2. Block Commodities has gathered the following information concerning rock salt deliveries (tons)to its clients, which it believes are highly seasonal:MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustYear 1 Year 27634483465339819720110170754835222328.145September 181October190November 100December 81Total.910Year 3953412351223510916222011087903 913Year 4117525625110281201451809888920AverageMonthly90.754237.75295.25531118.171.25197.75102.2581.5a. Suppose Block Commodities calculated a set of seasonal relatives to express thismonthly variation in rock salt deliveries, using this set of data. What would the value ofthe seasonal relative for the month of each month?b. Block Commodities believes that this year will be a busy year for rock salt deliveries,forecasting a total of 1,200 tons to be delivered during the year. Using this annualforecast and Block's set of seasonal relatives, what would be a logical forecast for Mayof next year? What would be a logical forecast for October of next year?

The forecast is an estimation of future events so that risk faced by the company will be reduced and…

Answered: 2. Block Commodities has gathered the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Discuss the importance of accurate forecasts in supply chain management.
10.3. The Ashton Furniture Company manufactures coffee tables and chests of drawers. Last year the company’s cost of goods sold was $3,700,000, and it carried inventory of oak, pine, stains, joiners, and brass fixtures, work-in-process of furniture frames, drawers and wood panels, and finished chests and coffee tables. Its average inventory levels for a 52-week business year were as follows: Raw Materials Average Inventory Unit Cost Oak 8000 $6.00 Pine 4500 4.00Brass fixtures 1200 8.00Stains 3000 2.00Joiners 900 1.00 Work-in-Process Frames 200 $30Drawers 400 10Panels 600 50Chests…
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3. Answer the followings. a. Myanmar CP Live Stock Company Limited Shipped Sausage boxes around Myanmar. A manager wants to forecast shipments for the first four months of the next two years by using Linear equation method. The monthly forecast equation being used is: y= 402 + 3x and determine trend amounts for the first four months of the next two year: January, x=24, February, x=25; etc. b. A farm implements dealer is seeking a fourth warehouse location to complement three existing warehouses. There are three potential locations, N.C; Atlanta, Ga.; and Columbia, S.C. Charlotte would involve a fixed cost of $4,000 per month and a variable cost of $4 per unit. Atlanta would involve a fixed cost of $3,500 per month and a variable cost of $5 per unit; and Columbia would involve a fixed cost of $5,000 per month and a variable cost of $6 per unit. Use of the Charlotte location would increase system transportation costs by $19,000 per month. Atlanta by $22,000 per month, and Columbia by…
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