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Several data analysis tools are including in linear programming, time series forecasting and cost profit value analysis. We will use the time series forecasting to
Several data analysis tools are including in linear programming, time series forecasting and cost profit value analysis. We will use the time series forecasting to help calculate the price of seeds, the price of oil, and the price for by-product mash. The three-year-moving average method will be used to find the forecasting costs. First, we need to solve for the amount of seed required from each supplier, to meet our requirement, for the lowest price. By utilizing the excel problem solver, we find the answer. Then we determine the 3-period moving average. After that, we find the cost of the seed by multiplying the forecasted price by the percentage bought from each supplier. We then find the total revenue by multiplying the forecasted price of the oil and the mash by the respective percentages produced. Then to find the net revenue, we subtract the cost of the seed, the fixed cost and the variable cost, and subtract it from the gross revenue
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