Case Study

What statistical analysis/treatment can I use to interpret or answer this problem? (I have datasets) 1. Determine the interest of tertiary-level students in personal health and fitness from four universities.

III. State the research problems for each of the following management decision problem Should a new hospital be opened? Should the restaurant menu contain exotic food? Should more white chocolates be introduced in the market?

Write a 1000 words report on a case study. You have recently started a new job as a junior operations manager at Pet Kingdom, a petsupplies retailer. You are writing these reports to your line manager, Ms Lionheart, so theappearance and language of your reports need to be professional. CASE STUDY - Forecasting  Your line manager, Ms Lionheart, has collected and scrutinised performance data for thecompany. She was concerned that the inventories were high for certain products which hadresulted in significant price reductions and losses for the company. At the same time, thecompany had run out of stock for other items early in the season resulting in unsatisfiedcustomers and lost sales. Ms Lionheart has concluded that the problem was not with thespecific products carried in the stock, but with the quantities ordered by the procurementdepartment for two popular products; Dog Ball Launcher and Lightweight Dog Lead.Dog Ball Launcher is a product carried by the company for the past four…

1:46 口 Forecasting Assignment 1. The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAD for the manager's forecast. Compare the manager's forecast against a naive forecast. Which is better? Manager's Forecast Month Unit Sales January February 52 61 March 73 April Мay 79 66 June 51 July August September 47 50 44 55 30 52 October 55 42 November 74 60 December 125 75 2. The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts (for the same four weeks) were 60, 80, 95, and 75 units. Calculate MAD, MSE, and MAPE for these four weeks. Sales Forecast Error Error squared Pct. error 80 60 20 400 .25 100 80 20 400 .20 105 95 10 100 .095 90 75 15 225 .167 AA A online.saskpolytech.ca

Forecasting Food and Beverage Sales The Vintage Restaurant, on Captiva Island, near Fort Myers, Florida is owned and operated by Karen Payne. The restaurant just completed its third year of operation. During that time, Karen has sought to establish a reputation for the restaurant as a high-quality dining establishment that specializes in fresh seafood. Through the efforts of Karen and her staff, her restaurant has become one of the best and fastest-growing restaurants on the island. To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. Table below shows the value of food and beverage sales ($1000s) for the first three years of operation. Managerial report. Perform an analysis of the sales data for the vintage Restaurant. Prepare a report for Karen that summarize your findings, forecast and recommendation. Include the following: A time series plot. Comment on…

Explain qualitative forecasting methods that managers can use to predict future behavior in various aspects of a company's operations. Use the following guide: Conclusion Answer the following question: Are qualitative forecasts better predictors of outcomes than quantitative methods?Why yes or why not? Justify your answer.

Cinema HD an online movie streaming service that offers a wide variety of award-winning TV shows, movies, animes, and documentaries, would like to determine the mathematical trend of memberships in order to project future needs. Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 Membership 17 16 16 21 20 20 23 25 24   a. What are the issues associated with qualitative forecasting, and how are these overcome? b.Provide an example of qualitative forecasting and explain the shortcomings.

Define Quantitative forecasting?

Several business periodicals often carry reports of companies that may not have met their sales and profit forecasts. What are some reasons a company might not meet its forecast? What suggestions could you make for improving the effectiveness of forecasting?

Which is better forecasting or benchmarking? Be practical.

What forecasting methods should the company consider? Please justify.

What strategic decisions do organizations need to make in terms of forecasting? What are some examples?

1. Forecast Laredo International Airport airline enplanements using the data in the in class example. Using a 10-year average market share, develop projections for the years 2005, 2010, 2015 and 2020. Show your answers in a table. Year Total Airline Enplanements Southwest Region Enplanements Market Share (%) 1990 59,279 60,925,903 0.0973% 1991 65,651 60,467,718 0.1086% 1992 80,593 63,396,932 0.1271% 1993 92,110 64,296,680 0.1433% 1994 97,998 67,434,877 0.1453% 1995 64,198 70,689,841 0.0908% 1996 57,996 72,061,761 0.0805% 1997 61,728 74,341,596 0.0830% 1998 79,714 75,957,918 0.1049% 1999 88,969 77,056,344 0.1155% 2000 90,647 79,833,666 0.1135% 2001 82,400 80,184,741 0.1028% Ten Year Average     ??? 2005 ??? 93,167,307 ??? 2010 ??? 110,022,766 ??? 2015 ??? 126,843,590 ??? 2020 ??? 143,846,242 ??? 2025 ??? 160,775,532 ??? 2. How does…

body de: A manager wants to choose one of two forecasting alternatives: moving average and exponential smoothing. Each alternative was tested using historical data. The resulting forecast errors for the two are shown in the table. Period (t) Forecasting Errors using Moving Average Forecasting Errors using Exponential Smoothing 1 3 4 2 3 -2 2 -3 3 4 2 -1 5 2 3 (a) Calculate MAD for Moving Average Method and Exponential Smoothing Method (b) Calculate MSE for Moving Average Method and Exponential Smoothing Method 6 4 5 (c) Based on Part (a) and Part (b), which forecasting method (Moving Average or Exponential Smoothing) should be used in this problem? Please explain your reasons.

Q3. Find forecasted value for 2017 using a = 0.5 and a = 0.7 using exponential smoothing method. Which a is better (10 Years Sales Forecasted sale 2012 25 2013 17 2014 2015 30 2016 27 2017 21

What role does forecasting play in long-term planning, and what are some effective forecasting techniques?

Does operations with different forecasting conditions have different types of decisions? What are these? What are they?

What is the seasonal relative for the summer? (Please keep 3 decimal places for your answer)

q10-  What is the best description of Granger-causality? Select one: a.   the ability of lags of one variable to contribute to the forecast of another variable   b. the ability of a variable to predict its own future c. the ability of the one variable to explain it own past d. None of the above Clear my choice

Regression and Utility Rates; Sustainability For several years, many utilities haveemployed regression analysis to forecast monthly utility usage by residential customers usingweather forecasts, the number of holidays, the number of days in the month, and other factors.For example, the Connecticut Department of Public Utility Control (CDPUC) has determinedthat regression, properly used, can accurately predict natural gas usage. Most public gas utilities serving Connecticut have reported levels of accuracy from 4% to 10% using regression.One company, Dominion Natural Gas Company of Ohio, uses this approach not to forecast, butto explain to customers why their natural gas bills have gone up or down compared to the priormonth and to the same month of the prior year. The bill shows total MCF (thousand cubic feetof natural gas) used by the customer for that month and why the total MCF usage has changed,based on three factors:1. Change in temperature. Each degree increase in temperature…

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Why is forecasting better tool than benchmarking?