Seatwork Compute for MAD, MSE and MAPE using Moving Average Model (past 3 Weeks), В. А. Exponential Smoothing Model (a = 0.2) What is your sales forecast for Period 8 using A and B? С. Period Actual Sales Forecast Error |Error| Error |Error %| 39 2 44 3 40 4 45 38 6 43 7 39 MAD MSE МАРЕ
Q: LahLa Mub Delivery a logistics operator process the packages for shipment. The items arrive at the…
A: ARRIVAL RATE = 50/hr SERVICE RATE = 1/min
Q: Problem. A garment factory manufactures men's shirts and women's blouses. The production process…
A: Given data is Workers in cutting department = 25 Workers in sewing department = 35 Workers in…
Q: olving quality-related problems in the organisation is as much about applying the tools and…
A: Organizational problem solving is about more than just applying the right tools and techniques. It's…
Q: What are the solutions from a post normal perspective on increasing the healthcare capacity in the…
A: It is important to remember that post-normal perspectives emphasize the importance of flexibility…
Q: Read the situation below on decision making and see how it can help Eng’r. Estabillo solve his…
A: As per the given case details, Mr. R is the founder of a construction firm. The firm has been…
Q: Q2: Discuss the three types of data in an enterprise system and how they are .
A: Each business has little or more data to handle. Nowadays with the use of more technology, the data…
Q: AD, M Moving Average Model (past 3 Weeks), A. B. Exponential Smoothing Model (a = 0.2) с. What is…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: Students arrive randomly at the counter of the CIT Library. There is only one library assistant,…
A: Given data: Average arrival rate λ= 12 students per hour Average service rate μ = 20 students per…
Q: Please explain the third phrase of this question, thank you.
A: The global media market is a huge industry, with more than $1 trillion of revenue generated…
Q: Top Hatz Inc. makes a variety of ski hats. The average demand for the ‘Nordic Dream’ hat is 125 per…
A: Given that the average demand for hats per week=125 Considering that there are 52 weeks in a year,…
Q: Please explain the fundamental shift in quality attention in manufacturing from the Industrial…
A: The Industrial Revolution was a period of dramatic change in manufacturing that occurred in the late…
Q: A procedure in one of the company's functional areas is now being developed using Internet…
A: E-Business permits organizations to interface their inside and outer cycles all the more…
Q: An online footwear firm Shoe-n-co has four regional warehouses. Demand at each warehouse is normally…
A: Given, Average weekly demand, AVG = 10000 Standard deviation, STD= 2000 Service level, α =1-5% =95%…
Q: A fabrication cell at Spradley's Sprockets uses the pull method to supply gears to an assembly…
A: Given: Average daily demand d 624 Average waiting time per unit w 1.6 Average processing time…
Q: Orlando Manufacturers has decided to use a c-Chart to monitor the number of defects per file cabinet…
A: Given, Number of samples = 9 Sum of defects = 11+8+7+14+5+11+4+6+13 = 79 c-bar = 79/9 = 8.778 Alpha…
Q: How should Walmart rationalize its seafood supply chain to reduce costs and promote sustainability
A: Walmart purchased around $750 million in seafood from different sources around the globe in 2007.…
Q: 3. JRT Industries manufactures automatic voltage regulators at a labor cost of P 85 material cost of…
A: Break even point is the point at which the production cost and production revenue are equal in an…
Q: Compute the efficiency rating.
A: A project schedule network diagram shows the sequence of the task that is performed to complete a…
Q: According to the U.N. High Commiss for Refugees, the number of displace people worldwide in 2020 is…
A: ANSWER : According to the UN high commissioner report number of displaced people world wide are…
Q: How would you define an organization and why do organizations exist? What are the common features…
A: Organization: It is a well-defined organisation with a clear authority and duty structure.It clearly…
Q: Question 9 Given the below network, what is the maximum flow from node 1 to node 6? 12 20 10 18 16…
A: Maximum flow issues in optimization theory involve finding a viable flow through a flow network that…
Q: Which data source is most likely to provide reliable data? Question 3 options: An…
A: Answer: Option CA review by a consumer group..
Q: Which of the following is a product or service related activity? a) making sales calls b)…
A: A product can be defined as any tangible item that is made available for the consumer or use.…
Q: ate a possible work breakdown structure for the following scenarios: 1. Your project management…
A: As a feature of the venture the executives arranging process it is essential to make a work…
Q: Demand for walnut fudge ice cream at the Sweet Cream Dairy can be approximated by a normal…
A: Weekly demand (d) = 35 gallons per week Standard deviation (σ) = 8.48 gallons per week Expected…
Q: 9. The Ace Manufacturing Company has orders for three similar products: Orders Product (units) A…
A: Given data is The capacity is more than orders so in the linear programming model there is no need…
Q: b) Given the following data: Month Sales Month Sales 25.0 July August September 38.0 35.0 32.0…
A: Find the Given details below: Given details: Month Sales January 25 February 31 March 29…
Q: Talk about the three things that need to be addressed in the section on work that has to be done in…
A: Project management is the set plan that is in the form of a document. It defines all about the…
Q: A nutritionist is planning a menu consisting of two main foods A and B. Each ounce of A contains 2…
A: Objective Functions and Constraints: Based on the given details, the objective…
Q: Explain in detail the sources of variability in a supply chain (5 sources)
A: Variability is a phrase used in the Supply Chain to define the amount of irregularity, or…
Q: What are the uses of tables,diagrams, charts and graphs
A: Diagrams play a key role in the representation of statistical data. The geometrical figures such as…
Q: determine the time between orders in working days.
A: EOQ stands for economic order quantity. It is a company's optimal order quantity that undervalues…
Q: analyse how the principles of Just in Time and Lean have been implemented within the PRODUCTION and…
A: The implementation of Just in Time and Lean principles within a fast food restaurant like Company M…
Q: NOU are we more kely to negotiate about delivery items? Boteneck gment QUESTION 9 In which supplier…
A: The benefit of Supplier Segmentation for the supply base suggests organizing suppliers by analysis…
Q: A customer calls requesting that a service technician be sent to her residence immediately to fix…
A: Services operations management is described as the process of providing services to customers. It is…
Q: Which of the following statements is true regarding the sensitivity analysis approach to investment…
A: Sensitivity analysis is a risk assessment techniques of capital budgeting. Sensitivity analysis is…
Q: Crash the project until no more crash can be performed How much it would cost The new critical…
A: Proect crashing is one of the techniques used in the calculation of the duration of the critical…
Q: What are the three sorts of projects that may be classified according to how much change they…
A: Depending on how far changes we require, three sorts of projects could be categorized, these…
Q: s, assess the operations management practices within a restaurant
A: There is seldom a moment at a restaurant when there is nothing that requires attention. Perhaps it…
Q: Define the following and give an example per item. 1. Leniency Error 2. Central Tendency Error 3.…
A: Note - Hi! Thank you for the question, As per the honour code, we are allowed to answer three…
Q: Differentiate between speculative and event risks.
A: Risk management can be stated as the approach of recognizing, evaluating, and handling or…
Q: nature of the issue, a thorough plan for limiting the effect of the risk might take numerous forms?
A: Risk is something that every company must deal with to some degree. Along with its day-to-day…
Q: a. Develop a network representation of this problem. b. Develop a linear programming model that can…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Consider the transportation infrastructure in Asia. Which of the following factors constrain the…
A: The supply chain in the international trade facilitates business processes to be managed &…
Q: [B] Solve the transportation problem (find initial basic solution with VAM and optimal solution…
A: The transportation model is used to calculate the minimum cost of the route by selecting different…
Q: QI: For the project listed below, find the following items. 1- Total project finishing time 2-…
A: As per our guidelines, we are supposed to answer only three sub-parts if multiples sub-parts are…
Q: b) Explain your approach to improve project delivery with the adoption of project ‘operational…
A: Since you have asked multiple questions, we will solve any one for you, hence solving the first…
Q: In what ways might working on a unique project inside one's company improve one's career? Risks…
A: Working on any project comes with some inherent risks. There is always the chance that the project…
Q: Every summer Marianna offers a special convertible roof on the Sport Coupe model. The demand for the…
A:
Q: Two recent graduates have decided to enter the field of microcomputers. They intend to manufacture…
A: Objective Functions and Constraints: Based on the given details, the objective…
Step by step
Solved in 4 steps with 8 images
- 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?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…
- Sara manages one of the Albireds shoe lines, and is working to improve the group's forecasting capabilities so that production will more closely match actual demand (that's the goal, at least!). Work our the exponential smoothing with a smoothing constant equal to 0.2, (seed the model with a January forecast = 16,000). A weighted moving average using 0.6(t-1), 0.3(t-2) and 0.1(t-3)1. Omar has heard from some of his customers that they will probably cut back on order sizes in thenext quarter. The company he works for has been reducing its sales force due to falling demand andhe worries that he could be next if his sales begin to fall off. Believing that he may be able to convince his customers not to cut back on orders, he turns in an optimistic forecast of his next quartersales to his manager. What are the pros and cons of doing that?Medanalysis, Inc., provides medical laboratory services to patients of Health Providers, a group of 10 family-practice doctors associated with a new health maintenance program. Managers are interested in forecasting thenumber of blood analysis requests per week. Recent publicity about the damaging effects of cholesterol on theheart has caused a national increase in requests for standard blood tests. The arrivals over the last 16 weeks aregiven in Table 8.1. What is the forecasted demand for the next three periods?
- 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 = ...”.This a 4 part question that am confused about. Please show the work by hand not excel. 4-1 Sales of a particular product (in the thousands of dollars) for the years 2015 through 2018 have been $48,000, $64,000, $67,000 and $83,000 respectively. (a)What sales would you predict for 2019, using simple four-year moving avaerage? (b) What sales would you predict for 2019, using a weighted moving average with weights of 0.50 for the immediate preceding year and 0.3, 0.15, and 0.05 for the three years before that? (I am able to calculate and know the answer for (a) $65,000 and (b) $73,000. What I don't understand is the following : 4-2 Using exponential smoothing with a weight of 0.6 on actual values: (a) If sales are $45,000 and $50,000 for 2017 and 2018, what would you forecast for 2019 ? (The first forecast is equal to the value of the preceding year.) (b) Given this forecast and actual 2019 sales of $53,000, what would you then forecast for 2020? 4-3 In Problem 4-1, taking…Problem 1 Forecasting • All analysis and calculations and report must be done in a single (ONE) Excel file.• Put your name at the top of the worksheet.• Make Excel do all of the calculations. (Instructor must be able to see your cell-reference formulas.)• Include report/answers below the forecasting calculations. o Make sure answers are clear, complete and easy to find. o Your report must include: a. Presentation of forecasts b. Explanation of why you chose each of the methods 1. Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten years oftourist visits to the area. The following data has been gathered on number of tourists who signed into the localinformation center. Year Number of tourists1 7002 2483 6334 4585 14106 15887 16298 13019 145510 1989 Tom is interested in implementing a forecasting system and is…
- Corporate triple-A bond interest rates for 12 consecutive months follow. 9.6 9.4 9.5 9.7 9.9 9.8 9.8 10.6 10.0 9.8 9.6 9.6 (b) Develop three-month and four-month moving averages for this time series. (Round your answers to two decimal places.) Month Time SeriesValue 3-Month MovingAverage Forecast 4-Month MovingAverage Forecast 1 9.6 2 9.4 3 9.5 4 9.7 5 9.9 6 9.8 7 9.8 8 10.6 9 10.0 10 9.8 11 9.6 12 9.6 (c) Using the more accurate forecast, what is the moving average forecast for the next month? (Round your answer to two decimal places.)a. What is your forecast for December of Year 4, making period 1 as the starting period for the regression? b. The actual demand for period 48 was just learned to be 5,100. Add this demand to the Inputs file and change the starting period for the regression to period 2 so that the number of periods in the regression remains unchanged. How much or little does the forecast for period 49 change from the one for period 48? The error measures? Are you surprised?c. Now change the time when the regression starts to period 25 and repeat the process. What differences do you note now? What forecast will you make for period 49?Exponential Smoothing, Exponentially Smoothed MAD, and Tracking SignalThe XYZ Company was flooded by a thunderstorm and lost part of its forecasting data.Positions in the table that are marked [a], [b], [c], [d], [e], and [ f ] must be recalculated from the remaining data.