Instructions: Ratio Analysis Year Sales (Thousands $) HR Demand (# of EEs) ERR 2019 2,800 155 2020 3,050 171 2021 3,195 166 2022 3,300 177 2023 3,500 2024 3,600 2025 3,850 1. Calculate the Employment Requirement Ratio (ERR) for the known years 2019-2022 2. Calculate the forecasted HR Demand for 2023-2025 using the 2022 ERR and the previously provided forecasted sales. 3. The sales team is given new information and asks you to complete another set of projections with a new sales forecast. They would like you to calculate the new set of HR Demand projections using the average ERR for 2019-2022. Year Sales (Thousands $) 2023 3,750 2024 4,200 2025 4,450 Part B: Excel Supply Forecasting Complete the following in an excel file: Data Table: Transition Probability Matrix Start of Year End of Year Job A Job B Job C Job D Exit Job A 80% 10% 5% 0% 5% Job B 10% 70% 0% 10% 10% Job C 0% 0% 90% 5% 5% Job D 0% 0% 0% 90% 10% Plant: Kovu Job Employee Numbers Job A 200 Job B 70 Job C 60 Job D 100 You are provided with the transition probability matrix for all the horse manufacturing plants and their jobs. For ease of calculations, the jobs are coded as follows: Job A = Industrial Tailor; Job B = General Laborer and Packaging; Job C = Site Supervisors; and Job D = Site Cleaner and Maintenance. 1. For employee data provided for Plant Kovu, forecast the supply for Job A, B, C, and D at year end. Plant: Kiara Job Employee Numbers Job A 1,478 Job B 886 Job C 592 Job D 1,017 2. Management also provides you with the employee data for Plant Kiara. Using the same transition probability matrix, forecast the supply for Jobs A, B, C and D at year end in the second plant as well. Part C: Analysing the Data Complete the following in a word file: 1. Nala Co. decided to use a quantitative method for forecasting demand. Do you agree with that decision? Why? Your answer should include a comparison between quantitative and qualitative methods. 2. What conclusions can you draw from both demand analysis that were conducted? 3. What is the Markov Analysis telling you in terms of supply for plant Kovu and Kiara? Are there any areas of concern? What are the external hiring needs?