Forecast the sales for each day

Assignment Help Business Management
Reference no: EM132075659

1. Daily sales volume for Nilgiris Convenience Store is shown in the following table:

DAY

SALES ($)

DAY

SALES ($)

1

622

6

656

2

418

7

689

3

608

8

675

4

752

9

706

5

588

10

725


Develop two-day, three-day, and four-day moving averages to forecast the sales for each day. What is the forecast for day 11 in each case?

2. Consider the data given in Problem 15 for Nilgiris Convenience Store.

(a) If the store wants to use exponential smoothing to forecast the sales volume, what is the optimal value of a that would minimize MAPE? What is the forecast for day 11 using this model?

(b) If the store wants to use linear trend analysis to forecast the sales volume, what is the linear equation that best fits the data? What is the forecast for day 11 using this model?

(c) Which of the methods analyzed here and in Problem 15 would you use? Explain your answer.

Reference no: EM132075659

Questions Cloud

Primary contribution of michael porter : Many trade theorists argue that the primary contribution of Michael Porter has been to repopularize old ideas in new
Modern extension of classical trade : 1. How would you analyze the statement that ‘‘international investment is simply a modern extension of classical trade''?
Develop a forecasting system : 1. Briefly describe the steps used to develop a forecasting system. 2. What is a time-series forecasting model?
Briefly describe the delphi technique : 1. What effect does the value of the smoothing constant have on the weight given to the past forecast and the past observed value?
Forecast the sales for each day : Develop two-day, three-day, and four-day moving averages to forecast the sales for each day. What is the forecast for day 11 in each case?
Forecast the sales for each week : Develop 2-week, 3-week, and 4-week moving averages to forecast the sales for each week. What is the forecast for week 13 in each case?
Discuss any issues impacting the business events sector : What benefits do business events bring to the visitor economy in both financial and non-financial terms? Discuss any issues impacting the business events.
How the documents would be utilized by a health care manager : To complete this Application Assignment, write a 2 page paper that provides a detailed explanation of each of the following four documents commonly found.
Describe the change in southwest airlines boarding process : Describe the change in Southwest Airlines boarding process. What was Southwest's main goal in introducing the early-bird check-in?

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd