answer all the questions belowYou have just been given the following production reports as a new manager of a company; JanuaryFebruaryMarch AprilUnits Produced230 1,8002, 8003,000Hours Per Machine325 200 400320No of machines 3 5 44 What percentage of production is February production?If you are to forecast for May using four month simple moving average, what would be your forecastDetermine the average productivity unit for the first three months.Determine the average productivity units per machine.

What percentage of production is February production? If you are to forecast for May using four month simple moving average, what would be your forecast Determine the average productivity unit for the first three months. Determine the average productivity units per m

What percentage of production is February production? If you are to forecast for May using four month simple moving average, what would be your forecast Determine the average productivity unit for the first three months. Determine the average productivity units per m

Contemporary Marketing

18th Edition

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Louis E. Boone, David L. Kurtz

Chapter14: Pricing Strategies

Section14.2: Forecasting Demand

Problem 1LO

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Concept explainers

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.

Question

answer all the questions below

You have just been given the following production reports as a new manager of a company;

	January	February	March	April
Units Produced	230	1,800	2, 800	3,000
Hours Per Machine	325	200	400	320
No of machines	3	5	4	4

What percentage of production is February production?
If you are to forecast for May using four month simple moving average, what would be your forecast
Determine the average productivity unit for the first three months.
Determine the average productivity units per machine.

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

Expert Solution

Step 1

Average production of february is 78%.

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