Compute and tabulate the daily demand for each month in the table below (round off to the nearest whole number).
Compute and tabulate the daily demand for each month in the table below (round off to the nearest whole number).
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 40P: The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels....
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c. Compute and tabulate the daily demand for each month in the table below (round off to the nearest whole number).
| MONTH | PRODUCTION DAYS | DEMAND |
DEMAND PER DAY |
| JAN 2022 | 16 | 150 | ? |
| FEB 2022 | 16 | 150 | ? |
| MAR 2022 | 23 | 250 | ? |
| APR 2022 | 21 | 250 | ? |
| MAY 2022 | 22 | 400 | ? |
| JUN 2022 | 22 | 500 | ? |
| JUL 2022 | 21 | 600 | ? |
| AUG 2022 | 20 | 750 | ? |
| SEP 2022 | 20 | 450 | ? |
| OCT 2022 | 20 | 250 | ? |
| NOV 2022 | 16 | 150 | ? |
| DEC 2022 | 16 | 150 | ? |
| TOTAL | ? | ? |
d. Assuming that MPQ Limited had adopted a level strategy for the year ended 31 December 2022, compute the average daily demand for the year (round off to the nearest whole number).
e. Prepare a graph showing the monthly forecasts and average daily forecast (in units per day) for MPQ Limited.
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