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Operations Management
PRICE PER CHIP (S) PRICE PER MONTH MONTH CHIP (S) January 1.80 July 1.80 February 1.67 August 1.83 March 1.70 September 1.70 April 1.85 October 1.65 May 1.90 November 1.70 June 1.87 December 1.75

PRICE PER CHIP (S) PRICE PER MONTH MONTH CHIP (S) January 1.80 July 1.80 February 1.67 August 1.83 March 1.70 September 1.70 April 1.85 October 1.65 May 1.90 November 1.70 June 1.87 December 1.75

Practical Management Science
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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Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows:                                                                                                                a) Use a 2-month moving average on all the data and plot the averages and the prices.
b) Use a 3-month moving average a nd add the 3-month plot to the graph created in part (a).
c) Which is better (using the mean absolute deviation): the 2-month average or the 3-month average?
d) Compute the forecasts for each month using exponential smoothing, with an initial forecast for January of $1.80. Use a = .I, then a = .3, and finally a = .5. Using MAD, which
a is the best?
PRICE PER CHIP (S) PRICE PER MONTH MONTH CHIP (S) January 1.80 July 1.80 February 1.67 August 1.83 March 1.70 September 1.70 April 1.85 October 1.65 May 1.90 November 1.70 June 1.87 December 1.75
Transcribed Image Text:PRICE PER CHIP (S) PRICE PER MONTH MONTH CHIP (S) January 1.80 July 1.80 February 1.67 August 1.83 March 1.70 September 1.70 April 1.85 October 1.65 May 1.90 November 1.70 June 1.87 December 1.75
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