Given an actual demand this period of 100, a forecast value for this period of 138, and an alpha of 0.88, what is the exponential smoothing forecast for next period? (Round answer to the nearest whole number.) O A. 105 OB. 133 O C. 100 OD. 138 O E. 67
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Using the moving average forecast, is it possible to forecast a demand that is biggerthan any previously observed demand?a. Yesb. No
- Forecast Including TrendAssume a previous forecast, including a trend of 110 units, a previous trend estimate of 10 units, an alpha of .20, and a delta of .30. If actual demand turned out to be 115 rather than the forecast 110, calculate the forecast for the next period.Answer the following: 1. Suppose that the demand in period 1 was 7 units and the demand in period 2 was 9 units. Assume that the forecast for period 1 was for 5 units. If the firm uses exponential smoothing with an alpha value of .20, what should be the forecast for period 3? 2. Weekly sales of copy paper at Cubicle Suppliers are provided in the table below. Compute a three-period moving average and a four-period moving average for weeks 5, 6, and 7. Compute the MAD for both forecasting methods. Which model is more accurate? Forecast week 8 with the more accurate method. Week Sales (cases) 1 17 2 21 3 26 4 18 5 29 6 17 7 21 3. The last four weekly values of sales were 80, 100, 105, and 90 units, respectively. The last four forecasts (for the…If the old forecast is 100 and the latest actual demand is 83, what is the exponentiallysmoothed forecast for the next period? Alpha is 0.25.
- Given an actual demand of 103, a previous forecast value of 99, and an alpha of .4, the exponential smoothing forecast for the next period would be a. 100.6 b. 101.4 c. 94.6 d. 101.6Given current demand in this period of 103, a forecast for this current period of 99, and an alpha of 0.4, what is the exponential smoothing forecast for the next period? Select one: a. 103.0 b. 101.4 c. 97.4 d. 94.6 and. 100.6Given an actual demand this period of 105, a forecast value for this period of 100, and an alpha of .4, what is the exponential smoothing forecast for next period?
- Not all the items in your office supply store are evenly distributed as far as demand is concerned, so you decide to forecast demand to help plan your stock. Past data for legal-sized yellow tablets for the month of August are Week 1 250 Week 2 350 Week 3 550 Week 4 650 a. Using a three-week moving average, what would you forecast the next week to be? b. Using exponential smoothing with α = 0.30, if the exponential forecast for week 3 was estimated as the average of the first two weeks [(250 + 350)/2 = 300], what would you forecast week 5 to be?Matrix uses simple exponential smoothing with S.F = 0.6 to forecast demand. The forecast for the week of Nov 1 was 350 units, whereas the actual demand turned out to be 400 units. Forecast the demand for the week of Nov 8 to week Nov 22 Week Actual Demand Forecast Nov 01 350 400 Nov 08 460 430 Nov 15 501 448 Nov 22 495 479.8 Element of Competency Determine the quantity of raw materials and other products order.Using the double exponential smoothing forecast, is it possible to forecast a demand thatis bigger than any previously observed demand?a. Yesb. No
