The sales and profit of a clothing organization are represented in the table below. This given data is used in forecasting and mainly decision making, accordingly: Sales , x ( in millions of dollars) Profits, y (in millions of dollars) 1.5 0.1 3.5 0.12 5.4 0.13 6.5 0.17 8 0.21 10 0.27 11 0.25 12 0.24 15 0.28 16 0.30 16.5 0.356 21 0.44 22 0.475 State three advantages of forecasting within an organization. What type of forecasting is being done within this organization? Explain why.
The sales and profit of a clothing organization are represented in the table below. This given data is used in forecasting and mainly decision making, accordingly: Sales , x ( in millions of dollars) Profits, y (in millions of dollars) 1.5 0.1 3.5 0.12 5.4 0.13 6.5 0.17 8 0.21 10 0.27 11 0.25 12 0.24 15 0.28 16 0.30 16.5 0.356 21 0.44 22 0.475 State three advantages of forecasting within an organization. What type of forecasting is being done within this organization? Explain why.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...
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The sales and profit of a clothing organization are represented in the table below. This given data is used in
Sales , x ( in millions of dollars) |
Profits, y (in millions of dollars) |
1.5 |
0.1 |
3.5 |
0.12 |
5.4 |
0.13 |
6.5 |
0.17 |
8 |
0.21 |
10 |
0.27 |
11 |
0.25 |
12 |
0.24 |
15 |
0.28 |
16 |
0.30 |
16.5 |
0.356 |
21 |
0.44 |
22 |
0.475 |
- State three advantages of forecasting within an organization.
- What type of forecasting is being done within this organization? Explain why.
pleasse make sure the answer is correct 100%
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