A company wants to forecast demand using a weighted moving average and weights of 0.5, 0.3 and 0.2. If the company's yearly sales values for year 2016 = 120, year 2017 = 140, year 2018 = 140, and year 2019 = 210, which of the following is the three month weighted moving average sales forecast for year 2020 154 136 175 130 152.5
Q: True or False: Single-Period inventory model makes the assumption that the demand follows a standard…
A: FalseExplanation:Single-Period Inventory Model AssumptionsOften referred to as the newsvendor model…
Q: Bobby, another enterprising barber, is thinking about advertising in the local newspaper since he is…
A: The number of units or clients that arrive within a specific time frame is known as the arrival…
Q: The Bucks Grande exhibition baseball team plays 50 weeks each year and uses an average of 350…
A: inventory management is part of operation management and supply chain management It includes…
Q: f the wheel is $ 47. The firm operatyes 243 days per year. Determine each of the following:…
A: The economic production quantity is a technique that analyses the quantity to be produced so that…
Q: We know the following data for Albert's fabricating production area: Number of machines = 6…
A: Let me state the given data, Number of machines = 6Number of working days in year = 320Processing…
Q: Identify the originating causes influencing the busing of immigrants to sanctuary cities dilemma.…
A: The busing of immigrants to sanctuary cities raises complex ethical and logistical issues. To…
Q: Personal Growth Proposal Instructions There is no format for this requirement. Some things you…
A: The objective of this question is to create a personal growth proposal in the context of operations…
Q: What does '5S' stand for in Lean Manufacturing? A) Sort, Set in order, Shine, Standardize, Sustain…
A: Efficiency and optimization are always sought after in lean manufacturing. The "5S" technique is a…
Q: Explain which types of expatriate compensation packages are most beneficial to the employee and…
A: The objective of this question is to understand the types of expatriate compensation packages that…
Q: enumerate, the role of purchasing in inventory management and control.
A: The administration of the purchasing process for the supplies needed for a business to operate and…
Q: The product development group at Landon Corporation has been working on a new computer software…
A: To calculate the probability that the project will be completed within a certain timeframe based…
Q: The following table represents a plan for a project: TIMES (DAYS) JOB NO. L234567BSGL 1 8 9 10 11…
A: 11 jobs with time estimates are given below:
Q: The volume at which Oven A and Oven B have the same cost (crossover point) and Janelle would be…
A: When choosing between alternatives, Cross over point is the point at which the two or more…
Q: After operating for some time and having evaluated the finances to project the sales of the…
A: i) The coffee shop's strategic marketing plan emphasizes high-quality goods, distinctive customer…
Q: Compute the reliability of the bridge system as shown in Figure 1. If the omponent reliability is R₁…
A: Reliability refers to the probability that a system, component, or process will perform its intended…
Q: Dave said: "All I ever see are Chevrolets, so everyone must be buying a Chevy”. This would be an…
A: The objective of the question is to identify the type of logical fallacy in Dave's statement. A…
Q: Discuss the impact of batch production on production costs and profitability.
A: Batch manufacturing is a method that produces a large number of comparable products at once. The…
Q: As countries like China and India become leaders in manufacturing, the costs of their expertise…
A: Outsourcing is the aspect of business that includes the practice in which the organization or…
Q: Operation management Production is the main objective of a management system. T/F
A: False. It is not the only goal of a management system, despite the fact that production is an…
Q: Sales for the past five months have been 15, 18, 12, 17, 13. Use the following methods to obtain a…
A: The last-value method is one of the simplest forecasting techniques. It involves taking the sales…
Q: Please help with correct answers in details: Step by step
A: Let's first recap the solutions obtained for each part of the problem:Optimal…
Q: Week 1 2 4 Forecast Method 1 0.90 1.05 0.97 1.22 Actual Demand 0.72 1.05 1.00 0.97 Week 1 2 3 4…
A: The objective of the question is to calculate the Mean Absolute Deviation (MAD) and the Mean Squared…
Q: Answer questions 5 & 6 based on the following information. A weekly sports magazine publishes a…
A: The objective of the question is to determine the optimal number of copies to be printed (Q*) for…
Q: Supply chain management plays a pivotal role in ensuring the smooth flow of goods and services from…
A: Operation management is an aspect of management that deals with the management of the production,…
Q: Burrito King (a new fast-food franchise opening up nationwide) has successfully automated burrito…
A: Service time = 50 secondsService rate per hour
Q: Please answer questions 9 and 10 based on this data. Daily demand for packages of five videotapes at…
A: 10. The reorder point should be approximately 217 packages.Explanation:10. The reorder point is the…
Q: Solve the following graphically: Max z = 3x1 + 4x2 s.t. x1 + 2x2 ≤16 2x13x2≤18 x1 ≥2 x2 ≤ 10 x1, x2…
A: Find the given details below:Objective Function:Constraints:Subject to
Q: Are Key Suppliers Part of the Sourcing Team Process?
A: Operation management is an aspect of management that deals with the management of the production,…
Q: A manual assembly line is to be designed to make a small consumer product. The work ele- ments,…
A: (a) Ideal minimum number of workers:Cycle time: Work content time: Therefore, the minimum number of…
Q: You are to share with the audience examples of domestic and international movement of goods. Provide…
A: Example:Product: Temperature-controlled pharmaceutical product Quantity: 300 casesOuter Box…
Q: .What is meant by deficient demand? Explain its causes and consequences?
A: Deficient demand happens when demand is less than supply i.e when the aggregate demand for goods…
Q: Weiss’s paint store keeps an inventory of white latex paint product in the gallon size. The manager…
A: For the normally distributed demand,The monthly mean demand =28 gallonsStandard deviation =8…
Q: Mention and explain three (3) reasons why multinational companies are growing.
A: The growth of multinational companies can be attributed to several factors. Here are three key…
Q: Activity Predecessors 1 Description Duration Start job 1 2 1 Relocate electric 6 3 1 4 3 5 4 6 4 7…
A: ActivityLS102323146523616728833936103811411243Explanation:ActivityPredecessorDurationSuccessorESEFLS…
Q: Mention two (2) advantages and two (2) disadvantages of the use of information technology in…
A: The objective of the question is to identify the pros and cons of using information technology in…
Q: A restaurant wants to forecast its weekly sales. Historical data (in dollars) for fifteen weeks are…
A: Find the given details below:Note that, for the first question the mentioned graphs (options) are…
Q: Lance Armstrong’s Bike Shop is behind on a custom bike and needs to crash 8 hours of time from the…
A: In project management, a crashing schedule is based on the technique used to compress the project…
Q: Assuming no other paths become critical, which activity should be the next activity crashed to cut a…
A: crash cost refers to the additional expense incurred when a project schedule is accelerated or…
Q: Selecting smoothing constant is a key decision when applying exponentialsmoothing method. When you…
A: Lowest MAD is the one with alpha = 1Explanation:Exponential Smoothing Equation: You can use the…
Q: Hau Lee Furniture, Inc., spends 45% of its sales dollars in the supply chain and finds its current…
A: a. A decrease of 11.1% in material (supply-chain) costs is required to yield a profit of $20,000,…
Q: Q2 (BREAK-EVEN ANALYSIS). An operations manager is deciding on the level of automation used to…
A: Find the Given details below:AlternativeFixed CostsVariable Cost per unitA $ 110,000 $ 60B $ 400,000…
Q: What is operational research
A: Management specifically the art of doing things by others every organization has its management for…
Q: William Beville's computer training school, in , stocks workbooks with the following…
A:
Q: Completing a Bank Reconciliation. Supplies Needed: Copy of Figure 4; Bank Statement; Bank…
A: Dear student, find a detailed answer and step by step solution in the explanation part…
Q: Complete a fish-bone chart explaining how a pizza delivery can arrive late on a Friday or Saturday.…
A: A fishbone diagram is the aspect of project management that presents a visual diagram of the…
Q: The accompanying dataset provides data on the monthly usage of natural gas (in millions of cubic…
A: Holt-Winter’s multiplicative method is a forecasting technique that considers both trend and…
Q: The following linear programming formulation is for a transshipment problem. Min 11x13+ 12x14 +…
A: Min11x13+12x14+10x21+8x34+10x35+11x42+9x45+12x52s.t.x13+x14−x21≤5x21−x42−x52≤3x13−x34−x35≤6−x14−x34+…
Q: = The table below defines the precedence relationships and element times for a new model toy. (a)…
A: Ideal cycle time = 1.1 minuteRepositioning time = 0.1 minuteUptime proportion = 1.0 minute
Q: 4. The Spencer Optics Company produces an inexpensive line of sunglasses. The manufacturing process…
A: Answer is given below: Explanation:Question 1:Answer:
Q: Master production schedule Week Leather Fabric 1 17 67 2 22 62 3 20 65 4 24 62 5 Total labor hours…
A: Find the given details below:
154
136
175
130
152.5
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- 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?Play Things is developing a new Lady Gaga doll. The company has made the following assumptions: The doll will sell for a random number of years from 1 to 10. Each of these 10 possibilities is equally likely. At the beginning of year 1, the potential market for the doll is two million. The potential market grows by an average of 4% per year. The company is 95% sure that the growth in the potential market during any year will be between 2.5% and 5.5%. It uses a normal distribution to model this. The company believes its share of the potential market during year 1 will be at worst 30%, most likely 50%, and at best 60%. It uses a triangular distribution to model this. The variable cost of producing a doll during year 1 has a triangular distribution with parameters 15, 17, and 20. The current selling price is 45. Each year, the variable cost of producing the doll will increase by an amount that is triangularly distributed with parameters 2.5%, 3%, and 3.5%. You can assume that once this change is generated, it will be the same for each year. You can also assume that the company will change its selling price by the same percentage each year. The fixed cost of developing the doll (which is incurred right away, at time 0) has a triangular distribution with parameters 5 million, 7.5 million, and 12 million. Right now there is one competitor in the market. During each year that begins with four or fewer competitors, there is a 25% chance that a new competitor will enter the market. Year t sales (for t 1) are determined as follows. Suppose that at the end of year t 1, n competitors are present (including Play Things). Then during year t, a fraction 0.9 0.1n of the company's loyal customers (last year's purchasers) will buy a doll from Play Things this year, and a fraction 0.2 0.04n of customers currently in the market ho did not purchase a doll last year will purchase a doll from Play Things this year. Adding these two provides the mean sales for this year. Then the actual sales this year is normally distributed with this mean and standard deviation equal to 7.5% of the mean. a. Use @RISK to estimate the expected NPV of this project. b. Use the percentiles in @ RISKs output to find an interval such that you are 95% certain that the companys actual NPV will be within this interval.Suppose that a regional express delivery service company wants to estimate the cost of shipping a package (Y) as a function of cargo type, where cargo type includes the following possibilities: fragile, semifragile, and durable. Costs for 15 randomly chosen packages of approximately the same weight and same distance shipped, but of different cargo types, are provided in the file P13_16.xlsx. a. Estimate a regression equation using the given sample data, and interpret the estimated regression coefficients. b. According to the estimated regression equation, which cargo type is the most costly to ship? Which cargo type is the least costly to ship? c. How well does the estimated equation fit the given sample data? How might the fit be improved? d. Given the estimated regression equation, predict the cost of shipping a package with semifragile cargo.
- It costs a pharmaceutical company 75,000 to produce a 1000-pound batch of a drug. The average yield from a batch is unknown but the best case is 90% yield (that is, 900 pounds of good drug will be produced), the most likely case is 85% yield, and the worst case is 70% yield. The annual demand for the drug is unknown, with the best case being 20,000 pounds, the most likely case 17,500 pounds, and the worst case 10,000 pounds. The drug sells for 125 per pound and leftover amounts of the drug can be sold for 30 per pound. To maximize annual expected profit, how many batches of the drug should the company produce? You can assume that it will produce the batches only once, before demand for the drug is known.The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?A company manufacturers a product in the United States and sells it in England. The unit cost of manufacturing is 50. The current exchange rate (dollars per pound) is 1.221. The demand function, which indicates how many units the company can sell in England as a function of price (in pounds) is of the power type, with constant 27556759 and exponent 2.4. a. Develop a model for the companys profit (in dollars) as a function of the price it charges (in pounds). Then use a data table to find the profit-maximizing price to the nearest pound. b. If the exchange rate varies from its current value, does the profit-maximizing price increase or decrease? Does the maximum profit increase or decrease?
- The management of a technology company is trying to determine the variable that best explains the variation of employee salaries using a sample of 52 full-time employees; see the file P13_08.xlsx. Estimate simple linear regression equations to identify which of the following has the strongest linear relationship with annual salary: the employees gender, age, number of years of relevant work experience prior to employment at the company, number of years of employment at the company, or number of years of post secondary education. Provide support for your conclusion.An automobile manufacturer is considering whether to introduce a new model called the Racer. The profitability of the Racer depends on the following factors: The fixed cost of developing the Racer is triangularly distributed with parameters 3, 4, and 5, all in billions. Year 1 sales are normally distributed with mean 200,000 and standard deviation 50,000. Year 2 sales are normally distributed with mean equal to actual year 1 sales and standard deviation 50,000. Year 3 sales are normally distributed with mean equal to actual year 2 sales and standard deviation 50,000. The selling price in year 1 is 25,000. The year 2 selling price will be 1.05[year 1 price + 50 (% diff1)] where % diff1 is the number of percentage points by which actual year 1 sales differ from expected year 1 sales. The 1.05 factor accounts for inflation. For example, if the year 1 sales figure is 180,000, which is 10 percentage points below the expected year 1 sales, then the year 2 price will be 1.05[25,000 + 50( 10)] = 25,725. Similarly, the year 3 price will be 1.05[year 2 price + 50(% diff2)] where % diff2 is the percentage by which actual year 2 sales differ from expected year 2 sales. The variable cost in year 1 is triangularly distributed with parameters 10,000, 12,000, and 15,000, and it is assumed to increase by 5% each year. Your goal is to estimate the NPV of the new car during its first three years. Assume that the company is able to produce exactly as many cars as it can sell. Also, assume that cash flows are discounted at 10%. Simulate 1000 trials to estimate the mean and standard deviation of the NPV for the first three years of sales. Also, determine an interval such that you are 95% certain that the NPV of the Racer during its first three years of operation will be within this interval.The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?
- 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?The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a particular company. The company suspects that except for random noise, its sales are growing by a constant percentage each month and will continue to do so for at least the near future. a. Explain briefly whether the plot of the series visually supports the companys suspicion. b. By what percentage are sales increasing each month? c. What is the MAPE for the forecast model in part b? In words, what does it measure? Considering its magnitude, does the model seem to be doing a good job? d. In words, how does the model make forecasts for future months? Specifically, given the forecast value for the last month in the data set, what simple arithmetic could you use to obtain forecasts for the next few months?Stock market analysts are continually looking for reliable predictors of stock prices. Consider the problem of modeling the price per share of electric utility stocks (Y). Two variables thought to influence this stock price are return on average equity (X1) and annual dividend rate (X2). The stock price, returns on equity, and dividend rates on a randomly selected day for 16 electric utility stocks are provided in the file P13_15.xlsx. Estimate a multiple regression equation using the given data. Interpret each of the estimated regression coefficients. Also, interpret the standard error of estimate and the R-square value for these data.