Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
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Chapter 2.8, Problem 31P
Summary Introduction
To determine: The way in which the observation of the given information can be used in making forecast of the usage of parks.
Introduction: Demand
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The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months:
Month
Jan
Feb
Mar
Apr
Number of Accidents
30
48
70
90
Part 2
Using the
least-squares regression
LOADING...
method, the trend equation for forecasting is (round your responses to two decimal
places):
y
=
enter your response here
+
enter your response here
x
Y=?+?x
The monthly sales for Yazici Batteries, Inc., were as follows:
Month
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Sales
21
20
15
14
13
15
17
18
20
21
20
23
This exercise contains only parts b and c.
Part 2
b) The forecast for the next month (Jan) using the naive method = ____ sales (round your response to a whole number).
The forecast for the next period (Jan) using a 3-month moving average approach =____ sales (round your response to two decimal places).
A company is introducing reusable straws in the market on the 1st of January 2022. They estimate the total market for reusable straws is approximately 3 million per year. The company expects to sell 500000 straws in the first year. There is a competitor already in the market whose sales per year is 1 million straws per year. Your group have been hired as consultants to answer the following questions:
What forecasting techniques should the company use for a) sales this year b) sales next year and c) sales in the next five years? Please justify your recommendations. Please provide forecast figures from year 2 to year 5.
I want step by step calculation for exponential smoothing for the year 2 to 5 forecast.
Chapter 2 Solutions
Production and Operations Analysis, Seventh Edition
Ch. 2.4 - Prob. 1PCh. 2.4 - Prob. 2PCh. 2.4 - Prob. 3PCh. 2.4 - Prob. 4PCh. 2.4 - Prob. 5PCh. 2.4 - Prob. 6PCh. 2.4 - Prob. 7PCh. 2.4 - Prob. 8PCh. 2.4 - Prob. 9PCh. 2.6 - Prob. 10P
Ch. 2.6 - Prob. 11PCh. 2.6 - Prob. 12PCh. 2.6 - Prob. 13PCh. 2.6 - Prob. 14PCh. 2.6 - Prob. 15PCh. 2.7 - Prob. 16PCh. 2.7 - Prob. 17PCh. 2.7 - Prob. 18PCh. 2.7 - Prob. 19PCh. 2.7 - Prob. 20PCh. 2.7 - Prob. 21PCh. 2.7 - Prob. 22PCh. 2.7 - Prob. 23PCh. 2.7 - Prob. 24PCh. 2.7 - Prob. 25PCh. 2.7 - Prob. 26PCh. 2.7 - Prob. 27PCh. 2.8 - Prob. 28PCh. 2.8 - Prob. 29PCh. 2.8 - Prob. 30PCh. 2.8 - Prob. 31PCh. 2.8 - Prob. 32PCh. 2.9 - Prob. 33PCh. 2.9 - Prob. 34PCh. 2.9 - Prob. 35PCh. 2.9 - Prob. 36PCh. 2.9 - Prob. 37PCh. 2.10 - Prob. 38PCh. 2.10 - Prob. 42PCh. 2.10 - Prob. 43PCh. 2.10 - Prob. 44PCh. 2.10 - Prob. 45PCh. 2 - Prob. 47APCh. 2 - Prob. 48APCh. 2 - Prob. 49APCh. 2 - Prob. 50APCh. 2 - Prob. 51APCh. 2 - Prob. 52APCh. 2 - Prob. 53APCh. 2 - Prob. 54APCh. 2 - Prob. 55APCh. 2 - Prob. 56APCh. 2 - Prob. 57APCh. 2 - Prob. 58AP
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