Using 2 Semester Weighted moving average compute the forecasted number of student for semester 16 the weight are 4 for the most recent semester and 2 for the older one.
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The chairperson of the department of management at Tech wants to
Using 2 Semester Weighted moving average compute the forecasted number of student for semester 16
the weight are 4 for the most recent semester and 2 for the older one.
| Semester | Students Enrolled in OM |
| 1 | 270 |
| 2 | 310 |
| 3 | 250 |
| 4 | 290 |
| 5 | 370 |
| 6 | 410 |
| 7 | 400 |
| 8 | 450 |
| 9 | 440 |
| 10 | 470 |
| 11 | 520 |
| 12 | 515 |
| 13 | 525 |
| 14 | 542 |
| 15 | 503 |
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- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.The chairperson of the department of management at Tech wants to forecast the number of students who will enroll in operations management next semester in order to determine how many sections to schedule. The chair has accumulated the following enrollment data for the past 15 semesters: Using Exponential Smoothing with (α = 0.6) compute the forecasted number of student for semester 16 Semester Students Enrolled in OM 1 270 2 310 3 250 4 290 5 370 6 410 7 410 8 450 9 440 10 470 11 525 12 515 13 538 14 544 15 504Freight car loadings over a 12-year period at a busy port are as follows:Week Number Week Number Week Number1 220 7 350 13 4602 245 8 360 14 4753 280 9 400 15 5004 275 10 380 16 5105 300 11 420 17 5256 310 12 450 18 541a. Determine a linear trend line for expected freight car loadings.b. Use the trend equation to predict expected loadings for weeks 20 and 21.c. The manager intends to install new equipment when the volume exceeds 800 loadings per week.Assuming the current trend continues, the loading volume will reach that level in approximatelywhat week?
- In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1,000 radials each year. In the past 2 years, 240 and 240, respectively were sold in fall, 350 and 320 in winter,150 and165 in spring, and 340 and 195 in summer. With a major expansion planned, Kelle projects sales next year to increase to 1,200 radials. Based on next year's projected sales, the demand for each season is going to be (enter your responses as whole numbers): Fall: Winter: Spring: Summer:The Lake Sharkey BBQ Pit serves slow cooked beef brisket by the pound. Based on historical sales during the Labor Day weekend, management has forecasted brisket sales in pounds as shown in the following table. Lake Sharkey spends $14 to produce each pound of brisket for which it charges $23 per pound. Any unsold brisket at the end of the weekend is ground into chili which sells for $12 per pound. How many pounds of brisket should The Lake Sharkey BBQ Pit prepare for sale this Labor Day?Demand in pounds Probability500 0.101000 0.401500 0.302000 0.152500 0.05The Reeves twins are in the yard maintenance business. They want to start doing snow removal during the winter season because they practically don't have any yards to maintain. The twins are trying to determine how much equipment they need to purchase. The twins plan to do most of the work themselves and then hire some part-time workers on an individual job basis to help out. The twins gathered some data on past weather. Based on the information, they predict that there will be six big snowstorms in the coming winter. Most of their clients want the snow removed no more than two days after the snow stops falling. If the twins work for 10 hours a day, they can remove the snow from the driveway of a home in about 1 hour. However, for commercial parking lots and public sidewalks, it will take 4 hours. The variable cost per job is $12 for home driveways and $47 for commercial parking lots. The twins estimated that they will have no more than 40 homeowners and 25 businesses who would like…
- Biggio’s Department Store has six employees available to assign to four departments in the store—home furnishings, china, appliances, and jewelry. Most of the six employees have worked in each of the four departments on several occasions in the past and have demonstrated that they perform better in some departments than in others. The average daily sales for each of the six employees in each of the four departments are shown in the following table: Employee 3 has not worked in the china department before, so the manager does not want to assign this employee to china. Determine which employee to assign to each department and indicate the total expected daily sales.Suppose a four-period weighted average is being used to forecast demand. Weights for the periods are as follows: wt-4 = 0.1, wt-3 = 0.2, wt-2 = 0.3 and wt-1 = 0.4. Demand observed in the previous four periods was as follows: At-4 = 380, At-3 = 410, At-2 = 390, and At-1 = 400. What will be the demand forecast for period t?Ohio Swiss Milk Products manufactures and distributes icecream in Ohio, Kentucky, and West Virginia. The companywants to expand operations by locating another plant innorthern Ohio. The size of the new plant will be a function ofthe expected demand for ice cream within the area served bythe plant. A market survey is currently under way to deter-mine that demand.Ohio Swiss wants to estimate the relationship between themanufacturing cost per gallon and the number of gallonssold in a year to determine the demand for ice cream and,thus, the size of the new plant. The following data have beencollected:a. Develop a regression equation to forecast the cost per gal-lon as a function of the number of gallons produced. b. What are the correlation coefficient and the coefficient ofdetermination? Comment on your regression equation inlight of these measures.c. Suppose that the market survey indicates a demand of325,000 gallons in the Bucyrus, Ohio area. Estimate themanufacturing cost per gallon…
- a) The 2-month Simple Moving Average (SMA) forecast for Month 6 would be: A. 565 haircuts B. 574 haircuts C. 578 haircuts D. 584 haircuts b) With weights of 0.5, 0.3, and 0.2, the Weighted Moving Average (WMA) forecast for Month 6 would be: A. 565 haircuts B. 574 haircuts C. 578 haircuts D. 584 haircuts c) With alpha = 0.8, the Exponential Smoothing (ES) forecast for Month 6 would be: A. 565 haircuts B. 574 haircuts C. 578 haircuts D. 584 haircutsGarfield Industries is expanding its operations throughout the Southeast United States. Garfield anticipates that the expansion will increase sales by $1,000,000 and increase operating costs (excluding depreciation and amortization) by $700,000. Depreciation and amortization expenses will rise by $50,000, interest expense will increase by $150,000, and the company’s tax rate will remain at 40 percent. If the company’s forecast is correct, how much will net income increase or decrease, as a result of the expansion?In the past, Peter Kelle's tire dealership in BatonRouge sold an average of I ,000 radials each year. In the past2 years, 200 and 250, respectively, were sold in fa ll, 350 and 300 inCHAPTER 4 FORECASTING 149winter, ISO and 165 in spring, and 300 and 285 in summer. With amajor expansion planned, Kelle projects sales next year to increaseto I ,200 radials. What will be the demand during each season? ~(Mylab Operations Management also includes a shorter (brief)version of this problem.)