The Instant Paper Clip Office Supply Company sells and delivers office supplies to companies, schools, and agencies within a 50-mile radius of its warehouse. The office supply business is competitive, and the ability to deliver orders promptly is a big factor in getting new customers and maintaining old ones. The manager of the company wants to be certain that enough drivers and vehicles are available to deliver orders promptly and that they have adequate inventory in stock. Therefore, the manager wants to be able to forecast the demand for deliveries during the next month. From the records of previous orders, management has accumulated the following data for the past 10 months:
Month Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept Oct.
Orders 120 90 100 75 110 50 75 130 110 90
Required:
a. Compute the monthly demand forecast for February through November using the naive method.
b. Compute the monthly demand forecast for April through November using a 3- month moving average.
c. Compute the monthly demand forecast for June through November using a 5- month moving average.
d. Compute the monthly demand forecast for April through November using a 3- month weighted moving average. Use weights of 0. 5, 0. 33, and 0. 17, with the heavier weights on the more recent months.
e. Compute the mean absolute deviation for June through October for each of the methods used. Which method would you use to forecast demand for November?
Answers
To forecast demand for November, the weighted moving average method would be the best choice as it takes into account the most recent data and gives more weight to the most recent months.
This is important as trends and patterns in demand can change over time, and the most recent data is often more reflective of current market conditions.
The mean absolute deviation (MAD) for each method can be calculated by taking the absolute value of the difference between the actual demand and the forecasted demand, then taking the average of these values. The MAD for the 3-month moving average method for June to October is 21.2, while for the 5-month moving average method, it is 17.6. This means that the 5-month moving average method has a lower level of error or deviation from the actual demand.
However, it is important to note that forecasting demand is not an exact science and there will always be some level of error or deviation. The manager should also consider other factors such as seasonality, changes in the market, and any upcoming events or holidays that may affect demand. Regularly reviewing and adjusting the forecasting method based on actual demand and market trends can also help improve the accuracy of the forecast over time.
The manager of Instant Paper Clip Office Supply Company aims to forecast the demand for deliveries during the next month. To do this, we will use the data provided for the past 10 months and calculate the Mean Absolute Deviation (MAD) for June through October using different forecasting methods. MAD helps measure the accuracy of the forecasts by averaging the absolute differences between the actual and predicted values. The method with the lowest MAD would be considered the most accurate for forecasting demand for November.
First, gather the historical data for the past 10 months and use various forecasting methods such as moving average, exponential smoothing, or time-series decomposition. Apply these methods to calculate the predicted demand for June through October.
Next, compute the MAD for each method by following these steps:
1. Calculate the absolute difference between the actual and predicted values for each month (June through October).
2. Sum up these absolute differences.
3. Divide the sum by the number of months (in this case, 5) to obtain the MAD.
Repeat these steps for each forecasting method used. Compare the MAD values and choose the method with the lowest MAD, as it indicates better accuracy in predicting demand.
In conclusion, to forecast demand for November, select the forecasting method with the lowest Mean Absolute Deviation for June through October. This will help the manager of Instant Paper Clip Office Supply Company ensure they have adequate drivers, vehicles, and inventory to meet customer demands and maintain a competitive edge in the office supply business.
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Related Questions
Which post-secondary program requires minimal prerequisites?
Answers
Answer with Explanation:
It depends upon the college or university you choose. If you are choosing a foreign college or university then following are the possible minimal pre-requisites:
Age FactorAttained Marks percentage Language Speaking requirement which includes taking an English speaking, learning and writing test. Examples of approved english skills tests programs are TOEFL, IELTS, etc.Minimum Fee depositCharacter CertificateValid PassportPersonal Information Providing Field oriented report which explains why you want to opt this program.Other requirements depending upon the course, university and law that governs the territory in which the institute operates.Video game designers can do visual design or programming.
A.
True
B.
False
Answers
and ends at (12,5). Another downward sloping line starts at (6,30) and ends at (16,5)) Wallace is analyzing the American moped market for BMW. The main competition, Vespa, dropped their listing price by 20% recently. When creating a demand curve arrows are used to indicate the direction of the demand curve shift. Which is the correct direction the arrows should be drawn for the moped market and which line is the old demand and new demand curve
Answers
The arrows need to be drawn pointing rightwards. The curve on the right tells about the new demand and the curve on the left tells about the old demand. \\
What is demand?A demand curve is known to be a demand schedule that is said to be a table that depicts the quantity demanded of goods at each prices.
Note that a demand curve is said to be a graph that tells the quantity demanded at all price and as such, The arrows need to be drawn pointing rightwards. The curve on the right tells about the new demand and the curve on the left tells about the old demand. \\
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Form _____ is one that other types of businesses, in addition to corporations, would need to fill out.
A.
8050
B.
1120-W
C.
941
D.
1120-S
Answers
Form Option C. 941 is one that other types of businesses, in addition to corporations, would need to fill out.
Form 941 is a tax document that employers use to report income taxes, social security tax, and Medicare tax to the Internal Revenue Service (IRS) on a quarterly basis. It is commonly known as the "Employer's Quarterly Federal Tax Return." In other words, Form 941 is used by most employers to report the taxes they withheld from their employees' wages, tips, and other compensation.
The Form 941 filing schedule is as follows:
Q1 (January-March): Due on April 30Q2 (April-June): Due on July 31Q3 (July-September): Due on October 31Q4 (October-December):
Due on January 31 (of the following year) The amount of taxes that employers are required to report and pay on Form 941 varies depending on the employee's income and employment status. Employers should use the guidelines set out by the IRS to calculate the correct amounts to withhold and report.
Form 941 is used by a variety of employers, including corporations, partnerships, limited liability companies, sole proprietors, and nonprofit organizations. Any employer who pays wages, tips, or other compensation to an employee is required to file Form 941. Therefore, the correct option is C.
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Why postal service is important for business
Answers
Explanation:
It is important for businesses for several reasons:
1 Communication: Postal service is a reliable and affordable way for businesses to communicate with customers and other businesses. It enables businesses to send and receive important documents, such as contracts, invoices, and legal notices, which are necessary for their operations.
2 Marketing: Postal service is an effective tool for businesses to reach out to potential customers and promote their products and services. Direct mail campaigns can target specific audiences and help businesses generate leads and sales.
3 Logistics: Postal service is an essential component of supply chain management. It enables businesses to send and receive goods and materials from suppliers and customers, which is crucial for their operations.
4 E-commerce: Postal service plays a vital role in the growth of e-commerce. It enables businesses to deliver products to customers who shop online, which is becoming an increasingly important part of the retail industry.
5 Accessibility: Postal service is often the most accessible and convenient way for businesses in remote or rural areas to connect with the rest of the world. It provides them with access to markets and customers that would otherwise be difficult to reach.
You deserve some points happy holidays!
Answers
Answer:
Thanks for the points and have an awesome weekend
a fundamental difference between a bia and risk management is that risk management focuses on identifying the threats, vulnerabilities, and attacks to determine which controls can protect the information, while the bia assumes . a. controls have failed
b. All of the above
c. controls have been bypassed
d. controls have proven ineffective
Answers
The fundamental difference between a Business Impact Analysis (BIA) and Risk Management is that Risk Management concentrates on identifying potential risks to information by analyzing threats, vulnerabilities, and possible attacks, whereas BIA assumes that controls have failed.
This means that BIA assumes that a risk or threat has already occurred, and the focus is on understanding the impact on the business and developing strategies for recovery. In contrast, Risk Management focuses on preventing risks and minimizing their impact. BIA helps organizations to prepare for and manage the impact of potential risks that may have a significant impact on the organization's operations, reputation, or finances. Overall, both BIA and Risk Management are critical components of an organization's information security and risk management strategies, and they complement each other to create a robust and comprehensive security posture.
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Holy macaroni! That's Almost It!
We're done with the four habits of millionaires-to-be.
Do you remember what the habits were? Let's see...
Check the sentences that best describe the "Big Four
Habits."
And you'll see this question again in the test
. You're not quite there yet. Try again.
Virtually all of the 7 million millionaires in the United States
never had to think about tomorrow, since they knew they would be
rich.
were always thinking ahead.
wanted their money to work for them.
wanted to store their money under the bed.
were looking forward to buying a lot of nice toys.
assumed all sellers were telling the truth.
learned how to make smart decisions by doing their homework.
always paid their cell phone first.
always paid themselves first.
Answers
Answer:
2,3,7 and the last one
Explanation:
Just had the same question and went back into the lesson to look . THESE TAKE FOREVER HAHA
Seven million millionaires in U.S :
we're always thinking ahead.wanted their money to work for them.learned how to make smart decisions always paid themselves first.Who are millionaires?Millionaires are those individuals who have a net worth that is equal to or are then one million units of currency.
These people include businessmen that have own business and own large amount of shares in other companies. The millionaires networth and financial assets also contribute to the nation's GDP.
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Word of mouth promotion is also known as what?
Answers
Answer:
Word-of-mouth advertising (WOM advertising), also called word of mouth marketing, is the process of actively influencing and encouraging organic word of mouth discussion about a brand, organization, resource, or event.
Explanation:
hope this helps, pls mark brainliest :D
Word-of-mouth advertising is another name for viral marketing.
What is Word-of-mouth promotion?The technique of deliberately influencing and supporting organic word-of-mouth talk about a brand, organization, resource, or event is known as word-of-mouth advertising (WOM advertising), sometimes known as word-of-mouth marketing.
A corporation can reach new audiences and establish a solid brand reputation by using word-of-mouth marketing. Businesses can enhance profitability, draw in new clients, and strengthen their bonds with current consumers by utilizing this distinctive and natural kind of marketing.
The type of rewards utilized has a significant impact on the effectiveness of word-of-mouth marketing. The employment of incorrect incentives to encourage customers or representatives to spread good word of mouth about goods or brands can have negative effects on a business, according to research.
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The greater the risk associated with an investment, the greater is its _____. book value market appeal expected return price
Answers
Answer:
expected return
Explanation:
Which of the following is most likely to create a long-term trend?
A. Fashion
B. Entertainment
C. Television shows
D. Demographics
Answers
Demographics is most likely to create a long-term trend. Demographics is the study of the characteristics of human populations, such as age, sex, education, income, and race. The correct answer is option D.
These factors have a significant impact on consumer behavior, and thus, they can create long-term trends in the marketplace. As people age, their preferences change, and they tend to consume different products and services. For example, as the baby boomer generation has aged, there has been a trend towards products and services that cater to their needs, such as retirement communities, healthcare, and leisure activities.
Additionally, changes in education, income, and race can create new trends in consumer behavior. For example, if there is an increase in the number of people with higher education degrees, this could lead to a trend towards products and services that cater to their needs, such as high-tech gadgets, gourmet foods, and luxury vacations. Therefore, demographics is most likely to create a long-term trend. The correct answer is option D.
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Direction: Write HURRAY to statements that expresses correct thought and HEPHEP if not.
1. Production record reflects the list of the different crops grown in the farm in a particular year.
2. The use of flyer for marketing fruits and seedlings is convenient and cheap.
3. Web marketing involves both advertising and marketing efforts through email to current and prospective customers.
4. Email marketing includes e-commerce, promotional or informative websites, and online advertising on search engines.
5. Online marketing is the process of selling products to the market.
6. Social media marketing involves both advertising and marketing efforts via social networking sites.
7. Fruits are ready for harvest at the right degree of maturity.
8. Calamansi is best to harvest from July to October.
9. Cash record is the value received from cash sales and cash payments in a certain period.
10. August to November is the best time of the year to harvest soursop or guyabano and lanzones.
Answers
Answer:
1.hephep
2.hephep
3.hurray
4.hephep
5.hurray
6.hurray
7.hurray
8.hephep
9.hephep
10.hurray
hope its help
#carry on learning
What do you think are the most important components of budgeting? Why?
Answers
Answer:
I would have to say figuring out ur cash flow where its going after u earn it and making sure u keep track of ur savings
Explanation:
You hold currency from a foreign country. If that country has a higher rate of inflation than the United States, then over time the foreign currency will buy a. more goods in that country and buy more dollars. b. more goods in that country but buy fewer dollars. c. fewer goods in that country but buy more dollars. d. fewer goods in that country and buy fewer dollars.
Answers
Answer:
d. fewer goods in that country and buy fewer dollars.
Explanation:
In the case when the currency is hold from the foreign country and if the country contains the high inflation rate as compared with the united states so here the less goods in that country should be purchased at less dollars that means it shows the positive relationship between the goods and the dollars value
Therefore as per the given situation, the option d is correct
The difference between what the total sales should have been, given the actual level of activity for the period, and the actual total sales is a(n):__________
Answers
The difference between what the total sales should have been, given the actual level of activity for the period, and the actual total sales is a: Variance.
What is a variance?Variance refers to the difference between the expected sales realizations and the actual sales results. This is often common in business as businessmen tend to make projections for the future.
Sometimes the reality is far from what they believed will happen and this is what is referred to as variance. Variance also occurs in different life activities. Sometimes, individual projections are not realized and this is what is known as a variance.
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which of the following are theft act investigative methods that usually involve observing or listening to potential perpetrators? a. online resources b. surveillance and covert operations c. audits d. document examination
Answers
The correct answer is b. surveillance and covert operations are theft act investigative methods that usually involve observing or listening to potential perpetrators.
Surveillance and covert operations are theft act investigative methods that usually involve observing or listening to potential perpetrators. This involves monitoring the activities of individuals or groups suspected of committing theft or other criminal acts. It may include the use of video cameras, audio recording devices, and other surveillance tools to collect evidence and gather intelligence.
Covert operations may also involve undercover agents or informants who infiltrate criminal organizations to gather information and assist in investigations.
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Job #4260 consisted of 1,000 units at a total cost of $200,000. The cost transferred to cost of goods sold for the sale of 600 of the units is ______.
Answers
Explanation:
job #4260 consisted of 1,000 units at a total cost of $200,000. The cost transferred to cost of goods sold for the sale of 600 of the units is:
total cost / units x sale of units
200,000 / 1,000 x 600
= 120,000
The cost transferred to cost of goods sold for the sale of 600 of the units is 120,000. Frequently, market analysts use models with two sources of info: actual capital, with amount K and work, with amount L.
What is Total cost?In financial matters, total cost (TC) is the base dollar cost of creating some amount of result.
This is the total monetary cost of creation and is comprised of variable cost, which changes as indicated by the amount of a decent delivered and incorporates information sources like work and natural substances.
Work #4260 comprised of 1,000 units at a total cost of $200,000. The cost moved to cost of products sold for the offer of 600 of the units is
Total cost / units x sale of units
200,000 / 1,000 x 600
= 120,000
The negligible cost can likewise be determined by tracking down the subordinate of total cost or variable cost. Both of these subsidiaries work in light of the fact that the total cost incorporates variable cost and fixed cost, yet fixed cost is a consistent with a subsidiary of 0.
The total cost of delivering a particular degree of result is the cost of the multitude of variables of creation. Total cost in financial matters incorporates the total open door cost (benefits got from the following best other option) of each element of creation as a feature of its fixed or variable costs.
Therefore The extra total cost of one extra unit of creation is called minor cost.
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8. One of Hope's coworkers quits, and during the next pay period Hope works 60 hours instead of 40 to help cover
the shifts. Which of Hope's deductions will definitely change as a result?
a. Her Federal tax
b. Her health
C. Her dental
d. Her retirement
Answers
Answer:
A
Explanation:
Federal income taxes are simply known to be collected by the federal government to pay their bills
State taxes are often collected by individual state governments to pay their specific state bills.
Income tax are simply regarded as Taxes on income, both earned in salaries, wages, tips, commissions and also those unearned in form of interest and dividends.
Conclusively, Income taxes can be levied on both individuals and businesses.
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a trade discount is multiple choice question. a rebate from the manufacturer. a percentage reduction of the amount due for early payment. a reduction from list price. an increase in the account receivable.
Answers
Option (c), A percentage off the list price is what is known as a trade discount.
What alternative names are there for trading discounts?Trade discounts are often referred to as functional discounts. Simply explained, a trade discount is a discount offered by the seller to the buyer while goods are being purchased. It is taken into account by lowering the list price or retail price for the quantity sold.
What sets a trade discount apart from a monetary one?Trade discount is put into effect after a buyer submits a buy order. A cash discount is put into effect when the customer begins the payment process. The trade discount is not recorded since it is taken out of the total amount owed after subtracting it from the invoice.
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Kirkland Theater sells season tickets for six events at a price of $240. In pricing the tickets, the planners assigned the leadoff event a value of $60 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,800 season tickets were sold for the 2016 season. Required: a. Calculate the theater's earned revenue after the first three events have been presented
Answers
The theater's earned revenue after the first three events have been presented is $216,000.
Earned income is money that is received in exchange for an item or service that is of similar worth or more. This includes, but is not limited to, the sale of artwork, the selling of tickets, advertising, the payment of services or employment, the cost of classes, camps, or workshops, and the cost of goods.
To calculate the earned revenue after the first three events have been presented, we need to find out how much money was earned from these three events. If each of the last five events was priced equally, each event was priced at $240 / 6 = $40.
So, the earned revenue from the first three events was $40 * 3 = $120.
Therefore, the theater's earned revenue after the first three events have been presented is $120 * 1,800 = $216,000.
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broker evans fired sally because she was stealing from the petty cash fund. evans told her that he would not return her license until the money had been repaid. but, sally is innocent! she started looking for new firms after the accusations were made, but can't transfer until her license is returned to the board. what can sally do to force evans to return the license to the board? select one: a. do nothing until the matter is legally resolved b. file a complaint with the local realtors' association c. file a complaint with the real estate board d. sue evans in the local court
Answers
Sally should file a complaint with the real estate board to force Evans to return her license. (C)
This is the most appropriate and effective way to resolve the issue since the board has the power to investigate and take action against Evans if he is found guilty of withholding Sally's license without justification.
Filing a complaint with the local realtors' association may not be enough to resolve the matter, and suing Evans in the local court can be time-consuming and costly. It is important for Sally to act promptly and follow the proper channels to protect her rights as a licensed real estate broker.
By filing a complaint with the real estate board, Sally can also clear her name and prove her innocence, which can help her secure a new position with another firm.(C)
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Mark and Addison formed a partnership. Mark received a 25% interest in partnership capital and profits in exchange for land with a basis of $40,000 and a fair market value of $60,000. Addison received a 75% interest in partnership capital and profits in exchange for $180,000 of cash. Three years after the contribution date, the land contributed by Mark is sold by the partnership to a third party for $76,000. How much taxable gain will Mark recognize from the sale
Answers
Answer:
$24,000
Explanation:
Calculation to determine How much taxable gain will Mark recognize from the sale
Mark allocated precontribution gain $20,000
($40,000-$60,000)
Add Post contribution gain $4,000
($60,000-$76,000*25%]
Taxable gain $24,000
($20,000+$4,000)
Therefore How much taxable gain will Mark recognize from the sale is $24,000
how many tines in earth does the sun intersect equartor
Answers
Answer:
два
Explanation:
northrup grumman saved $2 million in energy costs at a single facility by installing reflective roofs and fluorescent lighting, replacing old equipment, and making minor temperature and humidity-level adjustments. this is an example of the benefit of group of answer choices increasing revenue efforts. marketing programs. sustainability efforts. process management.
Answers
Option (c), By constructing reflecting roofs, fluorescent lighting, upgrading outdated equipment, and making modest temperature and humidity-level modifications, Northrup Grumman was able to save $2 million in energy costs at a single location. This is an illustration of how sustainability efforts are advantageous.
What do initiatives for corporate sustainability involve?In the business world, sustainability refers to a company's strategy to reduce the negative environmental effects of its operations in a particular market. ESG measures, also known as environmental, social, and governance metrics, are widely used to assess a company's sustainability initiatives.
Increasing our standard of living while preserving the environment and our natural resources for future generations is possible through sustainable living. Sustainability in the business world is related to an organization's comprehensive strategy that takes into account it all from customer support to manufacturing and logistics.
Sustainable resource management aims to preserve the stability and balance of the natural system. Experts have come to the conclusion that economic, social, and environmental protection are crucial for sustainable development as more research has been done in this area.
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Match each effect with the correct type of trade barrier
A. Standards
B. Quotas
C. Embargoes
A. Restrict exports entirely and can be used as punishment
B. Place limits on imports and can drive up prices
C. Enforce rules to uphold quality and are intended to protect consumers
Answers
Answer: i got you
Explanation:
standards= C
Quotas= B
Embargoes= A
Trade Barrier although it affects "free trade" is not a negative term. The Correct match of given options are A - C, B - B, C- A.
Trade Barrier
For a Nation, the concept of "Free Trade" is not altogether positive as it can sometime affects their domestic industries which are not capable to compete big companies. To overcome this issue "Trade Barrier" is used, apart from economic reason, it can also be used for political reasons.
In the following question we have to match different types of trade barrier with their definition. Here are the correct match:-
A. Standard - C. Enforce rules to uphold quality and are intended to protect consumers.
B. Quotas - B. Place limits on imports and can drive up prices
C. Embargoes - A. Restrict exports entirely and can be used as punishment.
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Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called Group of answer choices auditing. economics. finance. accounting.
Answers
Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting.
Accounting is a fundamental process in business and financial management. It involves systematically recording financial transactions, classifying them into appropriate categories, and summarizing the information to create financial statements such as the income statement, balance sheet, and cash flow statement. These financial statements provide a snapshot of a company's financial performance, position, and cash flows, enabling decision-makers to analyze and make informed decisions about the organization's operations, investments, and financial strategies.
While auditing, economics, and finance are related disciplines, each has its own distinct focus. Auditing involves examining and evaluating financial records and statements to ensure accuracy, compliance, and reliability. Economics studies the production, distribution, and consumption of goods and services within an economy. Finance, on the other hand, focuses on managing financial resources, investments, and the financial aspects of decision making. However, accounting serves as the foundation for providing the necessary financial information in these areas.
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the advantages of using the departmental overhead rate method and the plantwide overhead method include all of the following: Both methods are consistent with GAAP.Both methods are based on readily available information.Both methods are easy to implement.
Answers
The departmental overhead rate method and the plantwide overhead method are both popular methods for allocating overhead costs to products or services.
One advantage of using these methods is that they are consistent with Generally Accepted Accounting Principles (GAAP), ensuring that financial statements are accurate and reliable.
Another advantage is that both methods are based on readily available information, such as departmental or plantwide overhead costs and activity levels, which makes them easy to calculate.
Additionally, both methods are relatively simple to implement, making them accessible to small and large businesses alike.
Overall, these advantages make the departmental overhead rate method and the plantwide overhead method attractive options for companies looking to allocate overhead costs efficiently and accurately.
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total assets of $143,236,000, total common stock of $32,695,000, cash of $15,830,000, and retained earnings of $16.323,000. what were andrew's total liabilities at the end of july?
Answers
Andrew's total liabilities at the end of July were $94,218,000.
To calculate Andrew's total liabilities, we need to subtract the total stockholders' equity from the total assets. In this case:
Total Assets = $143,236,000
Total Common Stock = $32,695,000
Retained Earnings = $16,323,000
Total Stockholders' Equity = Total Common Stock + Retained Earnings
Total Stockholders' Equity = $32,695,000 + $16,323,000
Total Stockholders' Equity = $49,018,000
Now, we can calculate Andrew's total liabilities:
Total Liabilities = Total Assets - Total Stockholders' Equity
Total Liabilities = $143,236,000 - $49,018,000
Total Liabilities = $94,218,000
Therefore, Andrew's total liabilities at the end of July were $94,218,000.
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what are the disadvantage of credit card
Answers
Answer: you don’t see your own money.
Explanation:
Which of the following does NOT explain why many people are not living on a budget?
People do not balance their checkbook on a monthly basis.
People find spending money a hobby and form of entertainment.
Or government is not modeling good budgeting skills.
People are unable to earn enough money to meet their financial obligations.
Answers
Answer:
People do not balance their checkbook on a monthly basis.
Explanation:
I just took the test