EBK PRODUCTION AND OPERATIONS ANALYSIS
7th Edition
ISBN: 8220102480681
Author: Olsen
Publisher: WAVELAND
expand_more
expand_more
format_list_bulleted
Question
Chapter 13.7, Problem 27P
Summary Introduction
Interpretation:
Replacement cost when
Concept Introduction:
Replacement cost is the amount required to purchase an asset for replacing an existing asset of the same capability at prevailing market price.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
.A 45 kW rated solar power system has its
power output and the Solar irradiance on the
PV system measured during daylight hours
over a day. Based on the following data,
create a scatter plot of the power output of
the PV system vs the solar irradiance and
comment on the relationship between the
two. Based on the data, can you tell which
season this day was in?
Solar Irradiance on the
PV system (kW/m²)
0
0.079
0.333
0.571
0.751
0.86
0.914
0.93
0.904
0.803
0.606
0.345
0.054
Power output from the
PV system (kW)
0
3.098
12.438
20.124
25.703
28.498
29.587
29.69
28.798
26.264
20.434
12.223
2
In year 2010, a saop manufacturer forecasts that demand of 2011 will be 200 lakhs of units of saop. Whereas the actual demand was 210 lakhs of saops , now using the smoothing constant choosen by the management of alpha is 0.30 , the manufacturer wants to forecast the 2012 demand using the exponential smoothing model , calculate the same .
An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: (4 year ago Quantity sold was 10842), (3 year ago Quantity sold was 11881 ), (2 year ago Quantity sold was 16064 ) and the last year Quantity sold was 19273 . The previous trend line had predicted 12250 for three years ago, 13000 for two years ago and 13750 for last year. What was the mean absolute percent error (MAPE) for these forecasts?
a.
16.95
b.
2739
c.
0.17
d.
2985
Chapter 13 Solutions
EBK PRODUCTION AND OPERATIONS ANALYSIS
Ch. 13.1 - Prob. 3PCh. 13.1 - Prob. 4PCh. 13.1 - Prob. 5PCh. 13.1 - Prob. 6PCh. 13.2 - Prob. 7PCh. 13.2 - Prob. 9PCh. 13.3 - Prob. 13PCh. 13.3 - Prob. 14PCh. 13.4 - Prob. 15PCh. 13.4 - Prob. 16P
Ch. 13.4 - Prob. 17PCh. 13.4 - Prob. 18PCh. 13.4 - Prob. 19PCh. 13.4 - Prob. 20PCh. 13.6 - Prob. 21PCh. 13.6 - Prob. 22PCh. 13.6 - Prob. 23PCh. 13.6 - Prob. 24PCh. 13.6 - Prob. 25PCh. 13.7 - Prob. 26PCh. 13.7 - Prob. 27PCh. 13.7 - Prob. 28PCh. 13.7 - Prob. 30PCh. 13.7 - Prob. 31PCh. 13.7 - Prob. 32PCh. 13.7 - Prob. 33PCh. 13.7 - Prob. 34PCh. 13.8 - Prob. 35PCh. 13.8 - Prob. 36PCh. 13.8 - Prob. 37PCh. 13.8 - Prob. 38PCh. 13.8 - Prob. 39PCh. 13.8 - Prob. 40PCh. 13.8 - Prob. 41PCh. 13 - Prob. 42APCh. 13 - Prob. 43APCh. 13 - Prob. 44APCh. 13 - Prob. 45APCh. 13 - Prob. 46APCh. 13 - Prob. 48APCh. 13 - Prob. 49APCh. 13 - Prob. 51APCh. 13 - Prob. 52APCh. 13 - Prob. 53AP
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.arrow_forwardThe number of yearly breakdowns for the power generator observed over the past 20 years at Orlando Utilities is presented in the following data: Number of breakdowns Number of years in which breakdowns occurred For Orlando Utilities, the expected number of breakdowns (round your response to two decimal places). 0 2 = 1 3 2 5 3 5 4 3 5 1 6 1 Darrow_forwardFill the following blanks with appropriate abbreviations supplied: ________ =mean absolute percentage error, ________ = fixed cost, _______ = slope, _______ = correlation coefficient, _______ = smoothing constant, ________ = intercept, _________ = trend smoothing constant, α FC β MAPE b r aarrow_forward
- Find the formula for g in terms of f. g(x) = -12 12 2.0 12 2.0 2.0 12 12 2.0 -12 Find the formula for g in terms of f. g(x) = -12arrow_forwardA student group on a college campus wanted to create a survey about parking availability on campus. The student group randomly selected 300 students to take the survey. One of the questions read, “Many students believe the lack of available parking is a major problem. Do you agree or disagree?” Of the 300 students that took the survey, 285 surveys were returned. This survey will most likely suffer from which of the following types of bias? There is no bias in the way this survey is carried out. Response bias Selection bias Non-response biasarrow_forwardThe number of hybrid cars that have be requested for rental from a car rental office during a 50 day sample period is given in the following table. Demand for Cars Number of Days Probability 3 3 0.06 4 7 0.14 5 12 0.24 6 14 0.28 7 10 0.20 8 4 0.08 50 1.00What is the expected (mean) number of hybrid rentals per day? Compute to one decimal place.arrow_forward
- Use this data and build a model to forecast annual maintenance expenses based on the weekly usage in hours. If the machine is used for 38.4 hours, what should I expect my annual maintenance expenses to be? (Keep one decimal place) Weekly Usage (hours) Annual Maintenance Expense 13 17.0 10 22.0 20 30.0 28 37.0 32 47.0 17 30.5 24 32.5 31 39.0 40 51.5 38 40.0arrow_forwardGiven this frequency distribution, what demand values would be associated with the following random numbers? (Do not round intermediate calculations.) Demand Frequency 0 18 1 15 2 18 3 49 Random Numbers. Stimulated Demand 0.2 0.5 0.5arrow_forwardIn a manufacturing company, a product “A” is manufactured from components “B” and “C”. Also, the component “B” is manufactured from parts “D” and “E”. Which items should be forecasted?arrow_forward
- The time to deliver packaged containers by a logistics company is found fromsamples of size 4. The mean and standard deviation of delivery times is estimated tobe 140 hours and 6 hours, respectively.(a) Find the 2 sigma and 3 sigma control limits for the average delivery time.(b) Explain a type I and type II error specifically in this context.(c) If the mean delivery time shifts to 145 hours, what is the probability of notdetecting this by the second sample after the shift?(d) What is the ARL? Explainarrow_forwardb. The mean absolute deviation as of the end of week 10 is___ rentals enter your response here. (Enter your response rounded to two decimal places.)arrow_forwardThe following is the temperature control system of a heat exchanger. a)Identify the type of system. b) Calculate the steady state error when it is subjected to an input. r(t) = 2 c) Calculate the steady state error when subjected to an input. r(t) = 3t R(s) 15 C(s) 5³ - 5²² + 5sarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Process selection and facility layout; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=wjxS79880MM;License: Standard YouTube License, CC-BY