Gen Combo Looseleaf Operations Management In Supply Chain; Connect Access Card
7th Edition
ISBN: 9781260149647
Author: Roger G Schroeder, M. Johnny Rungtusanatham, Susan Meyer Goldstein
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 10.S, Problem 2P
eXcel The daily demand for chocolate donuts from the Donut Hole Shop has been recorded for a two week period.
| Day | Demand | Day | Demand |
| 1 | 80 | 8 | 85 |
| 2 | 95 | 9 | 99 |
| 3 | 120 | 10 | 110 |
| 4 | 110 | 11 | 90 |
| 5 | 75 | 12 | 80 |
| 6 | 60 | 13 | 65 |
| 7 | 50 | 14 | 50 |
- a. Simulate a
forecast of the demand using trend adjusted exponential smoothing Use values of Ao = 90. T0 = 25, and α = β = .2. - b. Plot the data and the forecast on a graph.
- c. Does this appear to be a good model for the data?
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Students have asked these similar questions
National Standard, Inc. sells radio frequency identification (RFID) tags. Monthly demand for a seven-month period is reported below:
Sales (1000 units)
Forecast
Observation
Month
Yt
Ft
1
February
19
2
March
18
3
April
15
4
May
20
5
June
18
6
July
22
7
August
20
8
September
?
Use Excel to plot the data and forecast September sales using the following methods:
The naïve forecast
A three-month moving average
Exponential smoothing with a smoothing coefficient of α = 0.2, assuming a February forecast of 19
A 3-month weighted moving average, with weights 0.60, 0.3, and 0.1. With 0.6 applied to the most recent past.
The Yummy Ice Cream Company projects the demand for ice cream by using first-order exponential smoothing. Last week the forecast was 100,000 gallons of ice cream, and 90,000 gallons was actually sold.
Using alpha=.1, prepare a forecast for next week.
Calculate the forecast using Alpha=.2 and Alpha=.3 for this problem. Which values of Alpha gave the best forecast, assuming actual demand for next week ends up being 95,000 gallons?
Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows.
Week
1
2
3
4
5
6
Value
19
14
15
12
18
13
Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.
(a)
mean absolute error
MAE =
(b)
mean squared error
MSE =
(c)
mean absolute percentage error (Round your answer to two decimal places.)
MAPE = %
(d)
What is the forecast for week 7?
Chapter 10 Solutions
Gen Combo Looseleaf Operations Management In Supply Chain; Connect Access Card
Ch. 10.S - Ace Hardware sells spare parts for lawn mowers....Ch. 10.S - eXcel The daily demand for chocolate donuts from...Ch. 10.S - The SureGrip Tire Company produces tires of...Ch. 10.S - eXcelManagement believes there is a seasonal...Ch. 10.S - Management of the ABC Floral Shop believes that...Ch. 10 - Prob. 1DQCh. 10 - What is the distinction between forecasting and...Ch. 10 - Qualitative forecasting methods should be used...Ch. 10 - Describe the uses of qualitative, time-series, and...Ch. 10 - Qualitative forecasts and causal forecasts are not...
Ch. 10 - Prob. 6DQCh. 10 - What are the advantages of exponential smoothing...Ch. 10 - How should the choice of be made for exponential...Ch. 10 - Prob. 9DQCh. 10 - Prob. 10DQCh. 10 - Explain how CPFR can be used to reduce forecasting...Ch. 10 - Under what circumstances might CPFR be useful, and...Ch. 10 - Daily demand for marigold flowers at a large...Ch. 10 - The number of daily calls for the repair of Speedy...Ch. 10 - 3-The ABC Floral Shop sold the following number of...Ch. 10 - The Handy Dandy Department Store had forecast...Ch. 10 - 5-The Yummy Ice Cream Company uses the exponential...Ch. 10 - Using the data in problem 2, prepare exponentially...Ch. 10 - Compute the errors of bias and absolute deviation...Ch. 10 - eXcel At the ABC Floral Shop, an argument...Ch. 10 - Only a portion of the following table for...Ch. 10 - A candy store has sold the following number of...Ch. 10 - eXcel A grocery store sells the following number...Ch. 10 - Prob. 12PCh. 10 - The Easyfit tire store had demand for tires shown...Ch. 10 - Prob. 14P
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