The distribution of daily demand for rental trucks at a vehicle rental company is shown in the following table: Relative Frequency Demand 0.13 0.15 1 0.17 2 0.11 3 0.12 4 0.07 0.25 Trucks are rented by the day only and the company makes $16 per rented truck per day. The rental company keeps four trucks at this location. Assuming that the stocking decision is optimal, what is the implied range of excess cost per truck per day? a. O and 107.077 b. 7.52941 and 12.5714 c. 5.33333 and 7.52941 d. 12.5714 and 19.5556 e. 41.1429 and 78.1176
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- The production planning period for flat-screen moni-tors at Louisiana’s Roa Electronics, Inc., is 4 months. Cost data are as follows:Regular-time cost per monitor $ 70Overtime cost per monitor $110Subcontract cost per monitor $120Carrying cost per monitor per month $ 4 For each of the next 4 months, capacity and demand for flat-screen monitors are as follows: PERIOD MONTH 1 MONTH 2 MONTH 3 a MONTH 4Demand 2,000 2,500 1,500 2,100CapacityRegular time 1,500 1,600 750 1,600Overtime 400 400 200 400Subcontract 600 600 600 600aFactory closes for 2 weeks of vacation.CEO Mohan Roa expects to enter the planning period with 500monitors in stock. Back ordering is not permitted (meaning, forexample, that monitors produced in the second month cannot beused to cover first month’s demand). Develop a production planthat minimizes costs using the transportation method.ABC Company has decided to use 20 test markets to examine the sensitivity of demand for its new product, Hand Sanitizer, to various prices, as shown in the following table. Each market had approximately the same level of business activity and population. Test Market Quantity sold (Thousands of Pens) Price Charged (cent) 1 20 50 2 21 50 3 19 55 4 18 60 5 20 60 6 14 65 7 16 65 8 20 70 9 12 70 10 14 80 11 12 70 12 10 70 13 14 65 14 16 90 15 18 45 16 16 70 17 20 65 18 12 80 19 18 70 20 10 50 Q.1. Using a linear regression model, estimate the demand function for ABC Company’s new product, Hand sanitizer. Q.2. Interpret the coefficient value of the independent variable of the estimated demand function. Q.3. What will be the predicted/estimated sale for each price shown in column 2? Q.4. Find the prediction interval at…Given the following data on the number of pints of ice cream sold at a local ice cream store for a 10-period time frame period. Demand 1 200 2 245 3 190 4 270 5 280 6 300 7 320 8 340 9 320 10 280 Use a 2-period moving average to forecast demand for period 11 Group of answer choices 310 330 300 290
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- Observations of the demand for a certain part stocked at a parts supply depot during the calendaryear 2013 were: Month Demand Month Demand Jan 89 july 223 Feb 57 august 286 mar 144 sept 212 april 221 oct 275 may 177 nov 188 june 280 dec 312 a) Using a four-month moving average, determine the one-step-ahead forecast for Julythrough December 2013.b) Using a four-month moving average, determine the two-step-ahead forecast for Julythrough December 2013.c) Obtain the MAD for the forecasts obtained in the above sections. Which method gavebetter results? Based on forecasting theory, which method should have given betterresults?The manager of the purchasing department of a large banking organization would like to develop a model to predict the amount of time it takes to process invoices. Data are collected from a sample of 30 days with the following results: Relating time to invoices processed. Day Invoices Processed Completion Time (hours) Day Invoices Processed Completion Time (hours) 1 149 2.1 16 169 2.5 2 60 1.8 17 190 2.9 3 188 2.3 18 233 3.4 4 19 0.3 19 289 4.1 5 201 2.7 20 45 1.2 6 58 1.0 21 193 2.5 7 77 1.7 22 70 1.8 8 222…The accompanying dataset shows the monthly number of new car sales in the last two years. Implement the Holt-Winters multiplicative seasonality model with trend. Find the best combination of α, β, and γ to minimize MSE. α=0.2, β=1, γ=0.2; α=0.6, β=0.4, γ=0.6 First find the MSE for each set of values, α, β, and γ. (Round to the nearest whole number as needed.) α β γ MSE 0.2 1 0.2 enter your response here 0.6 0.4 0.6 enter your response here Month Period Units Jan 1 39,808 Feb 2 40,081 Mar 3 47,440 Apr 4 47,297 May 5 49,210 Jun 6 51,479 Jul 7 46,466 Aug 8 45,208 Sep 9 44,801 Oct 10 46,990 Nov 11 42,161 Dec 12 44,187 Jan 13 42,227 Feb 14 45,421 Mar 15 54,076 Apr 16 50,926 May 17 53,572 Jun 18 54,921 Jul…