The output distribution form(s) of the input distribution(s) are generally fairly straightforward to predict (s). FALSE OR TRUE!!
Q: Both time series and causal forecasting assume that the past relationship between demand and the…
A: Time series forecasting refers to the prediction of future events of a business. According to the…
Q: MT makes small camping and snowmobile trailers. The demand for camping trailers occurs between…
A: Since we only answer up to 3 sub-parts, we'll answer the first 3. Please resubmit the question and…
Q: The mean annual earning for U.S. workers with advanced degrees is $80,977 with a standard deviation…
A: Note, Since you have posted multiple subparts in the same questions, we will be answering the first…
Q: In year 2010, a saop manufacturer forecasts that demand of 2011 will be 200 lakhs of units of saop.…
A: Forecasting is a process that uses historical data as inputs to make informed estimates that are…
Q: snip
A: Y = 200.12 + 24.9X X is the population of the community Y is the total annual fresh water…
Q: The following data relate the sales figures of the bar in Mark Kaltenbach's small bed-and-breakfast…
A: Given data is
Q: specimens of asphalt be suitable for the intended pavement application, the mean stabilized…
A: There are a total of 15 specimens, for each specimen, we have the value of stabilized viscosity,…
Q: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown…
A: Formula used- 3-period moving average forecast=At-1+At-2+At-33 3-period weighted moving average…
Q: Precision Parts is a job shop that specializes in producing electric motor shafts. The average shaft…
A: Formula:
Q: Thamer Almutairi, owner of Almutairi's DepartmentStore, has used time-series extrapolation to…
A: Given data
Q: Don's Hardware uses a Periodic Order System to place once monthly orders for the majority of the…
A: In Periodic review method, we order for an amount (Q) equal to the target inventory level (TI),…
Q: The following table gives the number of pints of type A blood used at Damascus Hospital in the past…
A: Given that: Week of Pints used Aug-31 345 Sep-07 370 Sep-14 410 Sep-21 378 Sep-28 368…
Q: Emenyi Company Limited is considering using Markov analysis to analyze brand switching between three…
A: Given information: The transition matrix of moving between the brands of each month is given,
Q: The following table gives the number of pints of type A blood used at Damascus Hospital in the past…
A: Find the Given details below: Given details: Week of Pints Used August 31 360 September 7…
Q: Forecasts affect planning but not the other management functions.
A: This do not require any introduction
Q: From several years’ records, a fish market manager has determined that the weight of deep sea bream…
A: The z-score is used to measure the statistical significance of a data point. The z-score is…
Q: Suppose that you work at a local food manufacturer and are given the task of investigating your…
A:
Q: snip
A: Given that; Demand 4 week ago = 25 3 week ago = 36 2 week ago = 33 Last week = 28 α = 0.3
Q: Which of the following is NOT true about the distribution function for a normaldistribution?a. It…
A: The statement which is not true about the distribution function for a normal distribution is given…
Q: Prime Metal & Alloy Industries manufactures parts for an aircraft company. It uses a computerized…
A: Given Information: Upper specification limit (USL) = 5.488 inches Lower Specification limit (LSL) =…
Q: .A 45 kW rated solar power system has its power output and the Solar irradiance on the PV system…
A: Find the Given details below: Given details: Solar Irradiance on the PV system (KW/m2) Power…
Q: Lori Cook has developed the following forecasting model: ^y=45.0+4.20x,…
A: Using the given Forecasting model the forecast for air conditioner at various level of temperature…
Q: Bill Hardgrave, production foreman for the Virginia Fruit Company, estimates that the average sales…
A: Standard deviation refers to the technique used to measure the variation of a set of values. The…
Q: A carpenter is making doors that are 2058 millimeters tall. If the doors are too long they must be…
A: The following information is given in the question: The carpenter is making doors that are 2058…
Q: The seasonality index is based on demand fluctuations that are additive. True or false?a. Trueb.…
A: Forecasting is a methodology used to forecast the future sales based on the historic data or values.…
Q: Judah is asked to think of a video game. Instead of thinking of any specific one, Judah combines…
A: It's the inner thought of the Judah whil leads him combine various types of video games because he…
Q: Sandy James thinks that housing prices have stabilized in the past few months. To convince her boss,…
A: Obtain the mean and standard deviation using MINITAB procedure. MINITAB procedure: Step 1:…
Q: Do you agree that all students in tertiary level (college, university, etc.) need to take at least…
A: The employee can be defined as the person who is hired by an organization to perform a specific role…
Q: For the Petroco Service Station problem, what would your excel file that shows exponentially…
A: Forecasting refers to predictions for future outcomes based on previous years' trends. In businesses…
Q: Eddies restaurant collected the following data on the relationship between advertising and sales at…
A: Formula to calculate the least-squares method: y=bo+b1x.........................(1) where,…
Q: Seasonal patterns often occur in time series. The ratio-to-moving-average method facilitates the…
A:
Q: Quarterly demand for Ford F150 pickups at a New York autodealer is forecast with the equation:yn =…
A: Given data Where, X= quarters Yn= Quarterly demand Quarter I of year 1 is 0 Quarter II of year 1…
Q: A company that supplies gasoline to a city has recorded the weekly usage (tons/week) for the past 3…
A: Find the Given details below: Given Details: Week Demand (tons) 1 1174.5 2 1316.2 3 1197…
Q: A company has observed the following demand during the past 10 months for one of its popular…
A: *As per guidelines for multipart questions first three parts are answerable, please repost the…
Q: Forecasting is a prediction rather than a reality
A: The term forecasting is a technique that uses the historical data as inputs to make the informed…
Q: The coefficient of correlation for the model is 0.63. a) Use the model to predict the selling price…
A: Below is the solution:-
Q: 4. ABC Dog Food Company located in Ottawa sells large bags of dog food to warehouse clubs. ABC uses…
A: The detailed solution is given in Step 2.
Q: Discuss the differences between a causal model and a time-series model. Be sure to provide examples…
A: Causal model of forecasting is an approach that would predict or forecast the futuristic events…
Q: The director of research and development is testing a new drug. She wants to know if there is…
A: H0 : = 363
Q: Define Ogive 1 O A percent frequency distribution O A graph of a cumulative distribution A tabular…
A: Ogive: Ogive is defined as a frequency distribution graph based on discrete and…
Q: An equipment which costs $15000 has to be replaced with a new equipment. The follovg data have been…
A: Find the given details below: Given details: Year Resale Value Annual maintenance cost 1…
Q: The number of auto accidents in Athens, Ohio is related to the regional number of regisgtered…
A: Given values: Regression formula; y=a+b1X1+b2x2+b3X3 where, Y = number of automobile accidents a =…
Q: A restaurant wants to forecast its weekly sales. Historical data (in dollars) for 15 weeks are…
A: 1. The mean squared error (MSE) for two periods moving average forecast can be calculated as…
Q: A normally distributed random variable has a mean of 240 and a standard deviation of 172 what is the…
A: The answer is as below:
The output distribution form(s) of the input distribution(s) are generally fairly straightforward to predict (s).
FALSE OR TRUE!!
Step by step
Solved in 2 steps
- Dilberts Department Store is trying to determine how many Hanson T-shirts to order. Currently the shirts are sold for 21, but at later dates the shirts will be offered at a 10% discount, then a 20% discount, then a 40% discount, then a 50% discount, and finally a 60% discount. Demand at the full price of 21 is believed to be normally distributed with mean 1800 and standard deviation 360. Demand at various discounts is assumed to be a multiple of full-price demand. These multiples, for discounts of 10%, 20%, 40%, 50%, and 60% are, respectively, 0.4, 0.7, 1.1, 2, and 50. For example, if full-price demand is 2500, then at a 10% discount customers would be willing to buy 1000 T-shirts. The unit cost of purchasing T-shirts depends on the number of T-shirts ordered, as shown in the file P10_36.xlsx. Use simulation to determine how many T-shirts the company should order. Model the problem so that the company first orders some quantity of T-shirts, then discounts deeper and deeper, as necessary, to sell all of the shirts.Use @RISK to analyze the sweatshirt situation in Problem 14 of the previous section. Do this for the discrete distributions given in the problem. Then do it for normal distributions. For the normal case, assume that the regular demand is normally distributed with mean 9800 and standard deviation 1300 and that the demand at the reduced price is normally distributed with mean 3800 and standard deviation 1400.Suppose that a regional express delivery service company wants to estimate the cost of shipping a package (Y) as a function of cargo type, where cargo type includes the following possibilities: fragile, semifragile, and durable. Costs for 15 randomly chosen packages of approximately the same weight and same distance shipped, but of different cargo types, are provided in the file P13_16.xlsx. a. Estimate a regression equation using the given sample data, and interpret the estimated regression coefficients. b. According to the estimated regression equation, which cargo type is the most costly to ship? Which cargo type is the least costly to ship? c. How well does the estimated equation fit the given sample data? How might the fit be improved? d. Given the estimated regression equation, predict the cost of shipping a package with semifragile cargo.
- The management of a technology company is trying to determine the variable that best explains the variation of employee salaries using a sample of 52 full-time employees; see the file P13_08.xlsx. Estimate simple linear regression equations to identify which of the following has the strongest linear relationship with annual salary: the employees gender, age, number of years of relevant work experience prior to employment at the company, number of years of employment at the company, or number of years of post secondary education. Provide support for your conclusion.The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The file P13_19.xlsx contains the weekly sales of a particular brand of paper towels at a supermarket for a one-year period. a. Using a span of 3, forecast the sales of this product for the next 10 weeks with the moving averages method. How well does this method with span 3 forecast the known observations in this series? b. Repeat part a with a span of 10. c. Which of these two spans appears to be more appropriate? Justify your choice.
- The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a particular company. The company suspects that except for random noise, its sales are growing by a constant percentage each month and will continue to do so for at least the near future. a. Explain briefly whether the plot of the series visually supports the companys suspicion. b. By what percentage are sales increasing each month? c. What is the MAPE for the forecast model in part b? In words, what does it measure? Considering its magnitude, does the model seem to be doing a good job? d. In words, how does the model make forecasts for future months? Specifically, given the forecast value for the last month in the data set, what simple arithmetic could you use to obtain forecasts for the next few months?Suppose you have invested 25% of your portfolio in four different stocks. The mean and standard deviation of the annual return on each stock are shown in the file P11_46.xlsx. The correlations between the annual returns on the four stocks are also shown in this file. a. What is the probability that your portfolios annual return will exceed 30%? b. What is the probability that your portfolio will lose money during the year?
- Play Things is developing a new Lady Gaga doll. The company has made the following assumptions: The doll will sell for a random number of years from 1 to 10. Each of these 10 possibilities is equally likely. At the beginning of year 1, the potential market for the doll is two million. The potential market grows by an average of 4% per year. The company is 95% sure that the growth in the potential market during any year will be between 2.5% and 5.5%. It uses a normal distribution to model this. The company believes its share of the potential market during year 1 will be at worst 30%, most likely 50%, and at best 60%. It uses a triangular distribution to model this. The variable cost of producing a doll during year 1 has a triangular distribution with parameters 15, 17, and 20. The current selling price is 45. Each year, the variable cost of producing the doll will increase by an amount that is triangularly distributed with parameters 2.5%, 3%, and 3.5%. You can assume that once this change is generated, it will be the same for each year. You can also assume that the company will change its selling price by the same percentage each year. The fixed cost of developing the doll (which is incurred right away, at time 0) has a triangular distribution with parameters 5 million, 7.5 million, and 12 million. Right now there is one competitor in the market. During each year that begins with four or fewer competitors, there is a 25% chance that a new competitor will enter the market. Year t sales (for t 1) are determined as follows. Suppose that at the end of year t 1, n competitors are present (including Play Things). Then during year t, a fraction 0.9 0.1n of the company's loyal customers (last year's purchasers) will buy a doll from Play Things this year, and a fraction 0.2 0.04n of customers currently in the market ho did not purchase a doll last year will purchase a doll from Play Things this year. Adding these two provides the mean sales for this year. Then the actual sales this year is normally distributed with this mean and standard deviation equal to 7.5% of the mean. a. Use @RISK to estimate the expected NPV of this project. b. Use the percentiles in @ RISKs output to find an interval such that you are 95% certain that the companys actual NPV will be within this interval.Use @RISK to draw a binomial distribution that results from 50 trials with probability of success 0.3 on each trial, and use it to answer the following questions. a. What are the mean and standard deviation of this distribution? b. You have to be more careful in interpreting @RISK probabilities with a discrete distribution such as this binomial. For example, if you move the left slider to 11, you find a probability of 0.139 to the left of it. But is this the probability of less than 11 or less than or equal to 11? One way to check is to use Excels BINOM.DIST function. Use this function to interpret the 0.139 value from @RISK. c. Using part b to guide you, use @RISK to find the probability that a random number from this distribution will be greater than 17. Check your answer by using the BINOM.DIST function appropriately in Excel.The file P13_21.xlsx contains the weekly sales of rakes at a hardware store for a two-year period. Use the moving averages method, with spans of your choice, to forecast sales for the next 30 weeks. Does this method appear to track sales well? If not, what might be the reason?