March demand was pridicted at 590 units of gear cycles of trevaa ltd. But the actual demand was 400 units only so fourth the company now want to forecast the april demand using exponential smoothing model with constant alpha of 0.72., calculate the same

March demand was pridicted at 590 units of gear cycles of trevaa ltd. But the actual demand was 400 units only so fourth the company now want to forecast the april demand using exponential smoothing model with constant alpha of 0.72., calculate the same

Contemporary Marketing

18th Edition

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Louis E. Boone, David L. Kurtz

Chapter14: Pricing Strategies

Section14.2: Forecasting Demand

Problem 1LO

See similar textbooks

Similar questions

Under what conditions might a firm use multiple forecasting methods?
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. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?
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?
Month Demand Forecast Error Abs Error alpha 1 20 2 18 3 21 4 25 5 24 6 27 7 22 8 30 9 23 10 20 11 29 12 22 Mean Bias MAD (mean error) Problem 6: Maverick Jeans' demand manager decided to evaluate exponential smoothing. To maintain com- parability, she used the data from problem 6, copied below. 1 Month 2 3 Demand 20 18 21 25 4 5 24 6 7 8 9 10 11 12 27 22 30 23 20 29 22 Develop forecasts for months 5-12. Calculate the Bias and MAD. Use a starting forecast of 20 for month 4 and an alpha value of 0.2. (Note: Adjust all cell values to two decimal points.)
Sales in hunderds) of XYX Cc for the previous 7 months are 80, 82. 88, 95, 103, 105 and 122 respectively. Forecast the sales by 4 point moving average method for the forthcoming penod Oa 10260 units Ob 10625 units Oc 11000 units d. 113500 units
Determine the Forecast Error for the data below using the Mean Absolute Deviation (MAD) formula. Month Demand Forecast 16 205 210 17 197 175 18 230 210 19 240 228 20 252 220 Question 11 options: a) 15.8 b) 15.7 c) 19.1 d) 16.7
Find forecasting error from the following table by using Tracking Signal. Period Actual Demand Forecasted Demand 1 8 10 2 10 10 3 7 10 4 13 10 5 9 10 6 12 10
1 Given the data below. Find the forecast value from June to December Month Actual Demand Forecast January February 380 420 March 375 April May 285 325 June July August Sept October November December ?? ?? ?? ?? ?? ?? ??
Given November actual demand of 61, November forecast of 58, and an alpha of 0.4, November trend value +1.03, Beta of 0.3 what would the forecast including trend (FIT) for the December period be using exponential smoothing model 2? Select one: a. 62.03 b. cannot be found c. 68.76 d. 65.72
B: Find forecasting error from the following table by using Tracking Signal. Period Actual Demand Forecasted Demand 1 8 10 2 10 10 3 7 10 4 13 10 5 9 10 6 12 10
Given the following history, use a three-quarter moving average to forecast the demandfor the third quarter of this year. Note that the 1st quarter is Jan, Feb, and Mar; 2ndquarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DECLast year 120 140 145 195 205 220 165 155 145 220 245 265This year 140 145 200 210 240 255
Problem 18-28 (Algo) The following are historical demand data: YEAR SEASON 2011 Spring Summer Fall 2012 Winter Spring Summer Fall Winter ACTUAL DEMAND 210 136 375 582 465 274 695 972 Use regression analysis on deseasonalized demand to forecast demand in summer 2013. (Do not round intermediate calculations. Round your answer to the nearest whole number.) Forecast for summer 2013