The controller's staff at McNichols Lubricants is responsible for preparing quarterly performance reports. One report evaluates quarter-to-quarter improvement in partial productivity of the two main inputs in the production process: base chemical and labor. Managementat McNichols is particularly interested in the results because there have been numerous efficiency improvement programs instituted atthe company recently.Data for the last two quarters follow:Barrels inputLabor-hoursBarrels of outputRequired:a. Compute the partial productivity measures for labor for quarter 1 and quarter 2.b. Compute the partial productivity measures for material for quarter 1 and quarter 2.c-1. Have the efficiency improvement programs resulted in greater labor productivity?c-2. Have the efficiency improvement programs resulted in greater material productivity?Req AComplete this question by entering your answers in the tabs below.Quarter 242,0008,40028,056QuarterReq BQuarter 1Quarter 2Quarter 128,0007,00022,820Req C1Compute the partial productivity measures for labor for quarter 1 and quarter 2.Note: Round your answers to 2 decimal places.Partial LaborProductivityReq C2< Req AReq B >

Partial productivity is a measure of productivity that focuses on the relationship between the…

Answered: Required: a. Compute the partial…

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...

See similar textbooks

Similar questions

Dave F letcher, the general manager of NorthCarolina Engineering Corporation (NCEC), thinks that his firm'sengineering services contracted to highway construction firms aredirectly rela ted to the volume of highway construction businesscontracted with companies in his geographic area. He wondersif thjs is really so, and if it is, can this information help him planhjs operations better by forecasting the quantity of his engineeringservices required by construction firms in each quarter of theyear? The following table presents the sales of his services andtotal amounts of contracts for hjghway construction over the pasteight quarters:…
The Holt method (exponential smoothing with trend andwithout seasonality) is being used to forecast weekly carsales at TOD Ford. Currently, the base is estimated to be 50cars per week, and the trend is estimated to be 6 cars perweek. During the current week, 30 cars are sold. Afterobserving the current week’s sales, forecast the number ofcars to be sold during the week that begins three weeks afterthe conclusion of the current week. Use a b 0.3.
Graphing: Following are the expenses of Office A for the Year 2005Present the data in an appropriate graph.
Canton Supplies, Inc., is a service firm that employs approximately 100 people. Because of the necessity of meeting monthly cash obligations, the chief financial officer wants to develop a forecast of monthly cash requirements. Because of a recent change in equipment and operating policy, only the past seven months of data are considered relevant. The change in operations has had a great impact on cash flow. What forecasting model do you recommend? Use the Moving Average and Exponential Smoothing Excel templates or other Excel tools to help you answer this question. Cash Required Cash Required Month ($1,000) Month ($1,000) 1 186 5 233 2 219 6 241 3 216 7 204 4 270 Find the best number of months to use in a moving average forecast based on MSE. Do not round intermediate calculations. Round your answers to two decimal places. Number of months MSE 2 3 4 The model is the best. Find the best single exponential smoothing model by…
The following table represents sales data for milk (in hundred liters) sold by a grocery.Do the computations to fill out the table and answer the following questions:1. Using MAD as the criterion, which of the following models would you use for thegiven time series data? Why?A. Naïve approach;B. 5-month SMA model;C. WMA model with weights 0.1, 0.3, and 0.6; orD. ES model with α = 0.5 and a forecast of 3,500 liters in the first month.NOTE: In answering Item 1, mention the whole description of the model; i.e., not just“SMA model”, but “SMA model with n = ...”; not just “WMA model”, but “WMA modelwith weights ...”; not just “ES model”, but “ES model with α = ...”.2. Interpret the MAD of the most accurate among the forecasting models above.3. Based on your decision in Item 1, what should be the forecast for Month 11?
Davis Stores sells clothing in 15 stores located around the southwestern United States. The managers at Davis are considering expanding by opening new stores and are interested in estimating costs in potential new locations. They believe that costs are driven in large part by store volume measured by revenue. The following data were collected from last year’s operations (revenues and costs in thousands of dollars). Store Revenues Costs 101 $4,120 $4,244 102 2,247 2,934 103 5,768 5,211 104 4,022 4,048 105 2,944 3,736 106 4,063 3,389 107 6,914 5,059 108 1,809 2,474 109 5,516 4,768 110…
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMAND Period Demand F1 F2 1 68 61 60 2 75 67 66 3 70 75 70 4 74 69 67 5 69 74 72 6 72 67 78 7 80 74 78 8 78 76 80 b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.)
Tom Glass forecasts electrical demand for the FlatlandsPublic Power District (FPPD). The FPPD wants to take itsComstock power plant out of service for maintenance whendemand is expected to be low. After shutdown, performingmaintenance and getting the plant back on line takes twoweeks. The utility has enough other generating capacity tosatisfy 1,550 megawatts (MW) of demand while Comstockis out of service. Table 8.5 shows weekly peak demands(in MW) for the past several autumns. When next in year 6should the Comstock plant be scheduled for maintenance?
Sarah has been custom manufacturing sweaters now for 7 years. Her annual sales are shown below. Year Sales 1 178 2 215 3 233 4 301 5 337 6 330 7 361 What are her forecasted sales for year 8 using a 3 year moving average? What are her forecasted sales for year 8 using a 5 year weighted average where w1=.4, w2=.3, w3=.15, w4=.1, w5=.05? What are her forecasted sales for year 8 using exponential smoothing? Assume year 7 forecast was 323. Select your own alpha. Which forecast method is the best for Sarah to use based on MAD? Why?
The following two demand sets are to be used to test two different basic exponential smoothingmodels. The first model uses 0.1, and the second uses 0.5. In both cases, the modelshould be initialized with a beginning forecast value of 50; that is, the ESF forecast for period 1made at the end of period 0 is 50 units. In each of the four cases (two models on two demandsets), compute the average forecast error and MAD. What do the results mean?Demand Set I Demand Set IIPeriod Demand Period Demand1 51 1772 46 2833 49 3904 55 4225 52 5106 47 6807 51 7168 48 8199 56 92710 51 10 7911 45 11 7312 52 12 8813 49 13 1514 48 14 2115 43 15 8516 46 16 2217 55 17 8818 53 18 7519 54 19 1420 49 20 16
Read the following passage and answer the question that follows Quincy Snodgrass Enterprises—Forecasting Quincy Snodgrass is an entrepreneur and a lover of the outdoors. He has worked for various companies since he graduated college with his business administration degree in management. Over the years, he has saved every extra penny and now has the starting capital he needs; consequently, he plans to open his own business. Quincy plans to open a landscaping business. The primary services he’ll offer are grass cutting, edging, and bush trimming. Obviously, this will only provide income in the spring, summer, and early fall. Therefore, he plans to offer snow removal in the winter. His goal is to continue to provide those baseline services and expand into actual landscaping work. Quincy’s initial challenge is to develop a forecast of how many customers he’ll have each month. This is essential to determine if he needs to hire any additional labor throughout the season. Unfortunately, none…
Read the following passage and answer the question that follows Quincy Snodgrass Enterprises—Forecasting Quincy Snodgrass is an entrepreneur and a lover of the outdoors. He has worked for various companies since he graduated college with his business administration degree in management. Over the years, he has saved every extra penny and now has the starting capital he needs; consequently, he plans to open his own business. Quincy plans to open a landscaping business. The primary services he’ll offer are grass cutting, edging, and bush trimming. Obviously, this will only provide income in the spring, summer, and early fall. Therefore, he plans to offer snow removal in the winter. His goal is to continue to provide those baseline services and expand into actual landscaping work. Quincy’s initial challenge is to develop a forecast of how many customers he’ll have each month. This is essential to determine if he needs to hire any additional labor throughout the season. Unfortunately, none…

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS