Question: Prepare a weekly forecast for the next four weeks for each product. Briefly explain why you chose the methods you used. (Hint: For product 2,
- Prepare a weekly forecast for the next four weeks for each product. Briefly explain why you chose the methods you used. (Hint: For product 2, a simple approach, possibly some sort of naive/ intuitive approach, would be preferable to a technical approach in view of the managers disdain of more technical methods.)
- Compute the multifactor productivity measure for each of the weeks show What do the productivity suggest? Assume 45 hour weeks and the hourly wage of $15. Overhead is 2.5 times the weekly labor cost. Material cost is 7 dollars per kilogram
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Week Output (units) Workers Material (Kg)
1 32, 000 7 470
2 34, 600 8 510
3 36, 200 8 480
4 37, 400 9 490
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