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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% -20% 5% -10% (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 2008 2009 2007 Actual 456 324 240 Forecast 480 360 240

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% -20% 5% -10% (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 2008 2009 2007 Actual 456 324 240 Forecast 480 360 240

Practical Management Science
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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Q 4. (A) 4. 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: Adjustment Factor 15% 10% Month January April July September December -20% 5% -10% (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 2008 2009 2007 Forecast Actual 456 480 360 240 324 240 Q 4. (B) 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: Total Output (No. of Workers) (No. of Units) Crew Size 1 10 2 35 3 50 4 56 59 6 60 60 58 7 8 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 MPL & APL ||
Transcribed Image Text:Q 4. (A) 4. 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: Adjustment Factor 15% 10% Month January April July September December -20% 5% -10% (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 2008 2009 2007 Forecast Actual 456 480 360 240 324 240 Q 4. (B) 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: Total Output (No. of Workers) (No. of Units) Crew Size 1 10 2 35 3 50 4 56 59 6 60 60 58 7 8 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 MPL & APL ||
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