he hotel has experi nced the following occupancy rates for ne past the coliseum opened. Compute an exponentially smoothed forecast with an a value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number only, two decimals)
Q: Consider the following problem. Max ZC₁x₁ + x₂ Subject to: x₁ + x₂ ≤ 6 x₁ + 2x₂ ≤ 10 x₁, x₂ ≥ 0. Use…
A: Consider the constraint 1 as x1+x2=6 If x1 = 0, then x2 = 6 The point will be (0,6). If x2 = 0,…
Q: Develop Desicion tree
A: Size of the first station Good market Fair market Poor market Small 50000 20000 -10000 Medium…
Q: What are the essential phases of project management for monitoring and regulating a project?
A: Project management is about planning and organizing the resources of the company. These resources…
Q: XYZ Print Inc. uses plain paper for copying needs. Weekly demand for that paper follows a normal…
A: Units to order = Order upto level - Onhand inventory - Order quantity Standard deviation in given…
Q: Qus 1: Find the FCFS Schedule? Qus 2: Find the SOT Schedule? Qus 3:Find the DDate Schedule? Qus…
A: The job scheduling process is a time-consuming and complicated task. It requires a lot of time and…
Q: CASE 2. "The Possibility"Restaurant Angela Fox and Zooey Caulfield were food and nutrition majors at…
A: Objective Functions and Constraints: Based on the given details, the objective…
Q: Electronics, Inc., in Nashv ces sn runs of custom ain ve scanners for the defense industry. You have…
A: In a manufacturing process, a kanban system is a form of inventory control that uses cards or tags…
Q: A stepper is a piece of equipment in semiconductor manufacturing. Each wafer's initial pass through…
A: Given data: Processing time for 1stpass = 15 minutes Processing time for 2nd pass = 40 minutes…
Q: Before project closure is possible, which one of the following is responsible for demonstrating that…
A: The success and failure of the projects lean on the team to fulfill the clients’ documented approval…
Q: What should Mehmet prioritize? Customer's safety or customer's requests?
A: Product safety is a terminology utilized to describe policies formulated to protect persons from…
Q: You are a consultant who has been engaged to advise an organization on the development of an MIS…
A: A MIS (management information system) strategy is a guide/blueprint for the development of the…
Q: XYZ, Inc., is a small firm that produces a variety of chemical products. In a particular production…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: 19. Lan Xu Company has three products; X, Y and Z. Three machines are used to produce the products.…
A: Bottleneck resource is that whose quantity is in scarcity. In other words which is in limited supply…
Q: Identifies each step in the supply chain process of manufacturing and delivering bread to a large…
A: Supply chain:- A supply chain is the network of businesses, individuals, tasks, information, and…
Q: Use the Hungarian method to obtain a plan that will minimize the processing costs in the following…
A: Undesirable combination means Job that should not to be sent on a particular machine. Job 3 cannot…
Q: 1. A manager wants to determine the number of containers to use for incoming parts for a kanban…
A: The detailed solution is given in Step 2.
Q: *Find the solution to the following linear programming problem by dual simplex method Min Z= 2X₁+4X,…
A:
Q: Using MINIMAX REGRET Criterion, what will be your decision? and If the coefficeint of optimism is…
A: Mathematic models of decision-making help businesses take the correct decision for their operational…
Q: Parts List for Electric Golf Cart Electric golf cart Top Supports (4) Cover Base Motor Body Frame…
A: Requirement = 200 golf carts by week 8
Q: a. Suppose that XYZ Print Inc. decides to establish an order-up-to level of 300 for plain paper. At…
A: Here, as per the question, I would determine the number of boxes XYZ print will order this week,…
Q: What is a scheduling technique used to achieve an optimal, one-to-one combination of tasks and…
A: Scheduling is the process of arranging the production activities in order to complete the…
Q: Find:(1) The critical path. (2) The completion time. (3) The float time.
A: The critical path method can be used for both simple and complex projects but it has its limitations…
Q: 1. How does management science help a business achieve the ideal situation? 2. Briefly discuss the…
A: 1. Management science can be broadly defined as the the usage of various scientific methods and…
Q: In the Petroco Service Station problem, for the exponentially smoothed forecast with an a value of…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: Analyze the nature and importance of Marketing Logistics and Supply Channel Management.
A: Distinguish between marketing logistics and integrated supply chain management and explain the…
Q: As shown in the attachment I have part a done and I need help on parts b, c and d. Please use…
A: Find the Calculations below: Excel Declarations: Solver Declarations: Results:
Q: In the context of project management, what is the critical path?
A: A project schedule network diagram shows the sequence of the task that is performed to complete a…
Q: Define random sampling error and non samling error, two major type of non sampling error.
A: A sampling error can be stated as the statistical error that emerges or occurs when a researcher or…
Q: LUXURY PRODUCT MANUFACTURER TURNS TO PENSKE TO IMPROVE WAREHOUSE AND DISTRIBUTION OPERATIONS A…
A: Total Quality management - is described as a persistent effort by the administration as well as…
Q: Discuss the role of the operations manager and identify two approaches for the below activities and…
A: The HR manager is essential in ensuring company goals. The workforce and human resource management…
Q: CASE 3. Burger Doodle The manager of a Burger Doodle franchise wants to determine how many sausage…
A: Given data is Biscuit Labor(hr) Sausage(lb) Ham(lb) Flour(lb) Sausage 0.010 0.10 - 0.04 Ham…
Q: 1. Compute the throughput time. (Round your answer to 1 decimal place.) 2. Compute the manufacturing…
A: Production is the process in which inputs are combined to have the required output. It includes a…
Q: Client: “We want a completed project by next month.” You: “Can you give us some details about…
A: Mistake 1: Client: “We want a completed project by next month.”You: “Can you give us some details…
Q: Q1. Provide a brief description of Globalization and indicate three (3) ways that Globalization is…
A: Globalization is a laid out piece of the cutting edge world, so the majority of us don't understand…
Q: Kanban container size = units (round your response to the nearest whole number).
A:
Q: The manager of a Burger Doodle franchise wants to determine how many sausage biscuits and ham…
A: Objective Functions and Constraints: Based on the given details, the objective…
Q: Product M is made of 2 units of N and 3 unit of P. N is made of 2 units of R and 4 units of S. R is…
A: BOM or Bills of material or Product structure tree lists the components and sub-components and their…
Q: What indicators are utilised to assess the most crucial supply chain processes?
A: Supply chain management is a process chain initiated from raw materials and ends in delivering…
Q: What is the difference between power and authority? Is it possible for a person to have formal…
A: Power: Power can be stated as the capability or prospects or potential of a person to impact or…
Q: evaluate the ways in which time and quality effect the cost of a project
A: One of the first components of developing an overall project management plan is to decipher all the…
Q: A Transportation Problem with 5 supply and 6 demand points (Unbalanced) TO (Destination)…
A:
Q: tributed across these warehouses: if some of the relevant products are maintained in Tashkent, a…
A:
Q: PA 5-12 (Static) A pharmaceutical company creates... A pharmaceutical company creates a compound…
A: Process yield can be stated as the approach that is used in producing or manufacturing to determine…
Q: which of these is not true about DMADV options are Addresses the to-be process Reduces/…
A: DMADV is nothing but the acronym for Define, Measure, Analyze, Design, and Verify. DMADV is…
Q: 1. Weenies and Buns is a food processing plant which manufactures hot dogs and hot dog buns. They…
A:
Q: A process sampled 20 times with a sample of size 8 resulted in = 28.5 and R = 1.8. Compute the upper…
A: Given data Sample size (n) = 8 x¯¯=28.5R¯=1.8
Q: Choosing between the three period and the five period forecasts, which one would you use as a…
A: Given data:
Q: 1. Formulate a linear programming model for Angela and Zooey that will help them estimate the number…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Development of Version 2.0 of a particular accounting software product is being considered by Jose…
A: Find the Given details below: Activity Normal Time (NT) (Weeks) Normal cost (NC) ($) Crash Time…
Q: Do you believe it's vital to divide a project down into manageable parts when you're in a managerial…
A: Project decomposition is defined as a systematic process of dividing the project into different…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 4 images
- 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?
- Under what conditions might a firm use multiple forecasting methods?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?
- IN THE MID-1960S, WALT DISNEY’S DREAM was to build a family resort destination like no other. The dream became a reality when Walt Disney World Resort opened in 1971, featuring Magic Kingdom as the centerpiece. Today, millions of guests visit the Walt Disney World Resort each year to experience the world-class theme parks and hotels. Analytics feature prominently in the operations of Walt Disney World. i)Explain using illustrations how forecasting features in this company’s operations. ii)Explain at least four methods of forecasting that can be used for Disney’s purpose. Use made up worked examples.IN THE MID-1960S, WALT DISNEY’S DREAM was to build a family resort destination like no other. The dream became a reality when Walt Disney World Resort opened in 1971, featuring Magic Kingdom as the centerpiece. Today, millions of guests visit the Walt Disney World Resort each year to experience the world-class theme parks and hotels. Analytics feature prominently in the operations of Walt Disney World. Explain using illustrations how forecasting features in this company’s operations. Explain at least four methods of forecasting that can be used for Disney’s purpose.24,000-seat arena that is home to the city’s professional basketball and ice hockey teams and that hosts a variety of concerts, trade shows, and conventions throughout the year. The hotel has experienced the following occupancy rates for the past 9 years, since the coliseum opened. Compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number only, two decimals) 1 83 2 78 3 75 4 81 5 86 6 85 7 89 8 90 9 86
- Exotic Wines, Inc. wants to use exponential smoothing with α = 0.35 to forecast demand in bottles sold. The demand the last four months are 3,221, 3,197, 3,645, and 3,912 bottles. The forecast for bottles was 3,221 bottles for the second month. What is the forecast for the fifth month? Round your answer to the nearest whole number. bottles:The Oceanside Hotel is adjacent to City Coliseum, a 24,000-seat arena that is home to the city’s professional basketball and ice hockey teams and that hosts a variety of concerts, trade shows, and conventions throughout the year. The hotel has experienced the following occupancy rates for the nine years since the coliseum opened: Year 1 2 3 4 5 6 7 8 9 Occupancy Rate 75% 70% 72% 77% 83% 81% 86% 91% 87% Compute an exponential smoothing forecast with α = 0.20, an adjusted exponential smoothing forecast with α = 0.20 and β = 0.20, and a linear trend line forecast. Compare the three forecasts using MAD and average error (?̅), and indicate which forecast seems to be most accurate.John's House of Pancakes uses a weighted moving average method to forecast pancake sales. It assigns a weight of 5 to the previous month's demand, 3 to demand two months ago, and 1 to demand three months ago. If sales amounted to 1000 pancakes in May, 2200 pancakes in June, and 3000 pancakes in July, what should be the forecast for August?