Using a 3 period moving average, what is the forecast for day 8?
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Daily demand for sandwiches at a local deli is shown in the table. Using a 3 period moving average, what is the
3 period moving average is a forecasting model which helps to identify the forecast as the average of previous three period. Based on the given information, we can identify the forecasting demand of day 8 as like given below.
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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. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?Corporate triple-A bond interest rates for 12 consecutive months follow. 9.6 9.4 9.5 9.7 9.9 9.8 9.8 10.6 10.0 9.8 9.6 9.6 (b) Develop three-month and four-month moving averages for this time series. (Round your answers to two decimal places.) Month Time SeriesValue 3-Month MovingAverage Forecast 4-Month MovingAverage Forecast 1 9.6 2 9.4 3 9.5 4 9.7 5 9.9 6 9.8 7 9.8 8 10.6 9 10.0 10 9.8 11 9.6 12 9.6 (c) Using the more accurate forecast, what is the moving average forecast for the next month? (Round your answer to two decimal places.)Calculate the average revenue per night. Rates & availability2347892Review Itinerary367495Guest Info103471Confirmation72498Revenue$ 23,464,220Room Nights143285
- Use exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, β= 0.3, and let the initial trend value be 12 and the initial forecast be 200. Period Actual Demand 1 200 2 212 3 214 4 222 5 236 6 221 7 240 8 244 9 250 10 266Matrix 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.Forecast deliveries for one of Cadbury Schweppes' subsidiaries for period 10 using the exponential smoothing with trend adjustment method. Let the beginning trend value be 4 and the initial prediction be 200, and set alpha and beta to 0.4 and 0.2, respectively. Period 01 = Actual Demand 200 Period 02 = Actual Demand 212 Period 03 = Actual Demand 214 Period 04 = Actual Demand 222 Period 05 = Actual Demand 236 Period 06 = Actual Demand 221 Period 07 = Actual Demand 240 Period 08 = Actual Demand 244 Period 09 = Actual Demand 250 Period 10 = Actual Demand 266
- Demand for portable music players for joggers has caused Nancy Industries (Nancy) to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nancy expects demand for music player to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demands for the players for last year was as follows : Month Demand (units) Jan 4200 Feb 4300 Mar 4000 Apr 4400 May 5000 Jun 4700 Jul 5300 Aug 4900 Sep 5400 Oct 5700 Nov 6300 Dec 6000 Question : From the choice of simple moving average, weighted moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate to Nancy Industries? Why?Assume the weight is 0.6 for the most recent period; 0.2 for the second most recent; 0.1 for the third most recent; and 0.1 for the fourth most recent period. Using the four-period weighted moving average technique to predict the demand in February 2019. Find the X and Y values. Dt Ft Period Demand Four-period weighted Moving Average 2014 September 9400 October 10300 November 11200 December 4998 2015 January 9800 7209 February 9555 X March 9800 Y Group of answer choices X = 9899.8; Y = 9778.2 X = 9312.8; Y = 9555.2 X = 9029.6; Y = 9312.8 X = 9555.0; Y = 9313.7 X = 9872.4; Y = 9029.4Historical demand for a product is: DEMAND January 13 February 10 March 14 April 13 May 15 June 14 a. Using a weighted moving average with weights of 0.40 (June), 0.20 (May), and 0.40 (April), find the July forecast. (Round your answer to 1 decimal place.) b. Using a simple three-month moving average, find the July forecast. (Round your answer to 1 decimal place.) c. Using single exponential smoothing with α = 0.20 and a June forecast = 12, find the July forecast. (Round your answer to 1 decimal place.) d. Using simple linear regression analysis, calculate the regression equation for the preceding demand data. (Do not round intermediate calculations. Round your intercept value to 1 decimal place and slope value to 2 decimal places.) e. Using the regression equation in d, calculate the forecast for July. (Do not round intermediate calculations. Round your answer to 1 decimal place.)