Concept explainers
Question
• 4.25 The following gives the number of accidents that occurred on Florida State Highway 101 during the past 4 months:
MONTH | NUMBER OF ACCIDENTS |
January | 30 |
February | 40 |
March | 60 |
April | 90 |
• 4.26 In the past, Peter Kelle’s tire dealership in Baton Rouge sold an average of 1,000 radiais each year. In the past 2 years, 200 and 250, respectively, were sold in fall, 350 and 300 in winter, 150 and 165 in spring, and 300 and 285 in summer. With a major expansion planned, Kelle projects sales next year to increase to 1,200 radials. What will be the demand during each season?
•• 4.27 George Kyparisis owns a company that manufactures sailboats. Actual demand for George’s sailboats during each of the past four seasons was as follows:
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OPERATIONS MGMT - FIRST DAY
- Question Using a suitable moving average method, find the trend values.arrow_forwardQuestion 2 Historical demand for gulab jamun from a sweet stall on Commercial Road is as displayed in the table. Month Demand (orders) January 66,753 February 67,686 March 68,641 April 68,979 May 69,278 June 69,577 July 69,602 August 70,348 September 70,806 October 71,011 November 71,819 December 72,752 What is the forecast for June using Holt's model with an alpha of 0.1 and a beta of 0.2? 69121 69612 70564 63545 Full explain this question text typingarrow_forwardQUESTION 1 Sales of Fat Lips Burgers for 2012 are shown in the table below. 1. Do the 2 month SMA forecast 2. Do 2 month WMA forecast using the information below WMA – 2: last month, 1 – last 2 months 3. For the month of January 2012, the forecast was 438. Do the EMA forecast with the smoothing constant = 0.3. What is the forecast for Jan 2013? 4. Compare the forecasts above using MAD, MSE and MAPE. Which forecast method gives the least errors? Month Actual Sales Forecast Jan 2012 438 Feb 420 March 414 Apr 318 May 306 June 240 July 240 Aug 216 Sep 198 Oct 225 Nov 270 Dec 315 Jan 2013 - QUESTION 2Dayang sells 5 kg bags of fertilizer to local farmers in Tg Karang. The sales data for the past 11 months is shown below. Month Demand (10s of bags) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15 1. Find the forecast for the month 12 using the methods below: a. Simple 4 month moving average (SMA) b.…arrow_forward
- Question 4 The below data represent the advertising expenditure and sales of Little Liu Ltd from year 2008 to 2017. Table: Advertising Expenditure vs. Sales from 2008 to 2017 Year Advert. Expenditure Sales (x, £000) (y, £000) 2008 8 30 2009 12 40 2010 11 29 2011 5 29 2012 14 43 2013 3 17 2014 6 20 2015 8 30 2016 4 22 2017 9 40 Total 80 300 Work out the values of parameters of the relationship shown in the Figure (i.e. work out the equation of the relationship).arrow_forwardQUESTION ONE (b) The forecast of a product for the first week of January was 200 units, whereas the actual demand turned out to be 220 units. i. Find the forecast for the week of January assuming the smoothing constant 0.2 α = ii. Find the forecast for the third week of third week of January if the actual demand of the second week is 210 unitsarrow_forwardQUESTION 3 In an effort to reduce energy costs, a major university has installed more efficient lights as well as automatic sensors that turn the lights off when no movement is present in a room. Historically, the cost of lighting an average classroom for 1 week has been $265. To determine whether the changes have signficantly reduced costs, the university takes a sample of 50 classrooms. They find that the average cost for 1 week is $247 with a standard deviation of $60. When testing whether the average energy use has decreased from the past (with a null hypothesis that the use has increased) (using the 5% level of significance), what is the p-value? (please round your answer to 4 decimal places)arrow_forward
- Question 16 Daily demand for sandwiches at a local deli is shown in the table. Using a 3 period weighted moving average (most recent demands receive the highest weights) with weights W1 = 0.50, W2 = 0.30 and W3 = 0.20, what is the forecast for day 8? Group of answer choices a. 39.3 sandwiches b. 41.3 sandwiches c. 43 sandwiches d. 43.3 sandwiches e. Impossible to determinearrow_forwardQUESTION 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 averagearrow_forwardQUESTION 34 Suppose the actual sales and the forecasted, or smoothed sales, for the past 5 months have been Actual Smoothed 54.4 76.8 54.4 75.5 72.3 53.2 74.8 39.2 57.6 What is the Mean Absolute Error of the smoothed series? (please round your answer to 1 decimal place)arrow_forward
- Question 1 Samsung Electronics Co. Ltd said on Thursday it expects chip shortages to affect chip demand from some customers in the final three months of the year, after reporting its highest quarterly profit in three years. The warning comes as producers of goods from televisions to cars have faced a host of supply chain issues ranging from a shortage of logic chip parts, manpower shortages, logistics snarls, and delays at parts plants due to power cuts in China. Samsung said demand for server DRAM chips, which temporarily save data, and NAND flash chips that serve the data storage market, is expected to stay robust in the fourth quarter due to expansion of data centre investments. Although supply chain issues could limit demand from some mobile chip customers in the fourth quarter, demand for server and personal computer chips is expected to be robust in 2022 despite uncertainties, it said. Analysts expect Samsung's fourth quarter earnings to be level or below its third quarter…arrow_forwardQuestion 3 [Soalan 3] Use the data set below to answer the following questions: [Gunakan set data di bawah untuk menjawab soalan-soalan berikut:] Table 1: Monthly sales unit [Jadual 1: Unit jualan bulanan] Month [Bulan] Sales Units [Unit Jualan] 1 1100 2 1200 3 1450 4 1800 5 2100 6 2700 ii) Calculate the four-period weighted moving average forecasts for months 5 and 6 using weights of 0.05, 0.15, 0.30, and 0.50 from the earliest period to the latest period, respectively. [Hitungkan ramalan wajaran purata bergerak menggunakan empat-tempoh untuk bulan 5 dan 6 menggunakan pemberat 0.05, 0.15, 0.30 dan 0.50 dari tempoh yang terawal ke tempoh yang terakhir mengikut turutan.]arrow_forwardQUESTION 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.arrow_forward
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