Period Actual Sales 1 500 2 540 Answer the following two questions using it. 3 5 620 4 690 820 Using simple exponential smoothing and an alpha of 0.5, what is the sales forecast for period 6? Assume the forecast for period 1 was 500. Using a five-period moving average, what is the sales forecast for period 6? A. 616 B. 624 C. 626 D. 634 E. 636 F. 705 G.715 H. 725 1. 735 J. 745
Q: Gregory has started a small agricultural business that specialises in maize and sunflower seeds in…
A: MRP systems A material resource planning system is a computer-based information system that helps in…
Q: The weighted factors for alternatives A, B, and C are as follows: Weighted factors for alternative A…
A: A manager engages in the selection of feasible projects, management of work of a team, aligning the…
Q: You are the manager of Canadian markets for Excite Travel, a firm that provides incentive travel,…
A: An yearly bonus is one of the best financial incentives for recognising a worker's success on both a…
Q: Courtney is a programmer receiving requests each week to analyze a large data base. Five jobs were…
A: Given-
Q: A key factor for success for a retailer is a phenomenal forecasting process and resources (Jack…
A: Inventory cost refers to the costs associated with the inventory. It includes the costs related to…
Q: A production process at Raider Red Manufacturing is shown below. There are five parallel Sawing…
A: Given- Sawing capacities in units/hr = 0.1Sanding capacities in units/hr = 2Welding capacities in…
Q: Pls solve this question correctly in 5 min i will give u like for sure Question # 1 Teresa Cohan is…
A: Given- Annual demand (D)= 5,000 unitsOrdering cost (S) = $30 per orderUnit Cost = $200Holding cost…
Q: An insurance company has a life insurance policy, which have 10,000 clients, each client pays 200…
A: Ans) Total Number of Clients = 10000 Each client pays 200 yuan per year Formula: Total Money…
Q: ll of lading is a is ve and invoice th True 3) False
A: There are three primary goals of a bill of lading. It is first and foremost a title document for the…
Q: adjust the cost of capital (i.e., appropriate discount rate) to increase the likelihood of having…
A: A new project is only financially viable if its discounted net present value (NPV) is greater than…
Q: A business needs to actively build competence within the supply chain in order to maintain a…
A: As per the case, the rooibos business requires more focus on developing capability-based competition…
Q: Under federal anti-trust law, it is illegal for a group of consumers to attempt to boycott a certain…
A: Explanation : Any company may, all alone, refuse to work with another firm, yet an arrangement among…
Q: Select all of the common pitfalls in this list related to building a dashboard: Too many colors…
A: Dashboard A dashboard in simple terms is nothing but a visual display of data. The motive of…
Q: Martha Manufacturing makes three products. Each product requires manufacturing operations in three…
A:
Q: What precisely is meant by the terms "data warehousing" and "data mining"? How are these instruments…
A: Definitions: Data warehousing: - Warehouse generally means a location to store goods and materials.…
Q: A company makes beaded necklaces and spends $75,000 per year to hold beads in inventory and $55,000…
A: Economic order quantity = sqrt(2DS/H) where, D = Annual demand S = ordering cost H = Holding…
Q: What could Convention Bureau do to help attract exhibition event to their destination?
A: Destination display and promotion :Convention Bureaux might help with sorting out promotional…
Q: 18/hr 1 4 10/hr 20/hr Current capacity 5 12/hr 19/hr 8/hr The diagram describes a service process…
A: The capacity of a process is determined by the bottleneck step i.e. step having the highest cycle…
Q: analyze five ways in which you can diagnose change that requires management attention in an…
A: ANSWER : At the point when you are faced with a situation where change appears to required, one of…
Q: ctional organizations. Describe the effects of each structure on proj
A: Organizations may be generically categorized into three types: matrix, projectized, and functional.…
Q: a) Based on the activity time estimates, the expected times and variance for each of the…
A: A network diagram related to the project shows the sequence of the task that is performed to…
Q: In Exercises 9-20, use the simplex method to solve the given linear programming problem. (In each…
A: Given LP- Max Z =x1+x2Subject to -x1+ 2x2≤63x1+2x2≤12x1, x2≥0
Q: Edwards Machine Tools needs to purchase a new machine. The basic model is slower but costs less,…
A: The maximum payoff for the basic model is $155,000 and the minimum payoff is $90,000 The maximum…
Q: Borges Machine Shop, Inc., has a 1-year contract for the production of 75,000 gear housings for a…
A: A flexible manufacturing system (FMS) production technique is made to quickly adjust to changes in…
Q: A project has the following activities, with specified precedents and expected durations (in hours).…
A: Forward Pass:Early Start (ES) = Max EF value from immediate Predecessor(s)Early Finish (EF) = ES +…
Q: Galaxy Cloud Services operates several data centers across the United States that contain servers…
A: Objective function: Min: 2.5X1+1.5X2+1X3+3.5X4+3X5 s.t. 30X1+40X2+40X3+40X4+20X5≥90…
Q: ct throughout its development cycle. Make use of the following sub-headings: describe the factors…
A: Controlling the quality of services is the main focus of quality management, as the name suggests.…
Q: I. The Northridge Company tends to keep the inventory low. At the same time, it is important to…
A: Find the Calculation methods below: Requirement (Maximum value of Demand and Customer order)…
Q: How long do you estimate the time required to install the fourth pool? enter your response here…
A: Given data: The time to build the first pool is = 41 hours. Learning rate = 90%
Q: How does operation management affects the profitability of a business?
A: Introduction :- Organizational operations management's threefold objective is the maximisation of…
Q: a) Based on the given information regarding the activities for the project, the project completion…
A: A network diagram related to the project shows the sequence of the task that is performed to…
Q: K Suppose that a company has recently started manufacturing a new line of helicopters, and it took…
A: Given data is as follows: Days taken = 106.496 labor days to complete 16th helicopterLearning rate =…
Q: BrightSide Produce is a student-driven, nonprofit social venture designed to eliminate food…
A: Overage cost = Manufacturing cost - Salvage value = $0.86-0=$0.86 Underage cost =Selling price -…
Q: 2. Objective function: z = x₁ + 3x₂ Z Constraints: x₁ + x₂ ≤ 4 X1 x₁ - x₂ = 1 X1, X₂0
A: As in the question, only a simplex table is asked, so only that is provided the solution. No further…
Q: Regarding the economic order quantity, which of the following is true? OA all of the options are…
A: Introduction: EOQ or Economic Order Quantity is a measurement tool to determine the economic order…
Q: (a) Formulate a linear programming model for this problem that will maximize profit (in dollars).…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: a) What is Baker's inventory turnover? _______ times per year (round your response to two…
A: Given, Inventory turns = 13 times per year Assets invested = 8% Baker Mfg. Inc. Net…
Q: Wanda Lux must select a supplier for a plastic bottle and proprietary dispenser for its new hair…
A: Annual demand = 40000 units Number of operating days = 250 Daily requirement = 40000/250 = 160…
Q: Find Optimal solution for this example (loop) ? ( NOT Initial basic feasible solution )
A: Given Information: VAM (Vogel's approximation method) of finding the Initial basic feasible…
Q: Vollmer Manufacturing makes three components for sale to refrigeration companies. The components are…
A: Also, the demand for 550 units of component 1 must be satisfied. Convert available hours in minutes…
Q: Operations plan for food truck in london like how the product/service will be produced and what…
A: A food truck business is a burgeoning opportunity in today's consumer-centric market where people…
Q: At the Qatar 2022 FIFA World Cup’s opening game on 20 November 2022, the iconic Al Bayt Stadium was…
A: The M/M/1 model refers to the single server model with exponential service time. There is no limit…
Q: How many rolls should Yellow Press order at a time? Yellow Press should order enter your response…
A: As per the question, The annual demand=2750 The cost for each roll=1000 The annual holding cost=16%…
Q: There are typically three tiers of company involvement in customer service. First of all, what are…
A: Customer service in simple terms is nothing but the services (pre and post sales) offered to the…
Q: At the Dartmouth Assessment Centre, good students have an 85% learning curve and can do a task in 18…
A: Use the following formula: Tn=T1×Unit time factor For unit time factor, standard table for…
Q: When IT project output meet the user’s information requirement, then what can be achieved? Competent…
A: Explanation : At the point when the interaction with the output of the it project is simple then…
Q: Dave Fletcher was able to determine the activity times for constructing his laser scanning machine.…
A: A network diagram related to the project shows the sequence of the task that is performed to…
Q: Suppose that a process is comprised of 12 components, each having a success rate of 71%. By how much…
A: Given data: Total components = 12 Success rate = 71% or 0.71
Q: You are required to implement the production level method for the following scenario. Four products,…
A: Level production strategy refers to the production strategy where the production quantity is fixed…
Q: The cost-time crashing method relies on choosing the cheapest method for reducing the duration of…
A: Schedule compression strategies, often known as project crashing, are employed when a person wishes…
Step by step
Solved in 2 steps with 2 images
- The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel Agency. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b?
- The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?The file P13_27.xlsx contains yearly data on the proportion of Americans under the age of 18 living below the poverty level. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Create a chart of the series with the forecasts superimposed from this optimal smoothing constant. Does it make much of an improvement over the model in part b? d. Write a short report to summarize your results. Considering the chart in part c, would you say the forecasts are good?
- The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a particular company. The company suspects that except for random noise, its sales are growing by a constant percentage each month and will continue to do so for at least the near future. a. Explain briefly whether the plot of the series visually supports the companys suspicion. b. By what percentage are sales increasing each month? c. What is the MAPE for the forecast model in part b? In words, what does it measure? Considering its magnitude, does the model seem to be doing a good job? d. In words, how does the model make forecasts for future months? Specifically, given the forecast value for the last month in the data set, what simple arithmetic could you use to obtain forecasts for the next few months?Under what conditions might a firm use multiple forecasting methods?Management of a home appliance store wants to understand the growth pattern of the monthly sales of a new technology device over the past two years. The managers have recorded the relevant data in the file P13_05.xlsx. Have the sales of this device been growing linearly over the past 24 months? By examining the results of a linear trend line, explain why or why not.
- The file P13_25.xlsx contains the quarterly numbers of applications for home mortgage loans at a branch office of Northern Central Bank. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b? Is it guaranteed to produce better forecasts for the future?Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)? Answer this question by estimating a simple regression equation where the sales price of the house is the dependent variable, and the size of the house is the explanatory variable. Use the sample data given in P13_06.xlsx. Interpret your estimated equation, the associated R-square value, and the associated standard error of estimate.The file P13_20.xlsx contains the monthly sales of iPod cases at an electronics store for a two-year period. Use the moving averages method, with spans of your choice, to forecast sales for the next six months. Does this method appear to track sales well? If not, what might be the reason?