Need to solve with Critical Path method Appendix 1 < Passenger Forecasts>Passenger Forecasts for the New Gate Area at Newark(To be used for facility and manpower planning)DescriptionTotal between 6 AM and 2 PMMon Tue Wed Thu FriSat Sun800 600 500 600 700 200 400Total between 2 PM and 10 PM 700 400 500 700 900 300 700175 150 150 150 200 100 175Peak hour Traffic

Forecasting of given data can be done using a seasonal index. Description Mon Tue Wed Thu Fri Sat…

Answered: Appendix 1 < Passenger Forecasts>…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter12: Queueing Models

Section: Chapter Questions

Problem 59P

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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?
Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?
Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
Part 1 The accompanying dataset provides the closing prices for four stocks and the stock exchange over 12 days. Complete parts a through c. Part 1 a. Use Excel's Data Analysis Exponential Smoothing tool to forecast each of the stock prices using simple exponential smoothing with a smoothing constant of 0.3. Complete the exponential smoothing forecast model for stock B. (Type integers or decimals rounded to two decimal places as needed.) Date Forecast B 09/03/2010 09/07/2010 09/08/2010 09/09/2010 09/10/2010 09/13/2010 09/14/2010 09/15/2010 09/16/2010 09/17/2010 09/20/2010 09/21/2010 Date A B C D Stock Exchange09/03/2010 128.82 18.38 21.22 15.37 10,462.5509/07/2010 124.78 18.27 20.54 15.54 10,262.8409/08/2010 126.03 17.86 20.68 15.77 10,351.6809/09/2010 125.91 17.98 20.43 15.99 10,319.1309/10/2010 126.87 17.87…
The following are some check points: * Problem 6: Month 9 forecast: 26.333; Month 9 error: -3.333 * Problem 7: Month 7 forecast: 22.68; Month 7 error -0.68 * Problem 16A: ROLLED DOWN unit forecast for part C is 22, F is 2, I is 254, and L is 3.
2. Calculate the exponential smoothing forecast for week eight using a=0.2. Week Sales Forecast 1 39 2 44 3 40 4 45 5 38 6 43 7 39 a. 41.63 b. 39.98 c. 40.54 d. 40.03 Instruction: This is consists of one (1) multiple choice question. The question requires deep analysis. Choose the appropriate response for the question. A detailed working out should accompany the responses.
5. (a) When a new business is started, or a patent idea needs funding, venture capitalists or investment bankers will want to see a business plan that includes forecast information related to a profit and loss statement. What type of forecasting information do you suppose would be required? (b) A picnic spot is open on Thursday, Friday and Saturday. The manager hopes to improve resource availability and scheduling of part-time employees by forecasting visitors in the next week. Data on visitors of the recent 5 weeks at the spot has been found. On Saturday, Thursday, and Friday there were 182. 95, and 280 in week 1; 197, 105, and 295 in week2; 178, 92, and 275 in week 3; 210, 109, and 305 in week 4; and 192, 100. and 284 in week 5. i. Find seasonal relatives of the days. ii. Forecast number of visitors in the resort for week 6 and that is for the days of week 6.
Q: Using exponential smoothing with a weight ex of 0.6 on actual values: (a) if sales are $45,000 and $50,000 for 2010 and 2011, what would you forecast for 2012? (b) given this forecast and actual 2012 sales of $53,000, what would you then forecast for 20013? (a) (b)
4, The accompanying dataset provides the closing prices for four stocks and the stock exchange over 12 days. Complete parts a through c. Complete the exponential smoothing forecast model for stock B. (Type integers or decimals rounded to two decimal places as needed.) Date Forecast B 09/03/2010 09/07/2010 enter your response here 09/08/2010 enter your response here 09/09/2010 enter your response here 09/10/2010 enter your response here 09/13/2010 enter your response here 09/14/2010 enter your response here 09/15/2010 enter your response here 09/16/2010 enter your response here 09/17/2010 enter your response here 09/20/2010 enter your response here 09/21/2010 enter your response here Date A B C D Stock Exchange 09/03/2010 127.07 18.54 20.84 15.44 10,536.56 09/07/2010 124.84 18.21 20.45 15.55 10,245.77 09/08/2010 125.67 17.77 20.83 15.72…
Forecasting Forecasting is important relative to capacity requirements planning. What are some of the merits of using judgment methods (i.e., qualitative data) in contrast to quantitative forecasting methods. Which methods are considered to be superior or more accurate, and in what forecast situations would require judgment methods? In what situations would require a quantitative approach to forecasting?

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