MGMT 1100-Consider the following sequence of sales numbers

1.Consider the following sequence of sales numbers:

January $1,800

February 2,000

March 1,800

April 3,000

May 2,700

June 1,900

July 3,000

August 2,600

September 1,700

October 1,200

Calculate Novemberâs forecast for sales using

a. 3-month moving average

b. 6-month moving average

c. Regression where January=1 and February = 2 and so on. (November will be an out-of-pocket observation.)

Show work. This can be done by attaching Excel output.

Also show the error in each forecast if Novemberâs sales are 2,400. Again show work.

2. Suppose you are the new manager of a large apartment building. Write a story problem of your own that might describe something that may need to be maximized on minimized. In other words write a hypothetical situation that would be appropriate for a linear programming problem. Your answer should include:

a. a concise statement of the situation.

b. a mathematical statement of what is to be maximized or minimized

c. the constraints (at least 2 required)

d. a graphical solution of the problem

d. the optimal solution using Excel. Attach a hard copy of output..

e. a final summary of what your optimal solution implies