Question: 1a. The forecasting process involves much more than just estimating future demand. Explain the THREE major types of forecasts. (6 marks) 1b. BeBe Beauty Salons
1a. The forecasting process involves much more than just estimating future demand. Explain the THREE major types of forecasts. (6 marks) 1b. BeBe Beauty Salons records during the last five weeks show the number of job orders:
| Week | 1 | 2 | 3 | 4 | 5 |
| Requests | 20 | 22 | 18 | 21 | 22 |
Predict the number of orders for week 6 using the following methods: (show calculations clearly) i. Nave (1 mark) ii. A four-period moving average (2 marks) iii.Exponential smoothing with alpha = 0.30. Use 20 for week 2 forecast. (4 marks) iv. Weighted moving average with weights of 0.5, 0.4 and 0.1 (3 marks) 1c. Discuss the effect of the basic production environments - make-to-stock, make-to-order, and assemble-to-order - on the design of the Master Production Scheduling (MPS) system. (9 marks
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