Q 4. (A) The Accuweather Corporation manufactures barometers and thermometers for weather forecasters. In an attempt to forecast its future needs for mercury, Accuweather's chief economist estimated average monthly mercury needs as: N = 500 + 10X where N = monthly mercury needs (units) and X = time period in months (January 2008= 0). The following monthly seasonal adjustment factors have been estimated using data from the past five years: Month January April July September| December |Adjustment Factor 15% 10% 120% 5% 010% |(a) Forecast Accuweather's mercury needs for January, April, July, September, and December of 2010. |(b) The following actual and forecast values of mercury needs in the month of November have been recorded: Year Actual Forecast 2008 456 480 2009 324 360 2007 240 240
Q 4. (A) The Accuweather Corporation manufactures barometers and thermometers for weather forecasters. In an attempt to forecast its future needs for mercury, Accuweather's chief economist estimated average monthly mercury needs as: N = 500 + 10X where N = monthly mercury needs (units) and X = time period in months (January 2008= 0). The following monthly seasonal adjustment factors have been estimated using data from the past five years: Month January April July September| December |Adjustment Factor 15% 10% 120% 5% 010% |(a) Forecast Accuweather's mercury needs for January, April, July, September, and December of 2010. |(b) The following actual and forecast values of mercury needs in the month of November have been recorded: Year Actual Forecast 2008 456 480 2009 324 360 2007 240 240
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Q 4. (A)
The Accuweather Corporation manufactures barometers and
thermometers for weather forecasters. In an attempt to
forecast its future needs for mercury, Accuweather's chief
economist estimated average monthly mercury needs as:
N= 500 + 10X
where N = monthly mercury needs (units) and X = time
period in months (January 2008= 0). The following
monthly seasonal adjustment factors have been estimated
using data from the past five years:
Month
|Adjustment Factor
January
April
July
15%
10%
020%
September|
December
5%
010%
(a) Forecast Accuweather's mercury needs for January, April, July, September, and
December of 2010.
(b) The following actual and forecast values of mercury needs in the month of
November have been recorded:
Year
Actual
Forecast
2008
456
480
2009
324
360
2007
240
240

Transcribed Image Text:Q 4.
Emco Company has an assembly line of fixed size A.
Total output is a function of the number of workers (crew size)
as shown in the following schedule:
(В)
Total Output
(No. of Workers) (No. of Units)
Crew Size
1
10
2
35
3
50
4
56
5
59
6.
60
7
60
8
58
Determine the following schedules:
|(a) Marginal productivity of labor
|(b) Average productivity of labor
(c) Elasticity of production with respect to labor
|(d) Draw and Show relationship MP̟ & APL
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