iven an actual demand this period of 100, a forecast value for this period of 130, a 6, what is the exponential smoothing forecast for next period? (Round answer to t hole number.) OA. 100 O B. 130 C. 82 OD. 112 O E. 118
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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?Under what conditions might a firm use multiple forecasting methods?
- 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?
- 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? (Round answers to two decimal places.)Given an actual demand this period of 90, a forecast for this period of 58, and an alpha of 0.2, what would the forecast for the next period be using exponential smoothing?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.Using the moving average forecast, is it possible to forecast a demand that is biggerthan any previously observed demand?a. Yesb. NoNot 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?
