Question 2 - Rohe (Hong Kong) Ltd is a pharmaceutical company which manufactures and supplies various drugs for drug stores in Asia. Currently, Rohe (Hong Kong) Ltd has four factories A, B, C and D. Management has decided to build a new factory at a location central to these factories. Information regarding the yearly demands and the map coordinates for the four factories are shown in below table. - Factories e Demand e x-coorde A y-coorde 9,000- 3,000e 5,000- 20 130- 60 40 100 30 Ce 70 De 16,000 90e (a) Determine the map coordinates of the new factory. (b) Suggest and elaborate TWO other factors that need to consider in the selection of location.

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Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.