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ASHA 777 [7]
3 years ago
7

Forecast error a. is associated with measuring forecast accuracy. b. takes a positive value when the forecast is too high. c. ca

nnot be zero. d. cannot be negative.
Business
1 answer:
rusak2 [61]3 years ago
5 0

Answer:

The correct answer is a. is associated with measuring forecast accuracy

Explanation:

Measurement error can be defined as the difference between a measured value and a true value. If we transport this to the business environment, in our demand forecasts, and in the most general sense, we can define forecast error as the comparison between the forecasted value and the real value.

Their calculation allows us to make decisions against which forecasting method is the best and they manage to detect when something in our demand forecast is not going well, with which we manage to change the direction of our decisions in order to make the best choices.

There will always be an error in the calculation of a demand forecast. In practice, we try to minimize both types of errors by choosing the best forecasting method, and that is why there is an error measurement in demand forecasts.

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Henry Crouch's law office has traditionally ordered ink refills 55 units at a time. The firm estimates that carrying cost is 40%
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Answer:

Its action would be optimal given an ordering cost of $28.31 per order

Explanation:

According to the given data we have the following:

economic order quantity, EOQ= 55 units

annual demand, D=235

holding cost per one unit per year, H=40%×$11=$4.4

ordering cost, S=?

In order to calculate the ordering cost we would have to use the following formula:

EOQ=√(<u>2×D×S)</u>

                (H)

Hence, S=<u>(EOQ)∧2×H</u>

                     2×D

           S=<u>(55)∧2×4.4</u>

                   2×235

          S=<u>13,310</u>

                470

          S=$28.31

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3 years ago
From the following information, construct a simple income statement and a balance sheet:
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Answer and Explanation:

The Preparation of the simple income statement and a balance sheet is shown below:-

                                   Corporation X

                                  Income Statement

                                 for the Year Ended xxxx

Particulars                                        Amount

Sales                                                $1,000,000

Less: Cost of goods sold               $500,000

Gross profit                                      $500,000

Less: Other expenses                     $60,000

EBIT                                                  $440,000

Less: Interest                                   $70,000

EBT                                                   $370,000

Less: Income tax                              $100,000

Net income                                       $270,000

Number of shares outstanding       $80,000

Earning per share                             $3.375

(Net income ÷ Number of shares outstanding)

                                   Corporation X

                                  Income Statement

                                 for the Year Ended xxxx

Particulars                                        Amount

Assets

Cash                                                $70,000

Accounts Receivable                     $150,000

Inventory

Raw Material                                   $80,000

Finished Goods                              $250,000

Total Current Assets                      $550,000

Plant & Equipment                          $410,000

Total Assets                                    $960,000

Liabilities

Accounts Payable                          $160,000

Other Current Liabilities                 $60,000

Total Current Liabilities                  $220,000

Long term Debt                              $200,000

Equity                                              $540,000

Total Liabilities & Equity                 $960,000

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