A Convenience Store Recently Started to Carry a New Brand

question 66

Short Answer

A convenience store recently started to carry a new brand of iced tea in its territory. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. At the end of April, the average monthly sales volume of the new drink was 700 cans and the trend was + 50 cans per month. The actual sales volume figures for May, June, and July are 760, 800, and 820, respectively. Use trend-adjusted exponential smoothing with α= 0.2 and β= 0.1 to forecast usage for June, July, and August.

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Definitions:

Joint Attention

Individuals focusing on the same object or event; requires the ability to track another’s behavior, one person directing another’s attention, and reciprocal interaction.

Memory Skills

The cognitive abilities that allow one to store, retain, and recall information and experiences.

Repetitive Behavior

Actions or sequences of actions that are performed repeatedly in a similar manner, often observed in various contexts including disorders like autism.

Scheme Theory

A cognitive framework or approach that emphasizes the structuring of information into schemas, which are mental representations organizing knowledge and guiding information processing.