Bill's Bookstore is tracking its monthly demand for textbooks and has seen the followingdemand pattern.MONTHFORECASTED DEMANDACTUAL DEMANDApril150165May220210June215200July245250August205225The bookstore has decided to use a three-month weighted moving average to forecastdemand. What would be September's forecast if the weights 0.50, 0.30, 0.20 with the higherweights going to the most recent data?

Given, Actual demands for the past three months: June = 200, July = 250, August = 225.Weight for…

Answered: Bill's Bookstore is tracking its…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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5. Exercise 5.5 A firm experienced the demand shown in the following table. Fill in the table by preparing forecasts based on a five-year moving average, a three-year moving average, and exponential smoothing (w = 0.9 forecasts may be begun by assuming Y t+ F Yt •) and w = 0.3 ). (Note: The exponential smoothing Moving Average Actual Demand (5-year) (3-year) Exponential Smoothing (W = 0.9) Year (W = 0.3) 2000 900 2001 885 900 900 2002 875 2003 870 887 ▼ 2004 870 877 ▼ 2005 875 880 872 Y 2006 885 875 872 2007 900 875 877 2008 920 880 887 - 2009 945 890 902 Y 2010 905 922 The following table shows the square errors, (Y; - T1-) , for forecasts from 2005 through 2009. Fill the table by calculating the root mean square error (RMSE) for each of the methods. Square Error Exponential Smoothing Moving Average Year (5-year) (3-year) (W = 0.9) (W = 0.3) 2005 25 9 25 25 2006 100 169 100 36 2007 625 529 256 361 2008 1,600 1,089 484 1,089 2009 3,025 1,849 729 2,304 RMSE Based on the RMSE criterion,…
The demand equation for a popular brand of fruit drink is given by the equation Qx=10-5Px+0.00I +10Py where Qx=monthly consumption per family in gallons Px=price per gallon of the fruit drink=GHC2.00 I=median annual family income=GHC20,000 Py=price per gallon of a competing brand of fruit drink=GHC2.5 a.Interpret the parameter estimates b.At the stated values of the explanatory variables,calculate the monthly consumption(gallons)of the fruit drink c.suppose that median annual family income increased to GHC30,000.How does this change your answer to part b?
The Wall Street Journal’s website, www.wsj.com, reported the number of cars and light-duty trucks sold through October of 2014 and October of 2015. The top sixteen manufacturers are listed here. The sales information for all manufacturers can be accessed in a data file below. Sales data are often reported in this way to compare current sales to last year’s sales. Year-to-Date Sales Manufacturer Through October 2015 Through October 2014 General Motors Corp. 2,562,840 2,434,707 Ford Motor Company 2,178,587 2,065,612 Toyota Motor Sales USA Inc. 2,071,446 1,975,368 Chrysler 1,814,268 1,687,313 American Honda Motor Co Inc. 1,320,217 1,281,777 Nissan North America Inc. 1,238,535 1,166,389 Hyundai Motor America 638,195 607,539 Kia Motors America Inc. 526,024 489,711 Subaru of America Inc. 480,331 418,497 Volkswagen of America Inc. 294,602 301,187 Mercedes-Benz 301,915 281,728 BMW of North America Inc.…
George Kyparisis owns a company that manufactures sailboats. Actual demand for George's sailboats during each of the past four seasons was as follows: Year D Season Winter Spring Summer Fall 1 1,440 1,500 1,040 680 2 1,280 1,440 2,120 810 3 1,080 1,600 2,040 670 4 960 1,580 1,900 500 George has forecasted that annual demand for his sailboats in year 5 will equal 6,500 sailboats. Based on the given data and using the seasonal model, the demand level for George's sailboats in the spring of year 5 will be 1937 sailboats (enter your final answer as a whole number and round all intermediate calculations to two decimal places).
Compute to three decimal places. (See attached) Initial values are: PX = $9500 PY = $10000 I = $15000 A = $170000 W = 160 This function is: Qs = 89830 -40PS +20PX +15PY +2I +.001A +10W
The table below shows part of the aggregate demand schedule for smart phones in the country of Afluentia: Quantity demanded Price P QD $900 10,000 $700 14,000 i. Plot the demand curve for smart phones in Afluentia. Assume demand is linear. Calculate the price elasticity of demand when the price increases from $700 to $900 using the midpoint method. Make your calculations explicit. ii. All else being the same, what is Afluentia's total expenditure on smart phones when the price is $700? And when the price is $900? All else being the same, should Afluentia's suppliers charge $700 or $900 for a smart phone? Why? Explain briefly; show graphically and make your calculations explicit. iii. Now suppose younger people start also buying smart phones in Afluentia. This means 1,000 more smart phones are bought at any given price. As price increases from $700 to $900, is the price elasticity of aggregate demand now greater than, less than, or the same as it was in part (i)? Why? Explain briefly.…
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
If we have a cross-price elasticity of demand of CeD +7.5, which combination of products would best fit with this value? (a) Cabbages and cauliflowers (b) iPhone and iPhone charger (c) Washing powder (for clothes) and washing up liquid (for crockery/cutlery) (d) A chicken microwave meal and a vegetarian microwave meal
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How Regression models are used for Forecasting purpose?
Other Companies (Part 2) You directed your research department to do some research on the demand for Tesla sedans. They selected BMW i3 Sedans and Chevy Bolts as comparative offerings. Using regression analysis, the research department comes up the following estimate for yearly demand. Qx = -40,000 -1*Px +0.02*M +2*PB +2*PC Where: Px = $70,000, M = $150,000, PB = $65,000, PC = $40,000 a. Is the own price elasticity of demand for Tesla sedans at the point defined above elastic or inelastic? If Mr. Musk decides to raise his prices, what will happen to his revenue. b. PB and PC represent the price for i3 sedans and Bolt sedans respectively. Are these items compliments or substitutes when compared to Teslas? Give evidence to support your answer. c. Is the demand for Tesla sedans elastic or inelastic to price changes of BMW i3 and Bolt at the price points given in the problem? Interpret the result you find and explain what it means.
During a recent 30-day period, the Squish restaurant sold 600 Ocean Delights at a price of $6.45. During the next 30-day period, the price was increased to $6.95, and 400 Ocean Delights were sold. Calculate the price elasticity of demand, and indicate if demand is elastic or inelastic multiple question 1, elastic 4.125, elastic 4.125, inelastic 1, inelastic

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