Question 3: Jane is trying to forecast demand for her store, using moving average with n-2, Fill in the missing cells with correct values and find average error for first quarter and second quarter of year 2000 A B. C Enroll- 1 Year Quarter ment Forecast Error Abs Error 1997 1 313 3. 285 4. 3. 312 4. 339 1998 1 359 2 320 8. 356 9. 4 385 10 1999 1 396 2 367 11 3 397 12 4 423 13 1 14 2000 15 2000
Q: GulfOil Company (GOC) can buy two types of crude oil: light oil at $49/barrel and heavy oil $45/barr...
A: Part (A): Decision Variable: Suppose-X1= Barrels of light oil to purchaseX2= Barrels of heavy oil ...
Q: QUESTION7 You're trying lo lay out your t-shirt business office. There are 3 rooms in a row (room 1|...
A: From the given data, the following table can be formulated. Administration Bleaching Coloring ...
Q: Analyse the advantages and disadvantages of using process layout in a manufacturing plant. Provide r...
A: Process layout is the layout of the plant that helps the business to increase efficiency by arrangin...
Q: Continue In another development in the firm’s evolving e-commerce strategy, Walmart has taken the ...
A: Walmart acquired Jet.com for $3.3 billion in 2016 to cope with Amazon's rapid growth. The organizati...
Q: show instruction how to do them. Add a new scenario to compare the profit with maximum enrollments...
A: The formulas used in the sheet: Copyable formulas: Maxwell training Orientation Te...
Q: What is the meaning of ij = K;Yi, for i = 1,2, ..., n? %3D %3D For each facility, the total quantity...
A: Transportation problems are the linear programming variant that analyzes the transportation cost and...
Q: Conduct F test on the following data Is there a difference between the three distribution
A: Here, we could see that for each category of machine, we have data distribution, to conduct the F te...
Q: The manager of Alaina's Garden Center must make the annual purchasing plans for rakes, gloves, and o...
A: Forecasting is a process of predicting the future demand based on past available information. Here, ...
Q: Compute the weighted average forecast using the following weights: 0.20, 0.30, 0.10, and 0.40
A:
Q: Item SKU A3378 has a demand that is normally distributed during the lead time, with a mean of 360 un...
A: ITEM SKUA3378 Average demand during lead time, μ=360 Standard deviation during lead time, σ =12 Prob...
Q: Maya ltd. wants to use the Centre of Gravity location technique to determine where to setup its dis...
A: Location decision is the process of selecting a suitable location for the business from different al...
Q: The organization plans to start the drive on CI to create a LEAN culture. How would you, as a leader...
A: Lean culture is a knowledge culture driven by clients focus & oriented to continuous improvement...
Q: The organizers of a conference in the Houston Convention Center are evaluating the possibility of se...
A: Given data Arrival rate (λ) = 19 attendee per hour Service rate (μ) = 14 minutes Service rate (μ)...
Q: Mathematics Apportoinment A college offers tutoring in Math, English, Chemistry, and Biology. The ...
A: Given data is Number of hires affordable = 20 Students enrolled in maths = 330 Students enrolled in ...
Q: Suyuti Auto purchases a component used in the manufacture of automobile generators directly from the...
A: EOQ or economic order quantity is a reordering technique which identify the optimal ordering quantit...
Q: On the topic of size premiums in stock returns, why do small firms may outperform large firms? Ident...
A: The size premium is defined as the extra amount of return which offers by small firms versus inve...
Q: What are the essential parts of a successful HIPAA Security Compliance Program?
A: Assuring that all workers have access to the organization's formal HIPAA and confidentiality, polici...
Q: For the past 10 quarters, House Depot, Inc. has generated sales data for 2x2 (in board feet) and the...
A: Linear regression is a forecasting model which identify the forecasting value based on the considera...
Q: xplain the term “Constrained Optimization” as Thaler used in the first chapter of Misbehaving.
A: Constrained optimization is used in mathematical optimization . It is the process of optimizing an o...
Q: Define “TIIMWOOD” and explain any one of them with example. (Do not exceed 125 words)
A: Manufacturing is the process of producing finished products and services using raw materials and res...
Q: The statement that best to describe the productivity challenge is, except. Group of answer choices ...
A: Productivity relates to the physical connection between the quantity yielded (output) & the no. ...
Q: Describe how your mastery of project management and the concepts in this textbook will enhance at le...
A: The three employability skill that can mastery the project management concepts are:
Q: Company XYZ is a movie distribution company. It has kept records of total annual movie ticket sales ...
A: Forecasting is a method which helps to predict the future based on the given identified past informa...
Q: Describe the factors influencing effective capacity.
A: Facilities, product and service, process, people, policy, operational, supply chain, and external va...
Q: Jenny Company produces two types of pants: long pants and short pants. The cost of making a pair of ...
A:
Q: Describe the three [3] types of utility under global infrastructure
A: Global Infrastructure is a platform that enables various areas throughout the globe to collaborate b...
Q: Explain how is the Agency Theory simplistic??
A: Agency theory can be stated as the principle that is generally used to determine and conclude proble...
Q: Importance of quality products and services for tourism and hospitality industry? Why?
A: Quality management is the accomplishment of managing all activities & tasks required to maintain...
Q: The Blitz Ltd.,an oil manufacturer. In their QA plan, It was mentioned that the the pouring temperat...
A: Cp and Cpk are two quality measure which representing the process capability ratio and process capab...
Q: Where will the Casino Operations Management industry be in the future ? "
A: Modern technologies like as artificial intelligence, cloud computing, and virtual worlds have all he...
Q: Strategic Planning process, CEO wants to assign the budget to each business function for functional ...
A: A Small Introduction about Planning Process Arranging includes choosing missions and targets and ...
Q: Academic advisement is unevenly provided in many high schools and colleges. There is a plan to provi...
A: There are several types of advertisements in the academic area. Academic advising is simply describ...
Q: Bag Company produces leather jackets and handbags. A jacket requires of leather and a handbag only ...
A: Let, J = Units of Jackets to be produced H = Units of handbags to be produced
Q: For the first 50 years of business, the Johnson Carpet Company produced carpets for residential use...
A: Depending on the nature of the organization and product there might be a need to classify the sales ...
Q: REPLY AS SOON AS POSIBLE, THANKS The performance of an employee is obtained through the following a...
A: Performance criteria Weight Employee score Punctuality 30 9.5 Cleanliness 20 10 Co-evalua...
Q: List and discuss potential supply chain modeling pitfalls to avoid.
A: The supply chain is the system in which people, resources, equipment, processes, and other factors a...
Q: Assuming the following: Warehouse 1 has outbound goods volume - 2,500 units Warehouse 2 has outbou...
A: Given data is
Q: The quantity to be maximized, z, is the number of viewers in thousands. Let x, be the total number o...
A: x1 = Total number of minutes allotted to the senatorx2 = Total number of minutes allotted to the con...
Q: Question 12 Taguchi's main approach to quality was to: O Ignore quality issues, hoping that numbers ...
A: Quality relates to the group of inherent effects of an object that permits satisfying expressed &...
Q: PRODUCT MIX: The JP Manufacturing Company produces two products. Resource requirements for productio...
A: Decision Variable:Suppose- A be the no. of units produced per week of the product ‘A’ B be the no...
Q: Do you think that the shift leaders are properly classified as exempt?
A: The shift leaders were taken to be exempt because they are taken to be a member of the management te...
Q: GV is a small accounting firm supporting wealthy individuals in their preparation of annual income t...
A: Given data: *As per guideline first 3 parts are answerable, repost remaining part.
Q: When crashing a project, the general guideline is to concentrate on the path with? a. The least expe...
A: A project crashing is the process of reducing the total duration of the project completion based on ...
Q: 3 The M/M/1 Queue During peak time, customers arrive at a bank teller window (with a single teller) ...
A: λ = Arrival rate = 23 customers/hrμ = Service rate = 25 customers/hr1λ=a = Inter arrival time
Q: With the aid of practical examples demonstrate how qualitative, time-series, and causal forecasts ca...
A: A Small Introduction to Forecast Demand Request anticipating is the most common way of utilizing pr...
Q: Week Passengers 440 11 446 12 451 13 455 14 464 15 996 474 17 476 18 482 a. Explain why an averaging...
A: After observing the data, we can see that there is an upward increasing trend. In case the average ...
Q: What are the primary challenges that will be encountered during Quality Assurance and Quality Contro...
A: Quality is the ability to manufacture the products and services as set standards and increase custom...
Q: People are served in a process with two resources. The first resource has a capacity of 2 people per...
A: The detailed solution is given in Step 2.
Q: Using the data given in the following table, if the seasonal index for quarter 3 is 1.12, what forec...
A: Find the Given details below: Given details: Year Quarter 2019 2020 1 120 113 2 135 13...
Q: The local driver's license center processes applications for driver's license renewals through the f...
A: Here given data:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- 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?
- 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?
- QUESTION 2:The manager of YTL Computers wants to develop next year’s quarterly forecasts of salesrevenue for its brand laptops. The sales are seasonal and the company believes that thefollowing most recent eight quarters of sales should be representative of next year’ssales: Year Quarter Sales (millions of dollars) 1 1 9.2 1 2 5.4 1 3 4.3 1 4 14.1 2 1 10.3 2 2 6.4 2 3 5.4 2 4 16.0 Determine the forecast of next year’s quarterly sales revenue for this line of laptops.Show all your workings.Question 03 Suppose you sell stylish leather bags targeting young office going people who can use your bags to carry laptops and necessary stuff. You have already launched leather bags in February of this year and now based on the demand results of last 7 months, you want to predict the demand for your bags for the month of September. Hence, you want to select the right forecasting techniques and you are considering 2 period Moving Average, Naive technique and Exponential Smoothing (use any value between .10 - .15 as the value of alpha). Now figure out the better forecasting technique among 2 period Moving Average, Naive technique and Exponential Smoothing by doing the error calculation with the help of MAD, MSE, MAPE. Period Demand 2period Moving Average (Demand forecast) Naive technique (Demand forecast) Exponential Smoothing (Demand forecast) February 70 75 ** ** March 74 78 ** ** April 80 ** ** ** May 88 ** ** ** June…QUESTION 2 The number of patients coming to the Healthy Start Maternity clinic has been increasing steadilyover the past eight months. You are provided with some historical data as follows: Month Clinic attendance (in thousands)1 3.42 3.93 4.54 5.05 5.86 5.97 6.58 6.7 a. Identify and give a brief explanation of the:-i. Dependent variableii. Independent variable b. Use simple linear regression to forecast annual demand for months 9 and 10 by using thetabular method to:-i. Derive the values for the intercept and slope. ii. Derive the linear regression equation. iii. Plot the linear regression line. iv. Develop a forecast of the clinic attendance for months 9 and 10.
- QUESTION 1 The table below shows the sales figures for a brand of shoe over the last 12 months. Months SalesJanuary 69February 75March 86April 92May 95June 100July 108August 115September 125October 131November 140December 150 a. Using the following, forecast the sales for the months up to January the following year:-i. A simple three month moving average. ii. A three period weighted moving average using weights of 1, 2 and 3. Assign thehighest weight to the most recent data. iii. Exponential Smoothing when α= .6 and the forecast for March is 350.iv. Determine which of the three forecasting technique is the most accurate using MADIf the forecasted value of the time series variable for one period is 28.5 and the actual value observed for the same period is 32, what is the forecast error for that period? Question 19 options: 3.5 2 -3.5 4Question 18 A tire company needs a forecast for studded tires in the next forecast period. The company typically uses an exponential smoothing forecast using a smoothing constant of alpha = 0.20. The demand for the most recent period was 100 and the forecast for the same period was 110. Based on this information, what is the tire company's forecast for the next period? Group of answer choices a. 100 tires b. 102 tires c. 108 tires d. 110 tires e. Impossible to determine