The Northville Post Office experiences a seasonal pattern of daily mail volume every week. The followingdata for two representative weeks are expressed in thousands of pieces of mail:Day Week 1 Week 2Sunday 5 8Monday 20 15Tuesday 30 32Wednesday 35 30Thursday 49 45Friday 70 70Saturday 15 10Total 224 210 a. Calculate a seasonal factor for each day of the week.b. If the postmaster estimates 230,000 pieces of mail to be sorted next week, forecast the volume foreach day of the week.

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A:

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Q: Compute correctly the 3day forecast report, show the computation and solutions

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A: I did my best to help you with this. If you find my efforts and answers helpful, (^-^) Please help…

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Q: please do ii. and explain and breakdown workings.

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.