for the business plan assignment, do we have to do works cited or in text citations of any sort?
Updates from Tuesday 24th September, 2013 Toggle Comment Threads | Keyboard Shortcuts
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Caitlin Lim
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alanzhu
Hey Rachel what song was that?
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Rachel Lee
See my blog (“Lee,Rachel” on Blogroll- bottom right of site) for a summary of today’s class!
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Yiyin Zhang
5 is better. Forecast comes from datas and expectation.
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Kevin Ding
As the demand increases by 1, the profit increases by 2. So it doesn’t matter how much we buy.
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Yuchuan(Kevin) Ding
This is the case when the company buys more than it sells, the inventory can be stored and sold in the future.
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Jonathan Gugger
I would buy 7 since the potential revenue outweighs the cost of producing a few extra units.
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Yating Zhang
Possibly the best buy is 4-5.The chance for each customer is the same.
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Aylin Senem Piskin
Forecast comes from the past information and it helps the companies to take decisions.
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Meggie Liu
Based on past data, forecast helps to estimate future sales. We’ll buy $6.
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Mabel Teng
Buy 10! all or nothing.
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Harman Sahota
Forecast – Use it as a guide to help us make our decision
Info – Current preferences and past data
Buy – 7-8 -
Maddie Ladner
A forecast is constructed from previous demand for the product & you will base your action from it. We choose 5 because it has variability.
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Xu Yueting
People do forecast depends on customers demand (quantity and quality )
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Annabelle Chen
You see a general pattern and a prediction of the market;comes from the past accounting data; we would buy six.
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Riley Guttman
I would sell four, because I would only need to sell two to break even.
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rileyguttman
I meant to say buy four instead of sell four.
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Mabel Teng
forecast is used to predict the future trends based on past data. It depends on the product since there’s an equal likehood for each demand.
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Jiacheng Shen
I will buy 5 to minimize the risk,the past data help to make decision
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Mikhail Nikolaychuk
Buy 10 units, trying to maximize revenue, thereby maximizing profit
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Jessica Ng
We base future decisions from forecasts. Information comes from past records. We want to buy at price that minimizes risks but max profits
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Huijia Yang
We are going to sell 2 because we can make at least a profit of 1 dollar.
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huijiayang
I mean buy 2…
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Karina Chadijah
A forecast can help decision making processes and anticipate potential problems that may arise.
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Kwok Ching Him
How much to buy?
– Average sales within a period of time, E.g. 3 week, within 1 sd
– probabiliy
to make sure not much if any were leftover. -
Clement Hue Yat Kong
To find the probability of things happening. Information comes from market research and past experiences. We will buy 5 to lower risks.
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Caitlin Lim
Forecasts can help determine how much inventory to buy. From past data. We would likely buy 5 to minimize risk.
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Yssa Romero
We’ll buy 5 to minimize risks. Buying too little may not be able to fulfill the demand and buying too much may be excessive.
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Paul
We will buy 2. This costs us $2. Even if we only sell one, we will still break even.
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paulfreiwirth
***Buy 3. Cost $3. Even if we sell only one, we still break even.
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michellesieklucki
We would buy 6, spending $6 on cost because of the 60% chance of breaking even. We have room to make a profit if we sell more.
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Jake Black
6 or 7 would be optimal because the opportunity cost is less, if you buy 7 and only sell 6 you still make more than buying and selling 5.
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amnamasud
We forecast that there is a 50% chance the demand will be less than 5 or more than 5. Therfore, we should buy 5 units
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Megan Chan
information for forecasts are based on past statistics and sales
Rachel Lee 7:59 am on September 25, 2013 Permalink | Log in to Reply
Works cited are only needed for any additional research, you are not expected to cite the Business Handbook