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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold $2.70 760 $3.50 510 $2.00 980 $4.20 250 $3.10 320 $4.05 480 a. Using these data, how many mocha latte coffees would be forecast to be sold according to simple linear regression if the price per cup were $2.80? [Select] What is the MAD? [Select] c. What is the Coefficient of Determination? [Select] [Select] 9 and what does that tell you?
- State the impacts of covid -19 on forecasting of airline industry ?Explain how is the moving avarages l approach equivalent to exponential smoothing ?Q/ Talk in details about : Attendance management in school problem, Make a virtual system to solve this problem using one of the MIS topics, and explain the topic and the method used to solve this problem
- Cafe Michigan 's manager, Gary Stark, suspectsthat demand for mocha latte coffees depends on the price beingcharged. Based on historical observations, Gary has gathered thefollowing data, which show the numbers of these coffees sold oversix different price values:Using these data, how many mocha latte coffees would be forecastto be sold according to simple linear regression if the priceper cup were $2.80?Please do not give solution in image format thanku In 2009, Internationale Outstanding University (IOU) had an enrollment of 27,000 undergraduates, each of whom paid $6,216 per year in tuition. In 2010, enrollment was 27,628 students, and tuition was raised 5.4%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was 27,570 students. In 2012, it is estimated that tuition will be $7,082 and IOU needs to receive 6.5% more total revenue from tuition than in 2011. How many students must IOU enroll to meet the 2012 revenue goal?12.2 The manager of the I-85 Carpet outlet needs to be able to forecast accurately the demand for Soft Shag carpet (its biggest seller). If the manager does not order enough carpet from the carpet mill, customers will buy their carpets from one of the outlets many competitors. The manager has collected the following demand data for the past 8 months. Month 1 2 3 4 5 6 7 8 Demand for Soft Shag Carpet (1000 yd) 5 10 6 8 14 10 9 12 a. Compute a three-month moving average forecast for months 4 through 9.
- 12.4. The chairperson of the department of management at Tech wants to forecast the number of students who will enroll in operations management next semester in order to determine how many sections to schedule. The chair has accumulated the following enrollment data for the past eight semesters: Students Enrolled Semester in OM 1 270 2 310 250 4 290 370 6. 410 7 400 8. 450 a. Compute a three-semester moving average forecast for semesters 4 through 9. b. Compute the exponentially smoothed forecast (a = .20) for the enrollment data. c. Compare the two forecasts using MAD and indicate the most accurate. 3.FC.51 Madison Memorial Hopsital is considering purchasing a new ambulance. The decision will rest partly on the anticipated mileage to be driven this year (2023). The miles driven during the past eight years are as follows: Year Miles Driven 2015 2016 2017 2018 2019 2020 2021 2022 3,240 1,211 3,208 3,253 2,169 2,224 1,162 1,074 Using a 4-year moving average, what would be the forecast for the miles to be driven in 2023? (Display your answer to the nearest whole number.) Number Using a 4-year weighted moving average (with last year's weight as 0.5, two years previous as 0.2; three years previous as 0.2, and four years previous as 0.1) what is the forecast for 2023? (Display your answer to the nearest whole number.) Number32 Which of the following is a prepaid fee that is collected at closing? A) Interest B) Appraisal C) Tax service D) Title insurance