Question: Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell is the

Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell is the €œFast Current€ sea touring kayak paddle ). You are responsible for ensuring that there is enough production capacity to meet demands (given the very high markup on the paddles).

a. Given the data shown above, beginning in Quarter 1 of year 2, use a moving average based on four quarters to predict the demand in each quarter.
b. Using the same data, forecast demand using exponential smoothing. You are given an initial forecast for year 1, quarter 1 of 17. When generating your forecasts, assume that the smoothing coefficient is 0.10.
c. Which of the forecasting procedures performed the best? Why? Hint: Plot the demand data to better understand what is going on in the data.

Year Quarter Demand Year Quarter Demand Year 1 18 19 18 17 19Year 6Q1 Year 5 42 38 59 58 60 61 62 62 64 65 Q2 Q3 Q4 Q2 Q3 Q4 ear 2 Q221 Q2 18 Q4 19 Q1 20 Year7Q1 Q2 24 Q3 Q4 32 Q1 30 Year 8 Q2 31 Q3 Q4 40 ear Q2 Q3 Q4 28 68 69 68 67 68 ear Q2 Q3 Q4 34

Step by Step Solution

★★★★★

3.35 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Comparing the 4quarter moving average to the exponential smoothing model with an alpha value of 01 s... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

434-B-M-L-S-C-M (2448).docx

120 KBs Word File

Students Have Also Explored These Related Management Leadership Questions!

Assume that you are the production manager of a small branch plant of a large manufacturing firm. The central accounting control department sends you monthly performance reports showing the flexed...

Current Ratio Loan Provision Assume that you are the controller of a small, growing sporting goods company. The prospects for your firm in the future are quite good, but like many other firms, it has...

For the following independent situations, assume that you are the audit partner on the engagement: 1. During your audit of Raceway.com, Inc., you conclude that there is a possibility that inventory...

Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell is the ?Fast Current? sea touring kayak paddle ). You are...

will give thumbs up Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell is the "Fast Current' sea touring kayak paddle....

Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell is the "Fast Current" sea touring kayak paddle. You are responsible...

b. Using the same data, forecast demand using exponential smoothing. You are given an initial forecast for year 1, quarter 1 of 17. When generating your forecasts, assume that the smoothing...

Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell is the Fast Current sea touring kayak paddle. You are responsible...

This is all for one question. Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell is the "Fast Current" sea touring...

one question please help with all parts Assume that you are the production manager for Fast Current Kayaks of Washington State. One of the products that you make and sell Is the "Fast Current' sea...

3. If the statement is always true, circle True. If the statement is sometimes false, circle False. In each case, write a careful and clear justification or counterexample. (a) The determinant of the...

The following data is from a shipping company that needs to find the optimal way to meet the demand of three distribution centers from three warehouse locations where goods are stored. Use the two...

1 . Problems 1 and 2 above identified instances of ineffective operation of key controls in the revenue cycle. How would these identified control deficiencies affect the nature, timing, and extent of...

How do different depreciation schedules (accelerated versus straight-line) affect EVA?

The Bassone Boat Company manufactures the Water Wiz bass fishing boat. The company purchases the engines it installs in its boats from the Mar-gine Company that specializes in marine engines. Bassone...

Far North Outfitters is a retail phone-catalogue company that specializes in outdoor clothing and equipment. A phone station at the company will be staffed with either full-time operators or...

Eyewitness News is shown on channel 5 Monday through Friday evenings from 5:00 P.M to 6:00 P.M. During the hour-long broadcast, 18 minutes are allocated to commercials. The remaining 42 minutes of...

Please see attached In the 1992 presidential election, Alaska's 40 election districts averaged 2157 votes per district for President Clinton. The standard deviation was 573. (There are only 40...

In details please and organized By Hand and Tables questions 10-15 These questions will require a bit of work to be shown. Maybe even algebra. (If needed you can use the 1-Var Stats button on the TI...

What is the result if the amount of net income for the year is less than the amount of dividends paid? A The amount of the cash account increases B The retained earnings account decreases C The...