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Question $1$

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Picasso Stores in Palatine, IL sells various art supplies. Their sales of aluminum panels, which are used for mounting fine art and photographs, for $2021$ are shown below. What is the forecast for the demand of the aluminum panels for Jan $2022$ using four$-$month moving average method?

Question $1$Answer

a$.$

$200$

b$.$

$295$

c$.$

$316\mathrm{.}25$

d$.$

$340\mathrm{.}85$

e$.$

$374\mathrm{.}5$

Question $2$

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Picasso Stores in Palatine, IL sells various art supplies. Their sales of aluminum panels, which are used for mounting fine art and photographs, for $2021$ are shown below. A linear trend time series model Y $=299\mathrm{.}50+3\mathrm{.}182$t was developed from the $12-$month data. What is the forecast for the demand of aluminum panels for Feb $2022$ using the linear trend model?

Question $2$Answer

a$.$

$200$

b$.$

$295$

c$.$

$316\mathrm{.}25$

d$.$

$344\mathrm{.}05$

e$.$

$374\mathrm{.}5$

Question $3$

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Rex Reynolds of Rexford Rehearsals asked his forecaster to check the seasonal influence of certain dress items that they make in Rexford, Rhode Island. His forecaster Ray Redmond got the following data from their IT department. A linear time series model was developed from the actual data as Y $=311\mathrm{.}21+3\mathrm{.}916$t$.$ What is the trend forecast $($not adjusted for seasonality$)$ for the second quarter of $2023?$

Question $3$Answer

a$.$

$110\mathrm{.}6$

b$.$

$373\mathrm{.}87$

c$.$

$366\mathrm{.}03$

d$.$

$369\mathrm{.}95$

e$.$

$362\mathrm{.}12$

Question $4$

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Picasso Stores in Palatine, IL sells various art supplies. Their actual sales of aluminum panels, which are used for mounting fine art and photographs, for $2021$ are shown below. Also shown are the monthly forecasts for the panels during the same period. Which of the following statements is not correct?

Question $4$Answer

a$.$

The forecast error for January $2021$ is one panel.

b$.$

The forecasted demand for June $2021$ exceeded the actual demand

c$.$

The actual demand for July was higher than the forecast

d$.$

In December $2021,$ Picasso Stores run short of aluminum panels if they stocked based on the forecasted demand

e$.$

All of the above are correct statements