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Time Left Question 25 11 point) Bases on the EVU method, which decision alternative would you choose? Average Nature Od O 24
6 Question 3 (1 point) What will be the seasonal index for Quarter 3 if sales in 4 quarters in order are: 100,175, 225,135? 1
Answer 3 Question 16 (1 point) You are owner of a Grocery shop and you are reviewing the sales of product A, below is the fre
2020 - Requires Respondus LockDown Browser + Wel 2.00 Time Left 1:59:08 Abdia Hussein Attempt 1 Question 13 (1 point) Conside
Question 14 (1 point) The Absolute error for period 3 when Naive forecast method is used:(Please round to 2 decimal places fo
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Answer #1

25.

Poor Avg Good EV
Alternative-1 31 31 24 28.9
Alternative-2 10 23 17 18.6
Alternative-3 29 20 13 19.7
Alternative-4 15 27 19 22.2
Probability 0.2 0.5 0.3

So, Alternative-1 is the best

3.

Average (overall) = (100+175+225+135)/4 = 158.75

So, Qtr-3 index = 225/158.75 = 1.417

16.

Totals of frequency = 7+11+6+3+1 = 28

Prob(Sales=90) = 7/28 = 0.25
Prob(Sales=200) = 11/28 = 0.3829

So, PRob(Sales <= 2000 = Prob(Sales=90) + Prob(Sales=200) = 0.25 + 0.3829 = 0.64

17.

EVUPI = 0.4 * Max payoff for Good + 0.6 * Max payoff for Bad = 0.4*9.6 + 0.6*11.4 = 10.68

14.

Forecast of period-3 = Actual of period-2 = 11.5

So, error = Actual of period-3 - Forecast of period-3 = 4.6 - 11.5 = -6.9

So, absolute error = |-6.9| = 6.9

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