![Practical Management Science](https://www.bartleby.com/isbn_cover_images/9781337406659/9781337406659_smallCoverImage.gif)
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Question
second answer for part C
![Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows:
Month
January
February
March
April
May
June
Price Per Chip
$1.90
$1.61
$1.60
$1.85
$1.91
$1.95
Month
July
August
Month
Forecast
September
October
November
December
Month
Mar Apr May Jun Jul
Forecast $1.76 1.61 1.73 1.88 1.93
Apr May Jun Jul
$1.70 1.69 1.79 1.90
This exercise contains only parts a, b, and c.
a) Using a 2-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places):
Price Per Chip
$2.00
$1.70
$1.70
$1.55
$1.50
$1.75
b) Using a 3-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places):
Aug Sep Oct Nov Dec
1.88 1.80 1.65 1.58
1.95
Aug Sep Oct Nov Dec
1.98 1.85 1.70 1.63 1.53
c) The mean absolute deviation based on a 2-month moving average of March through December is $ 0.168 (round your response to three decimal places).
The mean absolute deviation based on a 3-month moving average of April through December is $
(round your response to three decimal places).](https://content.bartleby.com/qna-images/question/0a63f6a7-ec54-4c0e-abf5-810ded572838/4ac08378-dabb-47cc-883c-5404cd6f69e0/lcy5n3o_thumbnail.png)
Transcribed Image Text:Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows:
Month
January
February
March
April
May
June
Price Per Chip
$1.90
$1.61
$1.60
$1.85
$1.91
$1.95
Month
July
August
Month
Forecast
September
October
November
December
Month
Mar Apr May Jun Jul
Forecast $1.76 1.61 1.73 1.88 1.93
Apr May Jun Jul
$1.70 1.69 1.79 1.90
This exercise contains only parts a, b, and c.
a) Using a 2-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places):
Price Per Chip
$2.00
$1.70
$1.70
$1.55
$1.50
$1.75
b) Using a 3-month moving average, the forecast for periods 11 and 12 is (round your responses to two decimal places):
Aug Sep Oct Nov Dec
1.88 1.80 1.65 1.58
1.95
Aug Sep Oct Nov Dec
1.98 1.85 1.70 1.63 1.53
c) The mean absolute deviation based on a 2-month moving average of March through December is $ 0.168 (round your response to three decimal places).
The mean absolute deviation based on a 3-month moving average of April through December is $
(round your response to three decimal places).
Expert Solution
![Check Mark](/static/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps with 2 images
![Blurred answer](/static/blurred-answer.jpg)
Knowledge Booster
Similar questions
- Question: Read the below paragraph and write a short review beyond agreeing or disagreeing the paragraph Marketers should build long-term relationships with the customers so that there will be trust between customers and the company. Building trust and customer relationships require a great deal of work, but ultimately, they pay off over the long term. People need to trust a brand before buying from it, and that trust comes from repeat transactions with the brand over time. A well-designed marketing automation system uses marketing analytics to track and analyze the entire marketing process from the first touch to purchase (Bi, 2019). It collects and analyzes data and then uses this data to drive the business's overall marketing efforts. Customer Relationship Management (CRM) systems are an essential element of the marketing function. In a typical CRM system, information is stored in a database about past, current, and potential customers. This information is then used to communicate…arrow_forwardAdvertising can affect the way consumers rank a brand's attributes. Question 30 options: True Falsearrow_forwardTopic 1 – Targeting Vulnerable Consumers Some marketers target vulnerable groups by their ads. Vulnerable groups are consumers who are unable to make prudent purchasing decisions due to personal or situational influences. This may include children, elderly, homeless and disabled people.a) In your opinion, should Marketers target these groups?b) Should the type of product marketed be an issue?c) Share with us one commercial that you think violates ethics and justify to what extent the commercial is unethical.arrow_forward
- Evidence of a Pink Tax The sense of resignation that female consumers feel when being hit by additional costs at the cash register is real. The additional costs are perceived as a kind of tax because they are felt to be compulsory. When addressing the question of whether, or to what degree, a pink tax actually exists it is important to pay attention to the terms of the inquiry. In this case the framing of the problem has an impact on the potential solutions to the problem. If indeed it can be regarded as a genuine tax, the ultimate source of the problem is the government. In that instance, the obvious solution would be for women to pursue political remedies through voting, lobbying, and seeking judicial relief from predatory pricing. On the other hand, if the term amounts to taxing only in the colloquial or everyday sense there may be market solutions that can help. An illustration of this kind of colloquial use of “tax” is that one might regard being forced to pull an all-nighter at…arrow_forwardQUESTION 1 The FTC requires companies to have a reasonable basis for making claims in their advertisements. This means that companies must have O a. Testimonials from satisfied customers O b. Approval from the FTC before making any claims O c. Scientific evidence to support their claims O d. A marketing strategy to attract consumers QUESTION 2 A company is accused of engaging in predatory pricing by intentionally selling its products at a loss to drive competitors out of business. This is an example of O a: Price discrimination O b. Unfair competition OC. Misleading advertising O d. Deceptive packagingarrow_forwardQuestion text Which of the following statements is correct? a. Pressure from suppliers determines attitudes towards CSR. b. They key element in the implementation of CSR is its voluntary nature. c. The pressure of sanctions applied in accordance with regulations is what drives CSRarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill EducationOperations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningProduction and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337406659/9781337406659_smallCoverImage.gif)
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259667473/9781259667473_smallCoverImage.gif)
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259666100/9781259666100_smallCoverImage.gif)
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
![Text book image](https://www.bartleby.com/isbn_cover_images/9780135198100/9780135198100_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781285869681/9781285869681_smallCoverImage.gif)
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9781478623069/9781478623069_smallCoverImage.gif)
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.