iii) University Book Store Student Computer Purchase Program
1. Background.
The Busy Biker is a bike shop located close to Tokyo University and owned by Nomura Hideki. He began the shop 20 years ago and sell new and second hand bicycle after fixing it too. The Business grew and demand continued to increase. Nomura must determine how many bicycles he need to have in stock at every beginning of semester. Below here is the data that help Nomura to forecast and to know how accurate will it be in assisting him in his business.
2. The Busy Biker Shop Data
|Year |Bikes Sold |
|1 |225 |
|2 |313 |
|3 |475
…show more content…
The average error result shows that the forecast figures are low bias from the actual figure too.
For Weighted Average Methods, 0.5 & 0.5 Weighted Averages will be used to compare with others methods due to MAD and E are the lowest, others are not accurate and it’s not advisable to use it in the estimations.
Using the Alpha 0.5, 0.6 & 0.7 Methods from the data.
|Items |0.5 (Alpha) |0.6 (Alpha) |0.7 (Alpha) |
|Mean Absolute Deviations (MAD) |178.43 |157.86 |148.99 |
|Average Error (E) |178.43 |155.14 |137.94 |
|Next period values |1,385 |1,435 |1,480 |
Result:
For the MAD (Mean Absolute Deviations), result shows that it’s high and its sign that the data are not very accurate. The average error result shows that the forecast figures are very bias from the actual figure.
Using Alpha 0.5, 0.6 & 0.7 Methods, only Alpha 0.7 Methods will be used to compare with other methods due to lower
There are many concerns with the budget planning for Competition Bike. From year 2006 to 2008, Competition Bike experienced a 13.3% increase in sales. In year 9, sales are projected to increase to 3510 units to give sales revenue of $5,247,450. This is a bold increase after 3400 units sold in 2008 and 4000 sold in 2007. I do not think the sales will be as robust with the economy rebounding. Sales projections should be 3425 with net sales at $5,120,375.
The purpose of this case is to determine which key variables drive Crusty Pizza Restaurant’s monthly profit and then forecast what the monthly profit would be for potential stores. Based off of this information we will be able to make a recommendation to Crusty Dough Pizza Restaurant on which stores they should open and which they avoid. The group was provided 60 restaurants’ data that included monthly profit, student population, advertising expenditures, parking spots, population within 20 miles, pizza varieties, and competitors within 15 miles. For the potential stores we were given all of this
The average deviation describes the precision of the results. It was determined the results our group obtained for were very precise. This is because our average deviation for Keq was only 6.8 which comes out to be a 6. percent error. Due to our deviation being so low it indicates that the equilibrium constant is indeed a “constant”.
Weighted Average- The method used to determine inventory costs relying on average unit cost in order to calculate the cost of units sold. (Editorial Board, 2102, p. 78)
The current operations can also be improved by implementing a just-in-time inventory management system. This is where the company only buys the materials that it needs to produce the units that are actually sold. This cuts down on dollars that are tied-up in inventory held in raw materials inventory. This is a considerable amount for Competition Bikes, Inc. and will be lowered enormously as fewer materials are placed in raw materials. This will be billed in the same month in which they are produced creating fewer dollars to be tied up in inventory. This will then be converted to cash to be used as working capital.
When it comes to looking for e-businesses on the internet, there are thousands to choose from. I found there to be many different kinds of e-businesses. Some only meant for the internet, some that were e-businesses that also have locations that you can visit. Yet there are some that were originally brick and mortar type stores that opened an e-business version of their stores or became a primarily online e-business. Out of all the e-businesses I saw online, there were few that I saw that were really able to be analyzed effectively and yet be fairly unknown by others in the class. One I found really interesting that I have noticed that few other students really know about is Chegg.com, a young and growing
Calculate the weighted three-week moving average using weights of 0.40, 0.30, and 0.30 for weeks 4 through 8
In order to evaluate the efficiency of the proposed method over original Apriori and FApriori [9], experiment has been conducted several times and compared the results in 3 ways.
The American bicycle industry is very volatile. From 1967 to 1970 sales average about 7 million units a year; in 1973
The following is the list of MAD statistics for each of the models you have estimated from time-series data:
Our experimental value was compared with randomly generated data, because the experimental value means very little
13) Consider the following time series data. Suppose that you use exponential smoothing with an alpha of 0.7 to fit a forecasting model. The forecast for period 7 is
Since we did not have any data to establish appropriate weights, we used the arithmetic mean to derive a beta for Ameritrade.
To estimate the overall weighted average cost of capital, Pioneer used the weighted average cost of capital method. First, they find the proportions of each source of capital which is equity and debt.