# ply Chanl and Operations Management Kelley Duvelsaint Homework: Homework 3 (Forecasting) Save Score: 0 of 1 pt 7of 10 (5 complete) HW Score: 50%, 5 of 10 pts Problem 4.24 := Question Help The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Number of Accidents 30 40 04 anFeb Mar Apr Using the least-squares regression method, the trend equation for forecasting is fround your responses to two decimal places) nter your answer in the edit 2 4 5

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A: a)

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- When the idea first occurred to her, it seemed like such a win-win situation. Now she wasn't so sure. Marge Brygay was a hardworking sales rep for Inspire Learning Corporation, a company intent on becoming the top educational software provider in five years. That newly adopted strategic goal translated into an ambitious, million-dollar sales target for each of Inspire's sales reps. At the beginning of the fiscal year, her share of the sales department's operational goal seemed entirely reasonable to Marge. She believed in Inspire's products. The company had developed innovative, highly regarded math, language, science, and social studies programs for the K— 12 market. What set the software apart was a foundation in truly cutting-edge research. Marge had seen for herself how Inspire programs could engage whole classrooms Of normally unmotivated kids; the significant rise in scores on those increasingly important standardized tests bore Out her subjective impressions. Bur now, just days before the end of the year, Marge's sales were $1,000 short of her million-dollar goal. The sale that would have put her comfortably over the top fell through due to last-minute cuts in one large school system's budget. At first, she was nearly overwhelmed with frustration, but then it occurred to her that if she contributed $1,000 to Central High, the inner-city high school in her territory probably most in need of what she had for sale, they could purchase the software and put her over the top. Her scheme would certainly benefit Central High students. Achieving her sales goal would make Inspire happy, and it wouldn't do her any harm, either professionally or financially. Making the goal would earn her a $10,000 bonus check that would come in handy when the time came to write out that first tuition check for her oldest child, who had just been accepted to a well-known, private university. Initially, it seemed like the perfect solution all the way around. The more she thought about it, however, the more it didn't quite sit well with her conscience. Time was running out. She needed to decide what to do. 1. Donate the $1,000 to Central High, and consider the $10,000 bonus a good return on your investment.With no historical data to make prediction of future labour needs, which forecasting methods would you use? a. Multiple regression and Delphi technique b. Unit method and linear programming c. Best- and worst-case scenarios and bottom up d. Top down and learning curve analysisHello, I hope you can help me with this. answer the following question and no copy paste allowed. 1. Discuss the importance of Forecasting in Operations Management. 2. Identify one method that is used in forecasting and explain how it is applied. 3. In planning the capacity, what are the factors that you have to be considered. From the three questions, what can you conclude?
- 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…In your own words and it should be in paragraph form. Also, don't forget to conclude. 1. Discuss the importance of Forecasting in Operations Management.Provide explanation Warrens Milk Tea Shop is talk of the town. As an owner, he wants to know the possible challenge he will encounter in the next three years. What technique he should use? A Contingency planning B benchmarking C forecasting D scenario planning
- The solution of coping with natural differences between marketing and production functions is to do what two things? Develop an equitable set of measurements and promote strong lines of communication Merge functional areas and improve forecasting Improve forecasting and maximizing productivity Appoint a single manager for both functions andproduce tosales forecasts Provide training on team techniques and coordinate reporting.Explain in between 400 and450 words the differences between forecasting and budgeting and also define the following terms: Double-loop Feedback and Feed -back loop explaining this as it applies in the Control Circle.Why is forecating needed in an organization. What are the tools operations managers use when forecasting. Please elaborate response by providing real life examples or properly cited academic references.
- Those who make decisions about the future of technologies must balance the desire for more and better information about the future with their limited resources and inevitable time constraints.” Is there a way to guarantee forecasting information and decisions is correct?What tool should we use to know whether our forecasting was under forecasted or over forcasted? Is it possible to get the same value of CFE and MAD? How? What does the value of MSE signify?Sanders Bears produces stuffed animals. Sanders is in the process of implementing a cost forecastingsystem using the high-low method. The variable cost per animal is $2 and the high and low costs usedare $80,000 for 30,000 animals and $40,000 for 10,000 animals. What is the value of the fixed costfor the cost estimating equation?

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