A police station had to deploy a police officer for an emergency multiple times in the last four evenings. The table below shows the number of emergencies each evening. Weekday Number of calls each day Monday 8 Tuesday 2 Wednesday 11 Thursday 15 What would be their forecast for the emergencies on Friday using a two-day moving average approach?

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Q: involve

A: The answer to this question is true.

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A: Week ofPrints usedAug-31360Sep-07372Sep-14412Sep-21378Sep-28368Oct-05374

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A:

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Q: A police station had to deploy police officers for emergencies multiple times the lastfour evenings.…

A: Formula:

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A:

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A:

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Q: What benefits does exponential smoothing have over moving averages as a forecasting tool?

A: As a forecasting function, exponential smoothing has the following benefits over running averages:…

Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.