Period 1 2 3 4 5 6 3. Using the table below, forecast using exponential smoothing. Assume the Alpha is 0.55, what should be the forecast for period 7 if the actual demand for period 6 turns out to be 38? 7 Actual 42 41 39 43 45 38 F 33 ?
Q: How can a company gradually introduce sustainable supply chain management?
A: Sustainable supply chain management is described as the management of a supply chain that includes…
Q: B/ solve the following linear programming problem using graphical method Min (z) = 300x₁+200x2 S.T.…
A: A graphical method of linear programming is used to find an optimal solution to a linear program.…
Q: Which projects should be selected?
A: Linear programming is a mathematical technique that is also used in operations management…
Q: ng and supplying perspective and with a simple diagram describe how goods move from the supplier of…
A: Supply Chain management: Supply chain management is the enhancement of an item's creation and stream…
Q: Annual demand is 7,000 units; Carrying cost is $4 per unit; Economic Order Quantity is 1,000 units;…
A: Carrying cost is the money incurred by the company for storing the goods in inventory for a period…
Q: In the welding operations of a bicycle manufacturer, a bike frame has a flow time of about 12.75…
A: The detailed solution is given in Step 2.
Q: Required: 1. Using the least-squares regression method, estimate the variable utilities cost per ton…
A: Mathematic models of decision-making help businesses take the correct decision for their operational…
Q: 1. Suppose that you own a used car dealership. You want to sell a 2005 Honda Civic LX. You know that…
A: As requested, I have solved part (f) only. Kindly find the solution for the same in step 2.
Q: nd: None ot ze WC Setup (min) 50 30 45 Bill of Mate Run Time (min/unit 4.0
A: Given: Data for routing file: Part Lot size WC Setup(min) Run Time Z 50 30 45 4.0 D 80 40 30…
Q: Because of new federal regulations on pollution, a chemical plant introduced a new, more expensive…
A: Note: The images show the profits in cents and not in dollars. The units have been converted to…
Q: START 1 A 1 H H H H B 1 с N 2 N N END N 3 + 3 D W H T 5 5 @ w RE 00 UI U 3 3 C 3 1 F 1 3 S 3 6 5 130…
A: Find the Given details below: Activity ImmediatePredecessors Duration A - 1 B A 1 C A 1 D…
Q: Using trend-adjusted exponential smoothing, Forecasts (F₂), Trend (T₂), and Forecasts Including…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: a) For what value of ordering cost would its action be optimal? Its action would be optimal given an…
A:
Q: 1. PREDECESSOR DIAGRAM (AON) 2. FILL UP (ES.EF.LS.LF.S) CHART 3. GANTT CHART
A: A network diagram related to the project shows the sequence of the task that is performed to…
Q: The government is auctioning off oil leases at two sites. At each site, 150,000 acres of land are to…
A: Land for auctioning = 150,000 acres Also, no bidder can receive more than 45% of the land being…
Q: At the Strathmore University Cafeteria, students seeking to have a meal are observed to arrive at a…
A: Given, Arrival rate, λ =16 per 20 minutes =0.8 per minute Service rate, μ =19 per 20 minutes =0.95…
Q: a project manager working with a professional project planning team compared with working with…
A: Project managers are responsible for overseeing the whole lifecycle of a project, from conception to…
Q: Which of the following is a disadvantage of partnership? Question 5 options: Unlimited…
A: A partnership can be stated as the formal organization by two or more two parties to handle or…
Q: How does truckload optimization work? How do you maximize profits through truckload optimization?
A: Truckload optimization refers to a reduction in transportation costs along with reducing the risks…
Q: The 3J Company manufactures handbags, shoulder bags, and backpacks. The construction of the three…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Question: To graduate from Southeastern University with a major in operations research (OR), a…
A: Objective Functions and Constraints: Based on the given details, the objective…
Q: PROBLEM 7 Eyewitness News is shown on channel 5 Monday through Friday evenings from 5:00 P.M. to…
A: Note: The question here is only to maximize advertising revenues and not only revenue. If revenues…
Q: 1. A problem statement in a Process Improvement Charter is given. What needs to be improved in this…
A: Inventory:- The definition of inventory includes both the production-related raw materials and the…
Q: True or False If the term of the sale is FOB destination point, the Seller will shoulder the cost…
A: Transporting of goods is moving the goods from one place to another. These are various types of…
Q: For the Orlando real estate investment problem, assume the probabilities for the gasoline shortage,…
A: Given data is
Q: In Chapter 9 after learning about the Total Quality Management (TQM) strategy. Please discuss how…
A: Total Quality Management often called TQM can be stated as the management structure based on the…
Q: If maximum output is 10,000 units, current output is 8000 units and break even output is 4500 units,…
A: Production is the process in which inputs are combined to have the required output. It includes a…
Q: Opportunities and threats are: a) dealt with primarily in a firm's operational planning process. ()…
A: The SWOT analysis is nothing but the acronym for Strength, Weakness, Opportunities, and Threats. The…
Q: Four employees at a fast-food restaurant each perform one of the four activities in serving a…
A: From the above given information, Greet customer = 2 seconds Taking order = 30 seconds Processing…
Q: 1. Weenies and Buns is a food processing plant which manufactures hot dogs and hot dog buns. They…
A:
Q: Given the following data of actual sales and forecast for the five months: Month 1, Month 2, Month…
A: Mean absolute percentage error indicating the average value of absolute error percentage. Mean…
Q: t. The scope must be considered, and a plan with milestones and the final goal should be set in…
A: All the steps necessary to carry out a project within its allotted time period are accounted for in…
Q: Question 5: Grizzly LLC produces its multimedia notebook computer on a production line that has an…
A: The detailed solution is given in Step 2.
Q: Use Johnson's rule to determine the optimal processing sequence for the jobs listed in the following…
A: Given data is
Q: A manager is trying to decide to buy one machine or two. If only one is purchased and demand proves…
A: A manager has to decide on the number of machines to be purchased and when to be purchased. Here,…
Q: Paula Caplin is manager of a major electronics repair facilityowned by Fisher Electronics. Recently,…
A: Project management is about planning and organizing the resources of the company. These resources…
Q: As operations manager, you are concerned about being able to meet sales requirements in the coming…
A: Given data
Q: a Compute MAD for the results of each forecasting method. Which one is more accurate? b Compute MSE…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: C&A Printing takes 10 seconds to print a page in color, but after 500 pages, the printer must be…
A: Given data is Processing time(P) = 10 seconds Cooling time(C) = 15 minutes = 15×60=900 seconds…
Q: The weekly output of a fabrication process is shown below, together with data for labor and material…
A: The detailed solution is given in Step 2.
Q: 3. Certain equipment needs 5 repair jobs which have to be assigned to 5 machines. The estimated time…
A: a)
Q: what are the objectives of corrective maintenance?
A: Corrective maintenance is described as the process that includes repairing or replacing equipment…
Q: Q.9.1 Calculate safety stock given the following information: Averaged Demand: 350 items; Standard…
A: 9.1) Given, Average demand,AVG=350 items Standard deviation during lead time,STD =10 items…
Q: PROBLEM 3 Magasin Publishing Company publishes two types of magazines on a monthly basis: a…
A: Given data is Type Profit Cost Restaurant & entertainment P50 P17 Real estate P75 P25…
Q: La Trobe university hire you as a consultant to model the student enrolment process using BPMN.…
A: BPMN: Businesses will be able to comprehend their internal business operations in a graphical…
Q: Differentiate between locating a service company as opposed to locating a manufacturing.
A: Together with advertising, HR, and perhaps finance, operations are one of a company's key functional…
Q: a) The probability of completing the critical path in 12 weeks (or less), as the client desires.…
A: As per Bartleby guidelines, we can only solve the first three subparts of one question at a…
Q: Solve using the simplex method (Use Excel Solver) Maximize P = 6 x1 + 3x2 subject to…
A: Given LP- Objective Function-Max P = 6X1 + 3X2Constraints- Subject to -2X1 + 3X2 ≤ 9…
Q: . Sketch TEN (10) principles of materials handling related to logistics management
A: Material handling:- Short-distance movement within a building's walls or between a building and a…
Q: The Barberton Municipal division of Road Maintenance is charged with road repair in the city of…
A: level plan means same workforce throughout the work periods. Formulate a spreadsheet to compute the…
Please only do this typewritten, so everything is visible. I have a hard time reading handwritten solutions. i hope you understand. thank you. i will upvote
SKIP THIS IF YOU ALREADY DID THIS OR GET DOWNVOTE
Step by step
Solved in 3 steps with 5 images
- 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 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 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 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?Forecast sales for the 11th period. For leveling, use exponential smoothing 0.20 and moving average 3 for averaging; and linear and exponential functions for trend data. Assume an initial exponential forecast of 60 units in period 2 if you decide to use it (i.e., no forecast for period 1). Period 1 2 3 4 5 6 7 8 9 10 Sales 748 690 731 869 845 956 1200 1062 1090 1200
- MONTH DEMAND 1 45 2 3 4 5 48 43 48 49 6 54 7 8 9 10 47 50 46 47 Using the table above, calculate two forecasts using the following method:-i. First, for periods 4 through 10, develop the exponentially smoothed forecastsusing a forecast for period 3 (F3) of 45.0 and an alpha of 0.4. ii. Calculate the weighted moving average for periods 4 through 10, using weights of.70, .20, and .10, with 0.70 applied to the most recent data iii. Calculate the mean absolute deviation (MAD) for each forecasting procedure.Which forecasting procedure would you select? Why?Forecast sales for the 7th period. For leveling, use exponential smoothing 0.20 and moving average 3 for averaging; and linear and exponential functions for trend data. Assume an initial exponential forecast of 60 units in period 2 if you decide to use it (i.e., no forecast for period 1). Period Demand 1 67 2 72 3 68 4 20 5 70 6 66 7 68Period Demand 1 40 2 40 3 43 4 41 5 41 A. The naive forecast for period 6 is __ B. Compute a weighted average forecast using a weight of .40 for the most recent period. .30 for the most recent, .30 for the next, the forecast for period 6 is __
- 14 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 With an alpha value of 0.31 and a starting forecast in day 3 equal to the 21 , what is the exponentially smoothed forecast for day 4? (Round to two decimal places) 15 What is the exponentially smoothed forecast for day 5? (Round to two decimal places)The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this year follows: Week Actual No. of Patients 1 87 2 89 3 96 4 80 5 86 6 93 Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.250 one period ago, 0.250 two periods ago, and 0.167 three periods ago. Part 2 a) What is the value of your forecast? The value of the forecast is enter your response here patients (round your response to two decimal places). Part 3 b) If instead the weights were 20, 15, 15, and 10, respectively, how would the forecast change? A. The value of the forecast will increase. B. The…9) Gasoline sales Times Series week sales (1000s of gallons 1 17 2 21 3 19 4 23 5 18 6 16 7 20 8 18 9 22 10 20 11 15 12 22 With the above gasoline time series data, show the exponential smoothing forecast using alpha = 0.1 i)Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of Alpha= 0.1 or alpha=0.2 for the gasoline sales time series? ii)Are the results the same if you apply MAE as the measure of accuracy? iii)What are the results if MAPE is used?