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Social ScienceGeorge Kyparisis owns a company that manufactures sailboats. Actual demand for George's sailboats during each of the pastfour seasons was as follows:YearSeasonWinterSpringSummerFall1,0001,4001.5601,0206801,2001.4009201,6201,5802.1002,020 1,900770690500George has forecasted that annual demand for his sailboats in year 5 will equal 5,600 sailboats.Based on the given data and using the multiplicative seasonal model, the demand level for George's saliboats in the spring ofyear 5 will besailboats (enter a whole number)
Can you help me with figuring out how to do find the correct solution? Other instructions were not as detailed. I need help with part c) . I do not know where to start or how to go about completing, thank you.
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George Kyparisis owns a company that manufactures sailboats. Actual demand for George's sailboats during each of the past four seasons was as follows: Year Season Winter Spring Summer Fall 1,000 1,400 1.560 1,020 680 1,200 1.400 920 1,6201,580 2.1002,020 1,900 770690500 George has forecasted that annual demand for his sailboats in year 5 will equal 5,600 sailboats. Based on the given data and using the multiplicative seasonal model, the demand level for George's saliboats in the spring of year 5 will besailboats (enter a whole number)
Expert Answer
Step1: Calculating the average total demand of four seasons for last four years. We have,
The formula of average demand is as follow:
Average demand = Total demand / Number of season in year
Step2: Calculating the value of seasonal factor of four season for 4 years. We have,
The formula of seasonal factor is as follow:
Seasonal factor = Seasonal demand / Average demand for the year
Step3: Calculating the average seasonal factor of four seasons for 4 year. We have,
The formula of seasonal factor is as f...
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