Case Study - Forecasting for Stocks (10 marks).

Please I need correct answer based on the case study below strictly using the 2 quantitative methods for this assignment and reference is given. The assignment is due in few hours.

Will Smith has a vegetable stall in one of Fiji's renowned Marketing mall. His business has been plagued with under-stocking and over-stocking problems for some time now. When he under-stocks, he loses sales as customers move to competing stalls. When he over-stocks, he is left with unsold vegetables. These are perishable and cannot be kept long for later sales. Smith is concerned with how he can minimize these losses stemming from under and over-stocking.

Note: 2 Quantitative Forecasting methods involved for the above case study are:

• Casual Model such as Linear Regression
• Time Series Model such as Nave Method & Trend Analysis

REQUIRED:

1. Using the 2 quantitative forecasting methods (Casual Model and Time series Model), how he can improve his stocking?
2. Justify the 2 models by linking it to the business being discussed in the case study strictly

Reference is : Chapter 4: Heizer, J., and Render, B., Munson, C. (2017). Operations Management: Global Edition (12th Ed.). New Jersey: Pearson.