Practical Management Science
Practical Management Science
5th Edition
ISBN: 9781305250901
Author: Wayne L. Winston, S. Christian Albright
Publisher: Cengage Learning
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Chapter 14.7, Problem 23P
Summary Introduction

To determine: The forecast for April and May.

Introduction: Forecasting is a technique of predicting future events based on historical data and projecting them into the future with a mathematical model. Forecasting may be an intuitive or subjective prediction.

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Gas sales across type: 80% of gas sales tend to be regular. 15% midgrade, 5% tend to be premium. $0.10 increase in price per gallon tends to decrease gallons sold by 1 to 3%. Jan-0.87, Feb-0.95, Mar-1.00, Apr-1.05, May-1.08, Jun1.15, Jul-1.13, Aug-1.07, Sep-1.02, Oct-0.94, Nov-0.89, Dec-0.85. You want the MAPE to be below 20%, if ypu can get it to or below 10% they'll throw in extra $10k. Wont get bonus if it is above 11% or 20%. It cannot be over 20%.
help me choose the correct path please. There are other options
Negotiators can gain several benefits from using the strategy of multiple equivalent simultaneous offers. By offering multiple options it reduces the chance of rejection. It also improves the chances of reaching reaching an agreement. By presenting multiple offers, it shows you are flexible.  agree with the post
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