As an expert in field of banking operations, you were asked to put the criteria of choosing the new location a- If you were asked to choose a mechanism for forecasting the number of transactions per day, what would be the methodology that you will use to decide such forecasting method and what do you think this method may be?

As an expert in field of banking operations, you were asked to put the criteria of choosing the new location a- If you were asked to choose a mechanism for forecasting the number of transactions per day, what would be the methodology that you will use to decide such forecasting method and what do you think this method may be?

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

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ABC Company manufacture passenger cars for Malaysian customers. The sales volume is shown in Table 1. Table 1: The sales volume Period (Month) Sales Volume of Passenger Cars 1 8000 2 9500 3 7000 4 6500 5 8100 6 8600 7 9000 8 7800 9 7600 a) Based on Table 1, calculate forecast volume using and 5 periods-moving average. b) Based on Table 1, calculate forecast volume using exponential smoothing with α = 0.6. c) Evaluate which forecasting method is better between 5 periods- moving average and exponential smoothing with α = 0.6.
Forecasting is critical in modern times. Business organizations manifested more concern with anticipating the future, and as a consequence, a number of highly successful consulting firms emerged to provide forecasting help for governments and businesses. You are required: iii. Identify the different levels that forecasting of business trends takes place. iv. Give 3 examples where long-range forecasting can be used v. Do you think forecasting is always correct and accurate? Discuss this assertion in detail
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Alvin Cheah is a marketing analyst for Rockstar Travel Company. He wants to analyze the trend ofinternational tourist arrival in Tawau by using international tourist arrival rate and flight delayed rate overthe past 10 years as given in Table 2 below: (Hint: Provides your answers in two decimal points) (i) Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particular model?(ii) Develop the forecasting model that you suggest in (i). Briefly explain your model.
Alvin Cheah is a marketing analyst for Rockstar Travel Company. He wants to analyze the trend of international tourist arrival in Tawau by using international tourist arrival rate and flight delayed rate over the past 10 years as given in Table 2 below: (Hint: Provides your answers in two decimal points) (i) Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particular model? (ii) Develop the forecasting model that you suggest in (i). Briefly explain your model.
Why is accurate forecasting so important to companies thatuse a continuous replenishment inventory system?
Give typed answer Question: Use an exponential smoothing model with a =.4 to forecast issues remediated for periods 6-10. (Assume a beginning forecast of 320 for period 5). 1. Forecast Period 6 (August) : ? 2. Forecast Period 7 (September) : ? 3. Forecast Period 8 (October) : ? 4. Forecast Period 9 (November) : ? 5. Forecast Period 10 (December) : ?
Explain why is accurate forecasting so important to companies that use a continuous replenishment inventory system?
Following data set indicates the annual electricity consumption of Sri Lanka in Mega Watt Hours (MWh) from 1996 to 2022 (Table). You are required to forecast the electricity demand of Sri Lanka for the year 2023 using thefollowing smoothing methods and recommend the most appropriate value. i. Three year moving average methodii. Six year moving average methodiii. Single exponential smoothing method (smoothing constant = 0.2)iv. Single exponential smoothing method (smoothing constant = 0.05) Year Electricity Consumption in MWh 1996 1,588 1997 1,558 1998 1,753 1999 1,408 2000 1,310 2001 1,424 2002 1677 2003 1937 2004 1685 2005 1488 2006 1562 2007 1619 2008 1687 2009 1841 2010 1865 2011 1637 2012 1653 2013 1699 2014 1698 2015 1523 2016 1557 2017 1795 2018 1934 2019 2125 2020 2543 2021 2616 2022 3191
Alvin Cheah is a marketing analyst for Rockstar Travel Company. He wants to analyze the trend of international tourist arrival in Tawau by using international tourist arrival rate and flight delayed rate over the past 10 years as given in Table 2 below: (Hint: Provides your answers in two decimal points) Table 2 Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Arrival (‘000) 35.5 28.0 30.3 36.0 49.5 56.0 72.4 71.0 79.3 96.0 Delayed rate 4.2 3.8 3.8 3.5 4.6 4.5 4.6 4.6 4.7 4.5 a） Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particularmodel? b) Develop the forecasting model that you suggest in (i). Briefly explain your
3. Answer the followings. a. Myanmar CP Live Stock Company Limited Shipped Sausage boxes around Myanmar. A manager wants to forecast shipments for the first four months of the next two years by using Linear equation method. The monthly forecast equation being used is: y= 402 + 3x and determine trend amounts for the first four months of the next two year: January, x=24, February, x=25; etc. b. A farm implements dealer is seeking a fourth warehouse location to complement three existing warehouses. There are three potential locations, N.C; Atlanta, Ga.; and Columbia, S.C. Charlotte would involve a fixed cost of $4,000 per month and a variable cost of $4 per unit. Atlanta would involve a fixed cost of $3,500 per month and a variable cost of $5 per unit; and Columbia would involve a fixed cost of $5,000 per month and a variable cost of $6 per unit. Use of the Charlotte location would increase system transportation costs by $19,000 per month. Atlanta by $22,000 per month, and Columbia by…
Suppose that the Perpetual Help College of Rizal had the following record of its growth of enrollment from 2011 -2020. Year Enrolment Year Enrolment 2011 5,200 2016 7,000 2012 5,500 2017 8,800 2013 6,000 2018 9,400 2014 6,500 2019 9,600 2015 6,800 2020 10,500 a) Develop a forecast of enrolment beginning 2014 to 2021 using 3-years moving average forecast model. b) Using weights of .50 for the most recent data, .30 to the second recent data, and .20 to the 3 months old data, develop a forecast beginning 2014 to 2021 using 3 years weighted moving average forecast…