Forecasting RoomCongratulations, the design options for the two mobile phone lines have been specified. You will nowhave to predict the total demand for each product line.Your forecasting team members have come up with a consensus for what they believe demand will be forthe mobile phone lines.However, the board of your company is interested in your personal estimates as well.The numbers you will forecast after entering the forecasting room will not affect your productionschedule, but they will help you later as you determine where and how to source your products.Model A: Monthly Estimated Demand May-Decemberin thousands per month801604020AyaModel B: Monthly Estimated Demand May-Decemberin thousands per month80-60-4020-AndreiAndreibishing Run Archive | CreditsAyaLorenzoLorenzoClaireClaireByronPByronRuthAverage: 56 Standard Dev: 2TextbookRuthConsensusAverage: 33 Standard Dev, 6ConsensusQuatricshttps://chat.opena... 00 SCM TBUnit Data with Options as Chosencosts are an estimate from the lowest-cost contract manufacturerModel AUnit PriceUnit CostUnit ProfitMarkdown (liquidation) PriceMonthly Holding CostModel AModel BSubmit$212.00$133.00$79,00$119.70$4.24Model B$252.00$153.00$99.00"at the end of the year, all models left in stock will be sold to a consolidatorat this pricek/monthk/month$45.90$5.04Enter your demand estimatesThis is your forecast for what monthly demand will be each monthfrom May through December. There is no demand expected fromJanuary through April,*Please write a short statement about the strategy you employed in theroomDeveloped in partners with /forio

Demand forecasting is the method involved with anticipating future demand for an item or…

Forecasting Room Congratulations, the design options for the two mobile phone lines have been specified. You will now have to predict the total demand for each product line. Your forecasting team members have come up with a consensus for what they believe demand will be for the mobile phone lines. However, the board of your company is interested in your personal estimates as well. The numbers you will forecast after entering the forecasting room will not affect your production schedule, but they will help you later as you determine where and how to source your products. Model A: Monthly Estimated Demand May-December in thousands per month 30 60 40 20- Andrei Aya Lorenzo Claire Byron Average: 56 Standard Dev: 2 Ruth Consensus Unit Data with Options as Chosen costs are on estimate from the lowest-cost contract manufacturer Model A $212.00 $133.00 $79.00 Unit Price Unit Cost Unit Profit Model $2520 $153.0 $99.0 Markdown (liquidation) Price Monthly Holding Cost "at the end of the year, all models left in stock will be sold to a consolidator of this price $119.70 $4,24 $45.9 $5.0 Enter your demand estimates This is your forecast for what monthly demand will be each month from May through December. There is no demand expected from January through April Model A k/month k/month Model B *Please write a short statement about the strategy you employed in sha

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.4: Multiple Regression Models

Problem 17P: The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He...