Tournament time A high school's lacrosse team is planning to go to Buffalo for a three-day tournament. The tournament's sponsor provides a list of available hotels, along with some information about each hotel. The following table displays data about hotel options. Identify the individuals and variables in this data set. Classify each variable as categorical or quantitative. Distance to site Room Exercise Internet Room rate Hotel Pool room? (Siday) Restaurants (mi) service? (Siday) Comfort Out Y 82 Y 149 Inn Fairfield In 8.3 N 119 Inn & Suites Baymont Out Y 3.7 Y 60 Inn & Suites Chase Out 15 1.5 N 139 Suite Hotel Court-yard in Y 1 02 Dinner 114 Hilton In Y 10 0.1 Y 156 Marriott in Y 9.95 2 0.0 Y 145 ndividual (Title - what are we talking about?): Categorical Variable(s) Quantitative Variable(s)
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- Question 2Chad and James are two veteran sales executives who have been working for a well-established car distributor selling new cars. About six years ago, believing that there were good prospects in starting a business in selling used cars, both gentlemen left their employment to venture out.Since the beginning of their company, sales had been quite positive, but the owners now wanted to know more about future sales using an appropriate forecasting method. For a start, they wanted to focus on the quarterly sales of a popular brand of used cars.The sales figures over the last five years were used for the forecast. They are presented in the table below. (c) Explain why forecasting, despite its usefulness or sophistication, should only be considered a useful tool for decision making in any business. What are other factors that need to be considered? (d) The business of selling cars in Singapore, like many businesses, is subject to uncertainties.Discuss three (3) external factors,…15 18 1 Kurtosis is an indicator used to determine whether a distribution is left-skewed or right-skewed. the flatness or peakedness of a distribution. Owhether a distribution is normal or non-normal. the asymmetry and deviation from a normal distribution. Question 3 Listen Which tool should be used during the Improve stage to identify the impact a project recommendation will have on the organization?Question A reputable FMCG company is holding its Annual Sales Conference on January 30th 2021 for its New Year sales plan. The company is interested in launching new product beside its existing product lines. The new product will be novel in the history of the company. explain what FMCG company seeks for and following for above mentioned firm, with reason/limitations specified for the FMCG company. Discuss the techniques of forecasting that will be used by the company for its existing and new products. Explain specific type and reason for using those techniques. Also identify the limitations of these techniques. Use word/Excel
- Operations Management CH 3 Question 14 Harlen Industries has a simple forecasting model: Take the actual demand for the same month last year and divide that by the number of fractional weeks in that month. This gives the average weekly demand for that month. This weekly average is used as the weekly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown in the following tables along with the actual demand that occurred. The following eight weeks show the forecast (based on last year) and the demand that actually occurred: WEEK FORECAST DEMAND ACTUAL DEMAND 1 135 132 2 135 128 3 135 150 4 134 160 5 134 180 6 144 170 7 155 185 8 156 205Operations Management CH 3 Question 14 Harlen Industries has a simple forecasting model: Take the actual demand for the same month last year and divide that by the number of fractional weeks in that month. This gives the average weekly demand for that month. This weekly average is used as the weekly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown in the following tables along with the actual demand that occurred. The following eight weeks show the forecast (based on last year) and the demand that actually occurred:Question 1 Double Exponential Smoothing should be applied to time series with ____________________. Group of answer choices a. no trend and no seasonality. b. trend but no seasonality. c. seasonality but no trend. d. both trend and seasonality. Question 2 An analyst fits a Holt’s Double exponential smoothing model in StatTools to a time series data on sales with the smoothing parameters to be optimized by the software. In the output she notes that the optimized smoothing parameter for trend to be 0.0000. What does this imply? Group of answer choices a. There is no trend in the data. b. There is both trend and seasonality in the data. c. There could be trend in the data, but it is not smoothed over time by the model. d. This output does not make any sense!
- QUESTION 1The 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:- iii. Exponential Smoothing when α= .6 and the forecast for March is 350.PLEASE HELP ME IM BEGGING YOU IM SOOOO CONFUSEDDD a) How many corner points does the feasible region have? b) Which point is one of the corner points of the feasible region? c) The optimal value of the objective function is d) Which statement is true? Question 12 options: Constraint x1 + 2x2 ≤ 16 is binding. Constraint 2x1 + 3x2 ≤ 18 is binding. Constraint x1 ≥ 2 is binding. Constraint x2 ≤ 10 is binding.QUESTION 1The 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
- The manager of a bulk foods establishment sells a trail mix for $9 per pound and premium cashews for $14 per pound. The manager wishes to make an 200-pound trail mix-cashew mixture that will sell for $11 per pound. How many pounds of each should be used? Question content area bottom Part 1 A. 80 lb of trail mix 120 lb of cashews B. 100 lb of trail mix 100 lb of cashews C. 140 lb of trail mix 60 lb of cashews D. 120 lb of trail mix 80 lb of cashewsQuestion: You want to buy electric energy. You can buy from company A, B, C, or D, but you must choose only one. You obtain past data on these four suppliers, and you then determine that the prices for some of them have been quite volatile, influenced by the state of the economy (recession, stagnation, and inflation). You assess this data given in the table in the picture attached. a) Assuming that you simply want to minimize your average costs over the long run, determine the expected costs for all energy suppliers. Select the supplier based on minimum expected cost. b) Assuming that you cannot afford any surprises and therefore want to minimize his uncertainty, determine the standard deviation for each supplier. Select the supplier based on minimum variance (same as minimum standard deviation).Discussion Questions: Question 1 (a) An effectively formulated operation strategy is critical to the success of a business, agree or disagree? Give reasons for your answer. (b) Suggest two strategies that Cutie Barber Salon could use to achieve the mission outlined in your response to question 1. Question 2 What is the strategic importance of forecasting for a business such as Cutie Barber Salon? What are the possible challenges faced by organizations that do not utilize forecasting in the planning of their operations? Question 3 Discuss two ways in which the barber salon can overcome the challenge of operating successfully in an environment of increasing costs while at same time customers are demanding lower prices.