Given these sales figures over the first 6 months of the, Ask an Expert

Management Studies

Given these sales figures over the first 6 months of the year, your boss needs you to test two different forecasting methods (parts a and b below) to determine which method is best. For your measure of “best”, recommend to your boss that the company should use the method with the lowest mean absolute deviation (MAD). Then use that method to provide your forecast for July in part c.

Jan Feb Mar Apr May Jun

Units sold 25 37 30 38 33 34

a) Calculate the MAD for the 3 period moving average forecasting technique.

b) Calculate the MAD for the 2 period weighted moving average forecasting technique. Use weights of 0.8 and 0.2, with the most recent observation weighted higher.

How many units would you forecast will be sold in July?

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91767367

Have any Question?Write your Review or question?

Related Questions in Operation Management

1 customer value is defined as the customers evaluation of

1. Customer value is defined as the customer's evaluation of the perceived difference between all the benefits and all the costs of a marketing offer relative to those of competing offers. T/F 2. An aspect of managing se ...

Consider the following order point without safety stock is

Consider the following: Order point without safety stock is 200. Carrying cost is $40 per unit per year. Cost of a stock out is $70 per unit per year. The probability of demand during lead time is as follows: Demand Duri ...

1 think of a company you are familiar with briefly describe

1. Think of a company you are familiar with. Briefly describe a couple problems the company faces that could be addressed, at least in part, through optimization. The problems can be either strategic or operational in na ...

1 what features of the american political system promote

1. What features of the American political system promote fragmentation, lack of coordination, and inconsistencies in the policy-making process? In your view, how could this incremental system of policy making be changed ...

Describe what access control model can represent the

Describe what access control model can represent the following two security policies: a. Administrators only can create and delete patient records. b. Administrators only can create and delete patient records, but Admin ...

Livingston tools a manufacturer of battery-operated

Livingston Tools, a manufacturer of battery-operated, hand-held power tools for consumer markets, has a problem. Its two biggest customers are “big box” discounters. Because the customers are fiercely price competitive, ...

Main subject internal relations1 transformational

Main Subject: Internal Relations 1. Transformational Leadership through Effective Internal Communication Respond to the main points of Transformational Leadership through Effective Internal Communication assigned by two ...

When looking at the life of a project plan it is useful to

When looking at the life of a project plan, it is useful to graph and outline the cost variance (CV), and schedule variance (SV). Determining progress, or lack of progress, provides essential information to assess a give ...

1 how is strategic human resource management a competitive

1. How is strategic human resource management a competitive advantage? 2. Which external condition has experienced the most rapid change over the past? decade? 3. Anger in the work place is common place. Anger can either ...

Describe an effective leadership approach from a biblical

Describe an effective leadership approach from a biblical perspective. Include the following: Describe core attributes. Support with Scripture. Describe style and approach. Distinguish from popular models in purpose and ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Operation Management Expert