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Worked Problems (Show your calculations in order to get full credit) 1. Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. They are conducting an inventory control study of all their items. The following data for the year 2006 are for one such item, which is not seasonal. [10 Points] | Month Sales Jan Feb Mar Apr May Jun Jul 19 11 14 17 12 14 16 Aug 15 a. Use trend projection to estimate the relationship between time and sales (state the trend line equation in this problem). b. Calculate forecasts for February 2007, April 2007, and February 2008

Worked Problems (Show your calculations in order to get full credit) 1. Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. They are conducting an inventory control study of all their items. The following data for the year 2006 are for one such item, which is not seasonal. [10 Points] | Month Sales Jan Feb Mar Apr May Jun Jul 19 11 14 17 12 14 16 Aug 15 a. Use trend projection to estimate the relationship between time and sales (state the trend line equation in this problem). b. Calculate forecasts for February 2007, April 2007, and February 2008

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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Worked Problems (Show your calculations in order to get full credit) 1. Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. They are conducting an inventory control study of all their items. The following data for the year 2006 are for one such item, which is not seasonal. [10 Points] | Month Sales Jan Feb Mar Apr May Jun Jul 19 11 14 17 12 14 16 Aug 15 a. Use trend projection to estimate the relationship between time and sales (state the trend line equation in this problem). b. Calculate forecasts for February 2007, April 2007, and February 2008
Transcribed Image Text:Worked Problems (Show your calculations in order to get full credit) 1. Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. They are conducting an inventory control study of all their items. The following data for the year 2006 are for one such item, which is not seasonal. [10 Points] | Month Sales Jan Feb Mar Apr May Jun Jul 19 11 14 17 12 14 16 Aug 15 a. Use trend projection to estimate the relationship between time and sales (state the trend line equation in this problem). b. Calculate forecasts for February 2007, April 2007, and February 2008
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