A local moving company has collected data on the number of moves they have been asked to perform over the past two years. Moving is highly seasonal, so the owner/operator, who is both burly and highly educated, decides to apply the multiplicative seasonal method to forecast the number of customers for the coming year. The equation for the trend line of yearly sales is Ft = 16 + 60t. Please forecast demand for each quarter in Year 3. (Round the forecasts to whole numbers and show all calculations). Complete the table below and forecast the sales of Year 3 by quarter. Year 1 Year 2 Year 3 Quarter Demand Seasonal Index Quarter Demand Seasonal Index Average Seasonal Index Forecast 1 20 1 27 2 40 2 45 3 45 3 55 4 31 4 41 Total Average
A local moving company has collected data on the number of moves they have been asked to perform over the past two years. Moving is highly seasonal, so the owner/operator, who is both burly and highly educated, decides to apply the multiplicative seasonal method to forecast the number of customers for the coming year. The equation for the trend line of yearly sales is Ft = 16 + 60t. Please forecast demand for each quarter in Year 3. (Round the forecasts to whole numbers and show all calculations). Complete the table below and forecast the sales of Year 3 by quarter. Year 1 Year 2 Year 3 Quarter Demand Seasonal Index Quarter Demand Seasonal Index Average Seasonal Index Forecast 1 20 1 27 2 40 2 45 3 45 3 55 4 31 4 41 Total Average
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 2.1CE
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A local moving company has collected data on the number of moves they have been asked to perform over the past two years. Moving is highly seasonal, so the owner/operator, who is both burly and highly educated, decides to apply the multiplicative seasonal method to
Complete the table below and forecast the sales of Year 3 by quarter.
Year 1 | Year 2 | Year 3 | |||||
Quarter | Demand | Seasonal Index | Quarter | Demand | Seasonal Index | Average Seasonal Index | Forecast |
1 | 20 | 1 | 27 | ||||
2 | 40 | 2 | 45 | ||||
3 | 45 | 3 | 55 | ||||
4 | 31 | 4 | 41 | ||||
Total | |||||||
Average |
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