CASE 4: PROJECTING SALES USING MOVING AVERAGEThe sales (in thousands) of a particular beverage of a popular milk tea shop for each quarter of the followingmonths and trend values were found using moving averages as follows:Actual Sales (inthousands)YearQuarterTrend43424123030360314203512040504538050440547140576239241LOCO The company uses the additive model and seasonal variations as follows:svQ1-18Q22Q330Q4-14Required: Project the sales for the last quarter of Year 7 and the first quarter of Year 8. State your assumptions.

Answered: The company uses the additive model and…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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2. Fastway is a parcel delivery company based in Pretoria. It measures demand on a weekly basis in terms of the number of parcels which it is given to deliver (irrespective of the size of each parcel). The forecast for week 20 is 63. The table below shows actual demands for Fastway. Week Actual demand 20 63 21 62 22 67 23 66 24 67 25 69 26 65 27 71 28 68 29 68 30 70 31 72 32 66 33 68 34 67 Predict the forecast for week 35 using an exponential smoothing with a smoothing constant of 0.20.
XYZ work in a small electric business in Basrah city. He had a sunshine controller device. He had to decide how to market his idea, and in the short term, his options could be summarised as selling the device locally, selling nationally through a website, entering a partnership with an existing company or selling the patent. His returns depended on demand, which he described as high, medium, or low. Using this simple model, he developed the matrix of potential annual gains shown below: Options Demand High Medium Low Market locally 60 90 45 Use website 23 90 78 Partnership 12 25 89 Sell patent 30 30 30 Identify the decision taken under the following approaches: (1) Equal probability (2) Regret (3) Hurwicz criterion. Note: The decision maker's degree of Pessimistic (a) is 0.3.
A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures in terms of the number of meals served as follows (Please fill the empty cells of the following table): Weeks Number of Meals 3-periods Moving Average [Actual - Forecast] (Actual - Forecast)2 1 60 -- -- -- 2 96 -- -- -- 3 103 -- -- -- 4 61 5 122 6 101 1. Which one of the following is closest to the forecast of the next week ( F7 ) for the number of meals to be served daily using the 3-periods moving average method ? a)143 b)95 c)57 d)62 2. Which one of the following is closest to the forecast error ( in terms of MAD ) for the weeks 4, 5 and 6 using the 3-periods moving average method ? a)22 b)29 c)30 d)24 3. What is the forecast error ( in terms of MSE ) for the weeks 4, 5 and 6 using the 3-periods moving average method ? a)641 b)577 c)705 d)897
PLEASE DO THIS BY EXCEL AND COMPLETE SOLUTION AND FORMULAS. I WILL UPVOTE THANK YOU
If the weights for a moving average forecast with a span of 4 are: 0.4,0.2,0.3,0.1 Problem: Under prediction Problem: Over prediction No problem
In the Delphi technique, the members of the panel of experts don’t meet and discuss, yet they must reach a certain level of agreement in their forecasts. True False
10. Quarterly demand for Jaguar XJ8’s at a Tacloban Auto dealership is forecast with the equation, Y = 10 + 3x Where; X = time period (quarterly): Quarter 1 of 2021 = 0Quarter 2 of 2021 = 1Quarter 3 of 2021 = 2Quarter 4 of 2021 = 3 and so on...The demand for the luxury car is seasonal, and the weights of quarter 1, 2, 3, and 4 are 80%, 100%,130%, and 90% respectively. Using the trend projection, forecast the demand for each quarter of2023 and 2024. Then adjust each forecast with the weighted indices.
a. What is your forecast for December of Year 4, making period 1 as the starting period for the regression? b. The actual demand for period 48 was just learned to be 5,100. Add this demand to the Inputs file and change the starting period for the regression to period 2 so that the number of periods in the regression remains unchanged. How much or little does the forecast for period 49 change from the one for period 48? The error measures? Are you surprised?c. Now change the time when the regression starts to period 25 and repeat the process. What differences do you note now? What forecast will you make for period 49?
I posted this question and it's been 18 hours that it still hasn't been answered. I only need the last two questions please (:
At an Oxford grocery store, the manager Jenny Produce buys lettuce each day to ensure really fresh produce. In her focus on quality, each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week Jenny can buy fresh lettuce for $10.00 a box. The lettuce is sold for $22.00 a box and the dealer that sells old lettuce is willing to pay $2.00 a box. Past history says that tomorrow's demand for lettuce averages 270 boxes with a standard deviation of 44 boxes. How many boxes of lettuce should Jenny purchase tomorrow? (Use Excel's NORMSINV() function to find the Z-score. Round intermediate calculations to four decimal places. Round your answer to the nearest whole number.) I have asked this 3 times and nobody has got it right.
A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures in terms of the number of meals served as follows (Please fill the empty cells of the following table): Weeks Number of Meals 3-periods Moving Average [Actual - Forecast] (Actual - Forecast)2 1 60 -- -- -- 2 96 -- -- -- 3 103 -- -- -- 4 61 5 122 6 101 1. Which one of the following is closest to the forecast of the next week ( F7 ) for the number of meals to be served daily using the 3-periods moving average method ? a)143 b)95 c)57 d)62 2. Which one of the following is closest to the forecast error ( in terms of MAD ) for the weeks 4, 5 and 6 using the 3-periods moving average method ? a)22 b)29 c)30 d)24 3. What is the forecast error ( in terms of MSE ) for the weeks 4, 5 and 6 using the 3-periods moving average method ? a)641 b)577 c)705 d)897
A shop is planning an order for a popular Christmas festive season product. Demand for the product usually starts from first week of December till first week of January and reduces sharply thereafter. For this reason, and to stimulate sales for leftovers, the product is sold at a significantly reduced price from the second week of January to the fourth week of January. Any leftover after the fourth week of January goes waste. The table below gives past data on total demand for the period from first week of December to first week of January, and from second week of January to fourth week of January, together with their respective chances of occurrence. The product can be purchased at a wholesale price of GHS60 per unit for a pack containing 600 products, GHS57 per unit for a pack containing 800 products, and GHS52 per unit for a pack containing 1000 products. The shop plans to sell the product for GHS80 per unit from first week of December to first week of January, and at a reduced…

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The company uses the additive model and seasonal variations as follows: SV Q1 -18 Q2 2 Q3 30 Q4 -14 Required: Project the sales for the last quarter of Year 7 and the first quarter of Year 8. State your assumptions.