MyLab Operations Management with Pearson eText -- Access Card -- for Operations Management: Processes and Supply Chains
12th Edition
ISBN: 9780134742366
Author: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
Publisher: PEARSON
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Chapter 8, Problem 20P
Summary Introduction
Interpretation: Simple moving average
Concept Introduction: Analyzing overall trend in the data set is called moving average technique which is calculated taking specific periods attributes average excluding recent top values.
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Students have asked these similar questions
The number of fishing rods selling each day is given below. Perform analyses of the time series to determine which model should be used for forecasting.
3 day moving average analysis
4 day moving average analysis
3 day weighted moving average analysis with weights W1=0.2, W2=0.3 and W3=0.5 with W1 on the oldest data.
Exponential smoothing analysis with A=0.3
Which model provides a better fit of the data?
Forecast day 13 sales of fishing rods using the model chosen in part (e)
Day
Rods Sold
1
60
2
70
3
110
4
80
5
70
6
85
7
115
8
105
9
65
10
75
11
95
12
85
Please read the relevant article, found in the VLE, before answering the question. Discuss the process and findings of the study of the article. Suggest a possible study that could be done at your current or past job that could use a similar methodology and analysis.
A restaurant wants to forecast its weekly sales. Historical data (in dollars) for 15 weeks are shown in this Excel file (also shown in Problem 6 on page 243 in the textbook).
Answer the following questions related to this information:
Provide insight about the time series. What are the trends and stability of the data?
What is the forecast for Week 16, using a two-period moving average? (use cell B6 for number of periods)
What is the forecast for Week 16, using a three-period moving average? (use cell B6 for number of periods)
What is the MSE for the two- and three-period moving average models? Compare the results.
Find the best number of periods for the moving average model based on MSE.
The manager of a popular tourist resort wants to use the manual trend projection forecasting technique and exponential smoothing without trend to forecast room occupancy at the resort for the next 4 years. Using a numerical example, demonstrate how these techniques can be used to do the forecast.
REQUIREMENT- USE EXPONENTIAL SMOOTHING(WITHOUT TREND) ONLY
Chapter 8 Solutions
MyLab Operations Management with Pearson eText -- Access Card -- for Operations Management: Processes and Supply Chains
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