(a) Determine the required order quantity for the demand period given the time between orders and shipment lead time. (b) If the current stock is 298, and we are about to place an order, how much do we order? (20+5=25 points) #6. Consider the case of a perishable product. The demand is normally distributed with a mean of 188 and standard deviation of 48. The cost of procurement is $28 and the sale price is determined using a 60% markup on cost; unsold units are resold at a salvage value of $10. What is the optimal order quantity? (20 points) For the forecasting questions that follow from #7 and onwards, you may submit your Excel file; your Excel file should have ALL functions that you used, and I should be able to read the function when I hold the cursor on the cell. You may however quote the answer in your answer script, but do not have to show work in writing except through Excel file. #7. Make forecast for period 25 using (1) 4 period weighted moving average with weights. W1 =0.36, W2 = 0.28, w3=0.21, w4 = 0.15; (ii) Exponential smoothing with alpha = 0.14 and F1 = 30; and (ii) 5-period simple moving average. Use the data labelled dataset #1 (10 + 15 +5) #8. Using the data labelled dataset # 2, determine MAPE for the forecast made by the three models that are labelled as model 1, model 2, and model 3; identify the best model on the basis of MAPE. (25 points) #9. Using the data labelled dataset # 3, construct a forecasting model for a THREE seasons product using the method I taught you in class; use dynamic indexing method. (30 points) #10. Given the following seasonal forecasting model for a four-season product, Fid = 58 + 2.8t and seasonal indexes, s1 = 1.4, s2 = 1.15, s3 = 0.85 and 54 =0.6, make a seasonalized forecast for periods 80, 81 and 82. (20 points) (a) Determine the required order quantity for the demand period given the time between orders and shipment lead time. (b) If the current stock is 298, and we are about to place an order, how much do we order? (20+5=25 points) #6. Consider the case of a perishable product. The demand is normally distributed with a mean of 188 and standard deviation of 48. The cost of procurement is $28 and the sale price is determined using a 60% markup on cost; unsold units are resold at a salvage value of $10. What is the optimal order quantity? (20 points) For the forecasting questions that follow from #7 and onwards, you may submit your Excel file; your Excel file should have ALL functions that you used, and I should be able to read the function when I hold the cursor on the cell. You may however quote the answer in your answer script, but do not have to show work in writing except through Excel file. #7. Make forecast for period 25 using (1) 4 period weighted moving average with weights. W1 =0.36, W2 = 0.28, w3=0.21, w4 = 0.15; (ii) Exponential smoothing with alpha = 0.14 and F1 = 30; and (ii) 5-period simple moving average. Use the data labelled dataset #1 (10 + 15 +5) #8. Using the data labelled dataset # 2, determine MAPE for the forecast made by the three models that are labelled as model 1, model 2, and model 3; identify the best model on the basis of MAPE. (25 points) #9. Using the data labelled dataset # 3, construct a forecasting model for a THREE seasons product using the method I taught you in class; use dynamic indexing method. (30 points) #10. Given the following seasonal forecasting model for a four-season product, Fid = 58 + 2.8t and seasonal indexes, s1 = 1.4, s2 = 1.15, s3 = 0.85 and 54 =0.6, make a seasonalized forecast for periods 80, 81 and 82. (20 points)