EXHIBIT 3 (Questions: 15 – 17) The table below provides the number of customers using a popular hair salon that is only open 3 days/week.  The forecast for day 4 is 66 customers. Based on the information provided, please answer the following questions for each of the shaded fields labeled 1, 2, and 3.  

EXHIBIT 2 – (Questions: 12 – 14) The actual demand and forecast over 6 months are given in the table below.

EXHIBIT 5 (Questions: 20 – 22) A home builder wants to compare different forecast methods. The table below lists the demand history.  

What is the forecast for Month 7 based on the exponential smoothing method with trend? Use a smoothing parameter for level α = 0.85 and a smoothing parameter for trend β=0.7. Consider the data for June to be L6 = 85 and T6 = 7.

Which of the following statements is incorrect about what a company’s mission statement provides?

What is the forecast for July based on a weighted moving average forecast? Use a weight of 70% on the most recent period and 10% on the other periods.

EXHIBIT 4 (Questions: 18 – 19) A restaurant serves 4000 meals monthly on average at a cost of $20/meal. Each month, it spends $25,000 on wages, $5,000 on rent, $30,000 on food, and $5,000 on administrative costs.    

What is the forecast for Month 7 based on a Naïve forecast?

Which of the following aspects of demand makes every forecast inaccurate?

What is the value in field 1?