Question
Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. The managers are conducting an inventory control study
Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. The managers are conducting an inventory control study of all their items. The following data are for one such item, which is not seasonal.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
Sales | 51 | 55 | 54 | 57 | 50 | 68 | 66 | 59 | 67 | 69 | 75 | 73 |
a. Use a trend projection to estimate the relationship between time and sales (state the equation) [ Select ] ["y= 48.32 + 2.105(x)", "y=2.105 + 48.32(x)", "y=35.56 + 1.780(x)", "y=1.67 + 45.89(x)"]
b. What is the forecast for next January? [ Select ] ["75.68", "23.59", "65.23", "70.45", "68.56"]
c. What is the forecast for next April? [ Select ] ["81.99", "85.01", "92.00", "85.23", "90.45"]
d. What is the MAD for this forecast? [ Select ] ["2.81", "3.52", "7.05", "2.29", "3.12"]
e. What is the Correlation Coefficient? [ Select ] ["87%", "67%", "10%", "73%", "13%"]
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