial Productivity under Limited Available Budget|Asian Journal of Probability and Statistics

Site logo image SCIENCE DOMAIN INTERNATIONAL posted: " In industrial settings, proper planning and increased efficiency are greatly sought to utilise available resources when resources are limited and to minimise excessive expenditure when resources are plentiful. Good levels of Materials, Time, and Labor in"

Multiple Linear Regression Approach for Strategic Decisions on Industrial Productivity under Limited Available Budget|Asian Journal of Probability and Statistics

SCIENCE DOMAIN INTERNATIONAL

May 10

In industrial settings, proper planning and increased efficiency are greatly sought to utilise available resources when resources are limited and to minimise excessive expenditure when resources are plentiful. Good levels of Materials, Time, and Labor inputs are required to achieve productivity, which must be assessed scientifically in order to preserve long-term profit. Using Olam Cocoa Processing Industry, Nigeria as a case study, this study investigated data processing and included Statistical Package for Social Science (SPSS) to identify the link and anticipate the response of the available budget with the inputs of Materials, Time, and Labor. The analyses were conducted using a Multiple Linear Regression Model developed (i.e., it was discovered that the inputs of the selected strategic decisions collectively affected the response of the available budget with an F-value of 88.48, but none of them could reduce or increase the amount of budget, with the exception of manpower, which has a 0.069 or 93.1 percent significant effect on the available budget. With a score of 0.974, the coefficient of determination indicated a solid match of the link between strategic decisions and available budget (or 97.4 percent ). To boost corporate efficiency, it is suggested that the project manager apply his decision-making to scientific measurements rather than brainstorming.

Please click here : https://journalajpas.com/index.php/AJPAS/article/view/30239

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