. What is the mean square error for time periods 2 through 4 using the average forecasting method? b. What is the mean absolute error for time periods 2 through 4 using the average forecasting method? c. What is the mean absolute percentage error for time period 2 through 4 using the average forecasting method? Round all answers to two decimal places.
Q: Lindsay Electronics, a small manufacturer of electronic research equipment, has approximately 6,500…
A: ABC analysis is a strategy for inventory management that assesses the value of inventory items based…
Q: has decided to implement a ka sister facility. You currently har your location is 75 units per da…
A: Given data: Current subassemblies=500 average build=75units per day (last month) minimum…
Q: In the context of data warehouses, what precisely does the term "Hybrid Approach" imply?
A: Hybrid Approach :- A hybrid approach to data warehousing means that you maintain two or more…
Q: A location analysis has been narrowed down to two locations, A and B. The main factors in the…
A: Given data Weight of the raw material = .50 Weight of the transportation cost = .4 Weight of the…
Q: if drivers wanting to fill up their cars arrive randomly at another gas station across the street at…
A:
Q: Given the data for a project in table Q3, using the following 1. 8 hours as working day 2. The…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Delegation provide the leader with the right , by virtue of his/her position within the organization…
A: In the context of the organization, delegation can be stated as the approach of providing autonomy…
Q: The production manager at Zam Tech has developed following aggregate forecast of its products: The…
A: For a level plan the production level is kept constant. Here, since the cost of reuglar production…
Q: Annual Demand (D) = 168,000 cases Daily Demand (d) = 380 cases COGS (C) = {c} cases Sd (Standard…
A: Inventory management can be stated as the approach of storing, utilizing, placing orders, and…
Q: how is a job costing system implemented provide a brief explanation of each step in the…
A: Job costing system is used by small organizations. Job costing system is a method of accounting by…
Q: 10 New-to-the-world products are used to reposition brands. A. True B. False
A: Repositioning means changing the brands postion into new markets or cha ging it's previous startegy…
Q: Use the graphical solution procedure to find the optimal solution. b. Assume that the objective…
A:
Q: In the fewest possible words, define the phrase "balanced scorecard." What is the connection between…
A: A balance scorecard is a strategic management tool which enables the firm to take crucial decisions…
Q: | (3;2) (1;1) A (1;1) (2;3) Find NE in this game
A:
Q: Mr. ichul is a Director of a pastry factory in Bandung. To produce 350 cakes per day it takes the…
A:
Q: Distinguish between functional, matrix, and project organizations. Describe how each structure…
A: The difference between between functional, matrix and project organization can be listed down as…
Q: 1. Check all that apply. Which of these is an example of an export? O A manufacturer sends a ship of…
A: Exports are the goods and services that are produced domestically but are sold to the buyers or…
Q: Facebook had its ______ when it sold stocks to the public for the first time. tombstone financial…
A: Facebook had its ______ when it sold stocks to the public for the first time. tombstone financial…
Q: newsletter to highlight
A: Internal communication can inspire, motivate and connect workers besides keeping them updated about…
Q: Chapter 8. In Problem Set 6, we worked on a problem for Flor’s Flours, a small business that…
A:
Q: What costs must be balanced and minimized through inventory control?
A: Inventory control is the process of keeping the right number of goods at right time to avoid…
Q: Flemming Accessories produces paper slicers used in offices and in art stores. The minislicer has…
A:
Q: 1. What’s the cycle time for this production line? 2. What’s the theoretical minimum number of…
A:
Q: Lia ITZY has determined that the annual demand for number 6 screws is 100,000 screws. Lia, who works…
A: Given data is Annual demand(D) = 100,000 Order cost(S) = $10 Holding cost = 0.5(0.01) = $0.005
Q: Jsing a 6 X 2 block diagram and the given relationships diagram, prepare a layout satisfying the…
A:
Q: how Supply Chain Management inpact the logistics?
A: Supply chain management refers to the proper planning and staffing the process of supply chain in…
Q: Recognize and categorize the data on your computer or personal digital assistant. What information…
A: Data is a collection information. Recognize and categorize data is a suffocating task. Because of…
Q: a. Perform the sensitivity analysis both OFC and RHS using Excel Solver b. Draw a conclusion based…
A: Formulas used:
Q: ious speeds and requires periodic tool regrinding at the intervals cited. Speed Output per Hour Tool…
A:
Q: 1945, a rare and curious Volkswagen car was shipped from its bomb-damaged German factory to England.…
A: Given: recorded values =9years develop a regression equation relating registration to time. Forecast…
Q: DaShu is a retailer store that sells T-shirts to its customers. Suppose the customer demand in a…
A: Mean customer demand = 1000 units Standard deviation = 300 units Service level = 90%
Q: The BeeGees' sells guitars for P6,999 each. The store consistently sells 450 guitars every year. The…
A:
Q: Explain the thinking behind quick response (QR) logistics. How could QR help a retailer to plan and…
A: Supply chain management is described as the process of management of the flow of services and goods…
Q: Warehouse: 4. What is stock receipt? What consideration should be taken in the stock receipt?
A: Stock receipts refers to the receipts received by the supplier related to the goods and materials…
Q: When work stations are arranged to match the sequence of operations, a process layout is being…
A: Definitions: Product layout: - A layout where machines are arranged together in a systematic manner…
Q: 3. Discuss the logistics of the new refrigerator from the perspective of the retailer.
A: Logistics relates to the overall approach of controlling how resources are obtained, stored, &…
Q: "Relationships between Job Stress and Employee Well-Being in the Implications of Information and…
A: Job stress and employee wellbeing are significant challenges to human resources management and…
Q: re some of the best prac
A: Capacity planning or capacity management: Capacity planning alludes to the demonstration of…
Q: of units sc
A: Given data: Item Annual number of units sold Cost per unit Diaries 50000 ∈3.50 Notepads 40000…
Q: The GEM maker of jewelry makes two bracelet designs, heart design and flower design. The bracelets…
A: given, store 28 ounces of gold 20 ounces of platinum profit P2500
Q: Determine optimalproduct mix for masximizing profit for the problems that show in the table below:…
A: Since the total demand and supply are unequal, we need to introduce a dummy to equalize them. The…
Q: The production manager of Batasan Enterprises wants to improve its cycle efficiency by cutting on…
A: Given data is Original value add time = 9 hours = 540 minutes Original non-value add time = 146…
Q: How has the behaviour of the staff been influenced by the ethical behaviour of the company? Is…
A: Most companies with store components faced a great deal of failure due to inventory loss generated…
Q: QUESTION 1 The enrollment of the new students at ABC University has increased steadily over the past…
A: Note: - Since we can answer only up to three subparts we will answer the first three subparts(a, b,…
Q: b) Suggest possible measures/ solutions that can be un
A: Electronic procurement systems are a significant advancement in the buying process, providing…
Q: An operation consists of two steps , the first of which has a reliability of 97% and the second a…
A: The given system indicating a serial process that required both the step should work for the…
Q: What is a system's definition of improvement?
A: Process enhancement can be stated as the methodology to encounter redundancies in the approaches…
Q: why do social networks matter?
A: Running a small home-grown business or an enormous countrywide corporation social broadcasting is…
Q: Q1: Benefits are the reasons why customers will decide to buy the products. False True Q2: The…
A: Production is the process of transforming the raw material into the finished products and services…
Q: Define capacity. Why is it important for a manufacturing business or a service business?
A: Capacity is important for any manufacturing business or a service business.
a. What is the mean square error for time periods 2 through 4 using the average
b. What is the mean absolute error for time periods 2 through 4 using the average forecasting method?
c. What is the mean absolute percentage error for time period 2 through 4 using the average forecasting method?
Round all answers to two decimal places.
| Time Period | 1 | 2 | 3 | 4 | Mean absolute error (MAE) | Mean squared error (MSE) |
Mean absolute percentage error (MAPE) |
|
| Electric Bill | 510 | 315 | 420 | 480 | ||||
| Average Forecast | ||||||||
| Forecast Error |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?
- 10 Community General Hospital finds itself treating many bicycle accident victims. Data from the last seven 24-hour periods is shown below: Day Bicycle Victims 1 8 2 14 3 8 4 14 5 18 6 15 What is the forecast for day 4 using a 3-period moving average model? (1 mark) (Round to two decimal places). 11 What is the forecast for day 5 using a 3-period moving average model? (Round to two decimal places). 12 What is the forecast for day 6 using a 3-period moving average model? (1 mark) (Round to two decimal places). 13Daily high temperatures in St. Louis for the lastweek were as follows: 93, 94, 93, 95, 96, 88, 90 (yesterday).a) Forecast the high temperature today, using a 3-day movingaverage.b) Forecast the high temperature today, using a 2-day movingaverage.c) Calculate the mean absolute deviation based on a 2-daymoving average.d) Compute the mean squared error for the 2-day movingaverage.e) Calculate the mean absolute percent error for the 2-daymoving average.Lesson about Forecasting: Linear Regression and Measures of Variations, view the photo for details. Help me pls.
- What forecasting technique makes use of written surveys or telephone interviews? Historical analogy, Delphi method, Marketing research, Ad hoc forecasting, or Collaborative forecasting? 2 Which qualitative forecasting technique was developed to ensure that the input from every participant in the process is weighted equally? Historical analogy, Delphi method, Marketing research, Ad hoc forecasting, or Collaborative forecasting? 3 When forecasting demand for new products, sometimes firms will use demand data from similar existing products to help forecast demand for the new product. What technique is this an example of? Historical analogy, Delphi method, Marketing research, Ad hoc forecasting, or Collaborative forecastingDescribe what are the main advantages that quantitative techniques for forecasting have over qualitative techniques? What limitations do quantitative techniques have?17. Statistical and observational methods, where adequate data or settings are available in which to apply them, are superior to survey methods of forecasting. Select one O True O False
