Individual Assignmment 83 Please note you have to show all your calculation proc
ID: 364704 • Letter: I
Question
Individual Assignmment 83 Please note you have to show all your calculation processes in order to get a full credit. Some tips would be given in class. Please submit this assignment by November 14, 2017. Lauren's Beauty Boutique has experienced the following weekly sales: Sales 432 396 415 458 460 Week Forecast sales for week 6 using the nave method, a simple average, and a three-period moving average 2. Rosa's Italian restaurant wants to develop forecasts of daily demand for the next week. The restaurant is closed on Mondays and experiences a seasonal pattern for the other six days of the week. Mario, the manager, has collected information on the number of customers served each day for the past two weeks. If Mario expects total demand for next week to be around 350, what is the forecast for each day of next week? Number of Customers Week 2 Week 1 52 36 Day Tuesday Wednesday Thursday Friday Saturday 32 30 35 89 98 65Explanation / Answer
1) Forecast for week 6
Naive method = It is the actual value for previous period = 460
Simple average = Average of values of 5 week = (432+396+415+458+460)/5 = 432.2
Three period moving average = Average of values of Period 3,4 & 5 = (415+458+460)/3 = 444.33