EBK EXCELLENCE IN BUSINESS COMMUNICATIO
EBK EXCELLENCE IN BUSINESS COMMUNICATIO
11th Edition
ISBN: 9780133544350
Author: BOVEE
Publisher: YUZU
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Chapter 11, Problem 16LOC
Summary Introduction

To Select:

An uncommon way to organize informational reports.

Introduction:

Informational reports provide facts, data, details, feedback and other types of information without analysis or recommendation. There are mainly four uses for these types of reports; decision making, policy, compliance, and status, however, it depends upon the aim to collect and analyze the data.

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Scenario You have been given a task to create a demand forecast for the second year of sales of a premium outdoor grill. Accurate forecasts are important for many reasons, including for the company to ensure they have the materials they need to create the products required in a certain period of time. Your objective is to minimize the forecast error, which will be measured using the Mean Absolute Percentage Error (MAPE) with a goal of being below 25%. You have historical monthly sales data for the past year and access to software that provides forecasts based on five different forecasting techniques (Naïve, 3-Month Moving Average, Exponential Smoothing for .2, Exponential Smooth for .5, and Seasonal) to help determine the best forecast for that particular month. Based on the given data, you will identify trends and patterns to create a more accurate forecast. Approach Consider the previous month's forecast to identify which technique is most effective. Use that to forecast the next…
Answer? ? General Accounting
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