The manager of the petroco service station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. the owner has accumulated the following data on demand for unleaded gasoline from sales during the past 12 months: month gasoline demanded (gal.) col1 = october, november, december, january, february, march, april, may, june, july, august, september col2 = 800, 725, 630, 500, 645, 690, 730, 810, 1200, 980, 1000, 850.a. compute a 2-month moving average demand forecast for the months of december to september. calculate mad, mapd and mse. b. compute the optimal 2-month weighted moving average demand forecast for the months of december to september. calculate mad, mapd and mse. c. assume the demand forecast for october is equal to the actual demand of october, 800. compute the optimal exponentially smoothed demand forecast for the months of november to september. calculate mad, mapd and mse. d. assume the demand forecast for october is 800 and trend for october is 0. compute the optimal double exponentially smoothed demand forecast for the months of november to september. calculate mad, mapd and mse. e. compute linear trend line demand forecast for the months of october to september. calculate mad, mapd and mse. f. compare the five forecasting methods by using mad, mapd and mse and indicate which method is the best fit for the data based on mad, mapd (or mape), and mse, respectively.

Afirm that makes electronic circuits has been ordering a certain raw material 250 ounces at a time. the firm estimates that carrying cost is i = 30% per year, and that ordering cost is about $20 per order. the current price of the ingredient is $200 per ounce. the assumptions of the basic eoq model are thought to apply. for what value of annual demand is their action optimal?

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?