Eco404 Managerial Economics Assignment No. 01 Solution and Discussion Fall 2013 Due Date 02-12-2013
ECO404 Managerial Economics Assignment No. 01 Solution and Discussion Fall 2013 Virtual University (VU) Due Date 02-12-2013
SEMESTER FALL 2013
MANAGERIAL ECONOMICS (ECO404)
ASSIGNMENT NO. 01
DUE DATE: 2ND DECEMBER, 2013
Bonanza Corporation established in 1976. Bonanza Garments started its
operation with only a handful of machines and individuals. Bonanza
Garments is the most successful, widely recognized and often imitated
clothing products in the history of Pakistan apparel industry. Over
successive generations, Bonanza Garments have secured the attention,
imagination and loyalty of diverse consumers. Especially Bonanza is a
leading brand for winter garments. With the vision to become leaders of
the industry, Bonanza strives to make each of its products, with careful
R&D and intensive innovation. It has proven its variety according to the
fashion parameters set by international industry experts. Company has a
constant sales growth rate of 35%. Its management wants to estimate the
impact and relationship between its total sales with its successive
products for a reliable future sale forecasting of winter sales. Company
wants to forecast the sales level for 2014 based upon previous sales
pattern that is as following:
Years Sales (In million)
A. Forecast sales level of Bonanza Corporation for 2014 by using
three years and five years moving average method. And
analyze which moving average is the best for data forecasting?
B. Forecast sales level of Bonanza Corporation for 2013 through
exponential smoothing by using 0.5 and 0.7 weights for actual
values. And analyze which weight is more feasible for data
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It is very simple assignment and evey thing is given in lesson 12. Just data has been changed and one only has to use the given formulas and do the calculations. It is very useful for the mid term preparations. Best of luck
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The moving average for time period t is the mean of the “k” most recent observations.
The constant number k is specified at the outset.
The smaller the number k, the more weight is given to recent periods.
The greater the number k, the less weight is given to more recent periods.
A large k is desirable when there are wide, infrequent fluctuations in the series.
A small k is most desirable when there are sudden shifts in the level of series.
For quarterly data, a four-quarter moving average, MA(4), eliminates or averages out seasonal effects.
For monthly data, a 12-month moving average, MA(12), eliminate or averages out seasonal effect.
Equal weights are assigned to each observation used in the average.
Each new data point is included in the average as it becomes available, and the oldest data point is discarded.
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The slide show is about moving average method, so it will help the students to solve this assignment. I also solved my assignment through the help of this slide show.
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