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Grand Canyon ECN601 Module 5 problems

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Question;Problem 5-15;1.;Data collected on the yearly demand for 50-pound bags of;fertilizer at Wallace Garden Supply are shown in the following table. Develop a;three-year moving average to forecast sales. Then estimate demand again with a;weighted moving average in which sales in the most recent year are given a;weight of 2 and sales in the other two years are each given the weight of 1.;Which method do you think is best?;Problem 5-17;5-18 Sales of Cool- Man air;conditioners have grown steadily during the past five years;YEAR SALES;1 450;2 495;3 518;4 563;5 584;6?;The sales manager had predicted;before the business started, that year 1? s sales would be 410 air;conditioners. Using exponential smoothing with a weight of = 0.30, develop;forecasts for years 2 through 6.;Problem 5-24;Emergency calls to Winter Park, Florida's 911 system, for the;past 24 weeks are as follows;Week Calls Week Calls Week Calls;1 50 9 35 17 55;2 35 10 20 18 40;3 25 11 15 29 35;4 40 12 40 20 60;5 45 13 55 21 75;6 35 14 35 22 50;7 20 15 25 23 40;8 30 16 55 24 65;(A) Compute the exponential smoothing forecast of calls for each;week. Assume an initial forecast of 50 calls in the first week and use;? = 0.1. What is the forecast of the 25th week?;(B) Reforecast each period using a, = 0.6.;(C) Actual calls during the 25th week were 85. Which smoothing;constant provides a superior forecast?;5-36 In the past, Judy Holmes?s tire dealership sold an average;of 1,000 radials each year. In the past two years, 200 and 250, respectively;were sold in fall, 350 and 300 in winter, 150 and 165 in spring, and 300 and;285 in summer. With a major expansion;planned, Judy projects sales next year to increase;to 1,200 radials. What will the demand be each season? Please show work;(formulas).

 

Paper#56867 | Written in 18-Jul-2015

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