Please answer as soon as possible and explain in detailsthanks in advance Question Three:Milka makes boxes of chocolates for which the demand is uncertain. " Quarterly demand (in boxes of chocolates) forthe last 3 years follows:QuarterYear 1Year 2Year 313,0003,3003,50221,7002,1002,4489001,5001,76844,4005,1005,882Total10,00012,00013,600Use intuition and judgment to estimate quarterly demand for the fourth year.a-b- Use weighted moving average to estimate the demand for every quarter in the fourth year.Try to calculate the weights from historical data of last two years

Forecast with intuition and judgment: The demand in year 2 is on the average 20% above year 1 and…

Question Three: Milka makes boxes of chocolates for which the demand is uncertain. " Quarterty demand (in boxes of chocolates) for the last 3 years follows: Quarter Year 1 Year 2 Year 3 1 3,000 3,300 3,502 2 1,700 2,100 2,448 3 900 1,500 1,768 4 4,400 5,100 5,882 Total 10,000 12,000 13,600 a Use intuition and judgment to estimate quarterly demand for the fourth year. b- Use weighted moving average to estimate the demand for every quarter in the fourth year. Try to calculate the weights from historical data of last two years

Question Three: Milka makes boxes of chocolates for which the demand is uncertain. " Quarterty demand (in boxes of chocolates) for the last 3 years follows: Quarter Year 1 Year 2 Year 3 1 3,000 3,300 3,502 2 1,700 2,100 2,448 3 900 1,500 1,768 4 4,400 5,100 5,882 Total 10,000 12,000 13,600 a Use intuition and judgment to estimate quarterly demand for the fourth year. b- Use weighted moving average to estimate the demand for every quarter in the fourth year. Try to calculate the weights from historical data of last two years

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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