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.

Q: Given the following data, use exponential smoothing(a = 0.2) to develop a demand forecast. Assume…

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Q: Given the demand and forecast values shown in the following Table Q3b, i.Determine the…

A: Find the given details below:

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Q: 65) Demand for a company's product is normally distributed with a mean of 50 and a standard…

A: Given- Mean demand= 50Standard Deviation = 10

Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…

A: Solution Moving average considers the average of the past data. The average can be of three periods…

Q: Month Demand 1 45 2 48 3 43 4 48 5 49 6 54 7 47 8 50 9 46 10 47 Using the table above, calculate two…

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Q: Using the moving average forecast, is it possible to forecast a demand that is biggerthan any…

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Q: Explain the three different source of information and forecast assumptions

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Q: Actual demand and the two sets of forecasts are in the table below.       PREDICTED DEMAND Period…

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

A: %occ = Total rooms occupied/total rooms x 100

Q: Using the exponential smoothing forecast, is it possible to forecast a demand that isbigger than any…

A: Exponential smoothing forecast is a method based on time series forecasting using Univariate Data.…

Q: A company wants to forecast demand using the weighted moving average. If the company uses two prior…

A: There are various methods of forecasting. One such method is weighted moving average method. In…

Q: Given the following history, use a three-quarter moving average to forecast the demandfor the third…

A: Given information:

Q: Monthly sales ina company for a seven-period (Jan-July) were as follows: 19, 18, 16, 14, 17, 19,…

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Q: 6.For a random process, the most appropriate forecast is the naive forecast True or False

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Q: The sales of XYZ company for the previous three perlods are 45, 42, and 43 respectively Entimate the…

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Q: a. Month Demand 1 45 2 48 3 43 4 48 5 49 6 54 7 47 8 50 9 46 10 47 Using the table above, calculate…

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

Q: Monthly sales in a company for a seven-period (Jan-July) were as follows: 19, 18, 16, 14, 17, 19,…

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A: Ans) Formula:

Q: What do we mean by forecast? b. Can a forecast have an error? Justify your answer.

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

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Q: Al Maha Plastic manufacturing Companies last Six weekly values of Sales were 90, 110, 115, 135, 140,…

A: ERROR= ACTUAL SALES -FORECAST  MAD = ABSOLUTE CUMULATIVE ERROR/ WEEK NUMBER TRACKING SIGNAL=…

Q: Predict the forecast for week 35 using an exponential smoothing with a smoothing constant of 0.20.

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Q: Thus historical demand for periods is 70, 60, 80 , and respectivelyWhat is the two-period weighted…

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Q: Week Actual Forecast 1 33.2 46.8 2 27.6 34.9 3 37.6 51.2 4 51.5 56.7 5 68.0 77.4 6 70.2 83.8 7 90.6…

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Q: Use exponential smoothing with smoothing constant 0.4 to complete the table. b) Forecast the next…

A: THE ANSWER IS AS BELOW:

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A: Find the Given details below: Given details: Week Demand 1 800 2 1400 3 1000 4 1500…

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A: Formula:

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.