organization. Shale TesuiluCASE EXERCISE 3"Demand Forecasting for an Insurance Company25,000 insurance claims annually. In 2010, the claims processed are shown belowClaims processed in 2010:Category of claims processedpersonnel6.Non-life insurance9,35012Life insurance4,880Health care Insurance15,0008.Since there is a direct relationship between the number of claims adjustersneeded and the category of claims processed, the insurance manager referred totheir past year experience.The manager anticipates an increase in work load because the company isacquiring a small insurance business. The following data represent the manager'sprojection of the number of claims to be processed next year:Non-life insurance claims12,350Life insurance claims10,500Health care insurance claims21,000Questions:1.What demand forecasting method should the manager use?2.Using this method, calculate the demand for claims adjusters for nextyear."Demand for an Company"For the past five years, an an of25,000 claims In the claims are below:Human Resource Management: Principles and

Demand forecasting is the technique of estimating future customer demand over a predetermined time…

Answered: CASE EXERCISE 3 "Demand Forecasting for…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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CVP Analysis Lawn Master Company, a manufacturer of riding lawn mowers, has a projectedincome for the coming year as follows:Sales $46,000,000Operating expenses:Variable expenses $32,200,000Fixed expenses 7,500,000Total expenses 39,700,000Operating profit $ 6,300,000Required1. Determine the breakeven point in sales dollars.2. Determine the required sales in dollars to earn a before-tax profit of $8,000,000.3. What is the breakeven point in sales dollars if the variable expenses increases by 12%?
Kraft Bakeries introduced in 2019 a new line of frozen apple pie. For 2019, sales by quarter were asfollows: 11,000 units, 16,000 units, 15,000 units, and 20,000 units. Because of aggressive marketing and promotion, the company expects that sales for each quarter of 2020 will be 25% higher thanthe respective quarter in 2019. The selling price per unit in 2020 is expected to be $4. What are theexpected sales, in units and dollars, for the second quarter of 2020? For the third quarter of 2020?
Mt. Kinley is a strategy consulting firm that divides its consultants intothree classes: associates, managers, and partners. The firm has been stable in size for the last 20years, ignoring growth opportunities in the 90s, but also not suffering from a need to downsize inthe recession at the beginning of the 21st century. Specifically, there have been—and areexpected to be—200 associates, 60 managers, and 20 partners.The work environment at Mt. Kinley is rather competitive. After four years of working as anassociate, a consultant goes “either up or out”; that is, becomes a manager or is dismissed fromthe company. Similarly, after six years, a manager either becomes a partner or is dismissed. Thecompany recruits MBAs as associate consultants; no hires are made at the manager or partnerlevel. A partner stays with the company for another 10 years (a total of 20 years with thecompany).A. How many new MBA graduates does Mt. Kinley have to hire every year?B. What are the odds that a new hire…
Construction Management: The daily manpower required for a hotel Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 SundayMinimum required number of people 19 12 10 10 18 38 28 According to the policyEach employee [must take 2 consecutive days off and work for 5 consecutive days] For every regular employee hired, the weekly salary is 6000. You help the company plan:(A) At least how many people need to be employed? weekly fee?(B) How will each employee be given time off? Continuing from the previous question, you want to hire temporary staff to reduce costs and support peak manpower demandFor every regular employee hired, the weekly salary is 6000.The salary of each temporary staff is 2600 yuan per day. You help the company plan:(A) Complete Design and Employment Plan(B) And arrange vacations for each regular employee?
19. What combination of x and y will yield the optimum for this problem? Maximize $3x + $15y, subject to (1) 2x + 3y ≤ 12 and (2) 5x + 2y ≤ 10 and (3) x, y ≥ 0. Part 2 A. x = 0, y = 3 B. x = 2, y = 0 C. x = 0, y = 0 D. x = 0, y = 4 E. x = 1, y = 5
Given the following data on inputs and outputs at a work center, determine the cumulative deviation and the backlog for each time period. The beginning backlog is 7. (Negative amounts should be indicated by a minus sign.) Input Period 1 2 3 4 5 6 Planned 200 200 180 190 190 200 Actual 210 200 179 195 193 194 Output Period 1 2 3 4 5 6 Planned 200 200 180 190 190 200 Actual 205 194 177 195 193 200 1 2 3 4 5 6 Input Cumulative Deviation Output Cumulative Deviation Backlog 7
Briefly describe the planning techniques listed as follows, and give an advantage and disadvantagefor each:a. Spreadsheet
14. Stephanie, the supply chain analyst of Nestle is asked to present an expansion plan for thecompany. The plan is either to construct a plant, open a distribution center, or do nothing. Fromthe plant construction, the company will gain 80,000Php if the market turns favorable, loss of10,000 if average, and loss of 50,000 if unfavorable. From opening a distribution center, thecompany will gain 40,000Php if favorable, gain 20,000Php if average, and loss of 30,000Php ifunfavorable. And if the decision is do nothing, the company will gain nothing regardless of themarket turnout. Then, he was able to determine further the probability of occurrence of eachtype of market. The probability of occurrence is 60%, 25%, and 40%, respectively. He also foundout that he can buy the information on what will really happen to the market for 2,000Php.a. What should be the analyst’s decision?b. How much gain or loss will he expect for the company?c. Should he buy the perfect information? Why or why not?d.…
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