Management > QUESTIONS & ANSWERS > MANAGEMENT 3200Operations Management, Homework 3. All Answers Provided. (All)
MANAGEMENT 3200Operations Management, Homework 3. All Answers Provided.
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MANAGEMENT 3200Operations Management, Homework 3 1. A commercial bakery has recorded sales (in dozens) for three products, as shown below: a. Predict orders for the following d... ay for each of the products using an appropriate naive method. b. What should the use of sales data instead of demand imply? 2. National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: b. Forecast September sales volume using each of the following: (1) A linear trend equation.(Round your intermediate calculations and final answer to 2 decimal places.) (2) A five-month moving average. (Round your answer to 2 decimal places.) (3) Exponential smoothing with a smoothing constant equal to .30, assuming a March forecast of 18(000). (Round your intermediate forecast values and final answer to 2 decimal places) (4) The naive approach. (5) A weighted average using .60 for August, .10 for July, and .30 for June. (Round your answer to 2 decimal places.) 3. A manager of a store that sells and installs spas wants to prepare a forecast for January, February, and March of next year. Her forecasts are a combination of trend and seasonality. She uses the following equation to estimate the trend component of monthly demand: Ft = 80 + 4t, where t = 0 in June of last year. Seasonal relatives are 1.05 for January, .96 for February, and .86 for March. What demands should she predict? (Round your answers to 2 decimal places.) 4. An analyst must decide between two different forecasting techniques for weekly sales of roller blades: a linear trend equation and the naive approach. The linear trend equation is Ft = 125 + 1.9t, and it was developed using data from periods 1 through 10. Based on data for periods 11 through 20 as shown in the table, which of these two methods has the greater accuracy if MAD and MSE are used? (Round your answers to 2 decimal places.) [Show More]
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