Consider the monthly sales data of a company for last year as well as first six-month data for current year. Use a three- quarter weighted moving average, Forecast the sales of company for 3rd Quarter of current year. Use Weights of 4/7, 2/7 and 1/7, giving more weight to more recent data. Note, the 1ist quarter is Jan, Feb and March, 2nd quarter is Apr, May, June, 3rd quarter is July, Aug and Sept, and 4th quarter is Oct, Nov and Dec. Month Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Last Yr 100 125 135 175 185 200 150 140 130 200 225 250 Current Yr 125 135 135 190 200 190

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Q: Hair dryers have sold 100, 110, 120, and 130 units at Walgreens stores in Youngstown, Ohio, during…

A: a) 3-month moving average:    =110 + 120 + 1303= 120 Dryers.

Q: Monthly sales for a six month period are as follows:  Month Sales Jan 18,000 Feb 22,000 Mar 16,000…

A: 1).  Four-month moving average:

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A: Two-step four month moving average forecast for July to December, 2013.

Q: A. Forecast sales in August using the 3-month moving average method. B. Forecast sales for the month…

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Q: V. Let's Explore / Let's Create 1. Discuss the other types of forecasting methods that financial…

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A: Forecasting is the process of making assumptions of the future on the basis of past and present data…

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A: Formula:

Q: What is the difference between VaR method and business forecasting? Answer briefly and concisely.

A: Forecasting is the process of predicting future happenings based on past experiences or data.

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A: Given data-

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A: Solution 1. The time series plot is constructed by taking sales data on Y - axis and months on…

Q: The following table shows the past two years of quarterly sales information. Assume that there are…

A:

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Q: Explain what assumptions do qualitative forecasting systems make

A: Qualitative prediction systems make the following assumptions:

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Q: Briefly describe the steps that are used to develop a forecasting system.

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A:

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Q: If the forecasted demand for the week of August 31 is 360 and α ​= 0.20​, using exponential​…

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Q: Which of the following concepts explain why we tend to make errors in affective forecasting?

A: Affective forecasting refers to the prediction of future events on the basis of a current emotion.

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Q: Consider the monthly sales data of a company for last year as well as first six month data for…

A: Given information:

Q: Below is a table containing data on product demand for the most recent five months along with the…

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Q: Ordinary least squares technique or linear regression analysis

A: THE ANSWER IS AS BELOW:

Q: Consider the following sales data for Bell, Inc. Month Sales ($ Millions) Jan. 10 Feb. 12 March…

A: Weighted moving average M - M=∑i=nWt ×Vt∑i=nWt Where   M = Moving Average Value  V= Actual value  W…

Q: Describe four (4) features common to all forecasts techniques.

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Q: guide with reasons for the company to use appropriate forecasting models.

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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.