timer Asked: Apr 23rd, 2020

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Q1 The owner and manager of LaLa Department Store, has decided to use statistical forecasting to get a better handle on the demand for his major products. One category is major household appliances, such as washing machines, which have a relatively stable sales level. Monthly sales of washing machines last year are shown below. a. [2 Mark] Use the moving-average method with n = 3 retrospectively to determine what the forecasts would have been for the last 9 months of last year and error using MAD method. b. [2 Mark] Use the Simple Exponential Smoothing to determine what the forecasts would have been for the last year. (Let the initial estimate of level = 25 and smoothing constant  = 0.1) and error using MAD method. c. [1 Mark] Draw the graph plotting the actual sales, Moving Average and the Simple Exponential Smoothing results in one plot. Month January February March April May June Sales 23 24 22 28 22 27 Month July August September October November December Sales 20 26 21 29 23 28 ANSWER: Q2 Tamama Supermarket purchases milks from three different suppliers, namely Nade, Sada and Marae. The following table shows the unit price and the average demand of each type of milk per year. A fixed transportation cost of SAR 100 is incurred each time an order is delivered. For each type of milk ordered and delivered, an additional fixed product specific order cost is incurred for receiving and storage. The product specific order cost is also shown in the following table. (Interest rate is 15% and 1 year = 52 weeks.) Milk Nade Sada Marae Unit price (SAR) 6 5 6 Demand (units per year) 7,500 4,000 1500 Product-specific order cost (SAR) 10 10 10 Determine the annual cost when Tamama uses the strategy to deliver the milks: a. [2 Marks] independently, i.e. each type of milk is ordered independently of the others. b. [2 Marks] jointly, i.e. all three types of milk are included each time an order is placed. c. [1 Mark] Which strategy is recommended? ANSWER: ...
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