Using 2 Semester Weighted moving average compute the forecasted number of student for semester 16 the weight are 4 for the most recent semester and 2 for the older one.
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The chairperson of the department of management at Tech wants to
Using 2 Semester Weighted moving average compute the forecasted number of student for semester 16
the weight are 4 for the most recent semester and 2 for the older one.
Semester | Students Enrolled in OM |
1 | 270 |
2 | 310 |
3 | 250 |
4 | 290 |
5 | 370 |
6 | 410 |
7 | 400 |
8 | 450 |
9 | 440 |
10 | 470 |
11 | 520 |
12 | 515 |
13 | 525 |
14 | 542 |
15 | 503 |
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Tom Glass forecasts electrical demand for the FlatlandsPublic Power District (FPPD). The FPPD wants to take itsComstock power plant out of service for maintenance whendemand is expected to be low. After shutdown, performingmaintenance and getting the plant back on line takes two weeks. The utility has enough other generating capacity tosatisfy 1,550 megawatts (MW) of demand while Comstockis out of service. Table 8.5 shows weekly peak demands(in MW) for the past several autumns. When next in year 6should the Comstock plant be scheduled for maintenance?
- 12.4. The chairperson of the department of management at Tech wants to forecast the number of students who will enroll in operations management next semester in order to determine how many sections to schedule. The chair has accumulated the following enrollment data for the past eight semesters: Students Enrolled Semester in OM 1 270 2 310 250 4 290 370 6. 410 7 400 8. 450 a. Compute a three-semester moving average forecast for semesters 4 through 9. b. Compute the exponentially smoothed forecast (a = .20) for the enrollment data. c. Compare the two forecasts using MAD and indicate the most accurate. 3.With alpha = 0.8, the Exponential Smoothing (ES) forecast for Month 6 would be: A. 565 haircuts B. 574 haircuts C. 578 haircuts D. 584 haircutsa) The demand forecast for Month 6 would be: A. 565 haircuts B. 574 haircuts C. 578 haircuts D. 584 haircuts b) With Mean Absolute Deviation (MAD) as the criterion, the best forecasting model for this time series data is: A. Naïve approach B. 2-week Simple Moving Average (SMA) C. Weighted Moving Average (WMA) with weights: 0.5, 0.3, 0.2 D. Exponential Smoothing (ES) with alpha = 0.8
- B. The number of disk drives (in millions) made at a plant in China during the past 5 years follows: Year Disc Drives 1 140 160 3 190 4 200 5 210 i. Forecast the number of disk drives to be made next year, using linear regression.4 Trinity General Hospital had the following number of patient admissions during the past 8 weeksWeek Patient Admissions1 1202 1453 954 1125 1306 1107 1008 140 a. Develop a 3-week weighted average forecast forWeek 4 through 9 with weightsW1 = 0.2W2 = 0.3W3 = 0.5 b. Forecast patient admissions for week 9 using simpleexponential smoothing with α = 0.2. Assume that the forecast for Week 2 (F2) is the naïve forecast.Enrollment in a particular class for the last four semesters has been 122, 128, 100, and 155 (listed from oldest to most recent). The best forecast of enrollment next semester, based on a three-semester moving average, would be: 1) 168.3 2) None of the provided options. 3) 127.7 4) 116.7 5) 135.0
- Freight car loadings over an 18-week period at a busy port are as follows: Week Number Week Number Week Number 1 410 7 460 13 540 2 420 8 480 14 550 3 430 9 500 15 570 4 420 10 490 16 580 5 430 11 510 17 590 6 440 12 530 18 600 Click here for the Excel Data File a. Determine a linear trend line for expected freight car loadings. (Round your intermediate calculations and final answers to 2 decimal places.) b. Use the above trend equation to predict expected loadings for Weeks 20 & 21. (Round your final answers to 2 decimal places.) c. The manager intends to install new equipment when the volume exceeds 990 loadings per week. Assuming the current trend continues, in which week (at the earliest) should the loading volume reach that level? (Use the rounded answers, as required, from any previous part of this problem. Do not round any other intermediate calculations. Round your final answer to 2 decimal places.)Sarah has been custom manufacturing sweaters now for 7 years. Her annual sales are shown below. Year Sales 1 178 2 215 3 233 4 301 5 337 6 330 7 361 What are her forecasted sales for year 8 using a 3 year moving average? What are her forecasted sales for year 8 using a 5 year weighted average where w1=.4, w2=.3, w3=.15, w4=.1, w5=.05? What are her forecasted sales for year 8 using exponential smoothing? Assume year 7 forecast was 323. Select your own alpha. Which forecast method is the best for Sarah to use based on MAD? Why?Weighted moving average using Excel:3.1 Calculate demand forecast for weeks 7-24 using 6 week weighted moving average with weights 0.55, 0.1, 0.1, 0.1, 0.1, 0.053.2 Calculate demand forecast for weeks 7-24 using 6 week weighted moving average with weights 0.2, 0.2, 0.2, 0.15, 0.15, 0.13.3 Plot the two weighted moving average forecasts together with the actual demand. Comment on the obtained graph.3.4 Using the forecasting error measures seen in class, evaluate the forecasting error of each method. Accordingly which method is better?