Question: what is the forecast for the 3rd & 4th quarter? The 3rd quarter is wrong. You should be using the following steps to arrive at

what is the forecast for the 3rd & 4th quarter? The 3rd quarter is wrong.
what is the forecast for the 3rd & 4th quarter?
what is the forecast for the 3rd & 4th quarter?
You should be using the following steps to arrive at your answers for the quarterly forecasts: 1) For each year, calculate the average demand per season (period) by dividing annual demand by the number of seasons (periods) per year. 2) For each year, divide the actual demand for a season (period) by the average demand per season (period). The result is a seasonal index for each season (period) in the year. 3) Calculate the average seasonal (period) index for each season (period) using the results from step 2. Add the seasonal (period) indices for a season and divide by the number of years of data. 4) Calculate each season's (period's) forecast for next year by taking the annual demand for the next year, dividing it by the number of seasons (periods), and multiplying the result by the appropriate seasonal (period) index found in step 3. The manager of Alaina's Garden Center must make the annual purchasing plans for rakes, gloves, and other gardening items. One of the items the company stocks is Fast-Grow, a liquid fertilizer. The sales of this item are seasonal, with peaks in the spring, summer, and fall months. Quarterly demand (in cases) for the past two years is as follows: If the expected sales for Fast-Grow are 1,276 cases for year 3 , use the multiplicative seasonal method to prepare a forecast for each quarter of the year. (Round all intermediate calculations to three decimal places.) The first quarter forecast is cases. (Enter your response rounded to the nearest whole number.) The second quarter forecast is cases. (Enter your response rounded to the nearest whole number.) The third quarter forecast is cases. (Enter your response rounded to the nearest whole number.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!