Question #3. c. What are seasonal and safety inventories? (at least 100 words) [

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Question #3. c.

What are seasonal and safety inventories? (at least 100 words) [10 points] 3) Tyrell Garden Supply is a manufacturer of outdoor gardening equipment and storage devices. Tyrell Garden Supply's storage shed sales for the past year is given in the table below: Month | Jan- Feb-1 Mar | Apr | May | Jun | Jul-- Aug -Sep-Oct --Novl. Dec Shed10 Sales Jun Jul AugSep Oct Nov Dec a) Tyrell Garden Supply wants a forecast of shed sales for next January. Use 3 month moving b) What is the forecast for next January if 6-month moving average is used? Explain the effect of c) Tyrell Garden Supply wants to forecast storage shed sales by weighting the past 3 months. The average, give a forecast for next January. [10 points] using longer period moving average. [10 points] weights for past 3 months are given in the following table. What is the forecast for next January? [10 points] Two months ago Three months abo Period Weight Last month 1/2 1/3 1/6 The following data relates the weekly sales figures of the bar to the number of guests registered in that week in a small bed-and-breakfast: 4) Bar Sales $330 Guest

Explanation / Answer

3c) Forecast for next Jan

= 1/2*14+1/3*16+1/3*18+1/6*28

=0.5*14+0.33*16+0.33*18+0.167*28

( place more weight on latest observations)

= 22.896

This is the forecast of shed sales for the next January

Please note: Please comment for any confusion.

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