thousands of dollars) for the years 2009 through 2012 havebeen $48‚000‚ $64‚000‚$67‚00 and $83‚000‚ respectively a) What sales would you predict for 2013‚ using a simple four-year moving average? F2013 = = $65‚500 $65‚000 is the forecast for 2013 b) What sales would you predict for 2013‚ using a weighted moving average with weights of0.50 for the immediate preceding year and 0.3‚ 0.15‚ and 0.05 for the three years before that? F2013 = 0.50A2012 + 0.3A2011 + 0.15A2010 + 0.05A2009
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on almost every person who walks through the doors. With POS systems‚ you can analyze sales data‚ maintain a sales history to help adjust your buying decisions‚ and you can improve your pricing accuracy. Also‚ Hard Rock uses a 3-year weighted moving average (applied to café sales) to help evaluate managers and to set their bonuses. The biggest indicator of the performance is the sales at the store they supervise. Lastly‚ Hard Rock uses multiple regression to help figure out how to set up the menu
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“What?!?” I blurted out promptly after my parents delivered the news. They just informed my siblings and I that we were going to be moving. Not just to somewhere nearby‚ either; to a different city or a neighboring state. We were going to be moving from our house in Virginia‚ all the way across the country‚ to Washington state. That is when I realized that my whole life that I had known was going to be gone. Life as I knew it was going to inevitably end. For quite a while‚ I could not come to terms
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1 2.8 3.1 2.5 2.2 3.6 4. a. Explain the characteristics of business forecasting. [ 5 marks] b. Differentiate between prediction‚ projection and forecasting. [ 5 marks] 5. What are the components of time series? Bring out the significance of moving average in analysing a time series and point out its limitations. [ 10 marks] 6. List down various measures of central tendency and explain the difference between them? [ 5 marks] b. What is a confidence interval‚ and why it is useful? What is a confidence
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MAN 6501 - Operations Management Examination 1 Instructions 1. Give answers up to two decimal points only. 2. This is an open book/open notes examination. Students are required to work individually on the examination. 3. There are 30 questions. Questions 1 through 20 carry 2.5 points each and questions 21 through 30 carry 5.00 points each. 4. This examination carries 25% weight towards the final grade. 5. You have five hours of continuous time to finish the examination from the time
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Which of the following would not be an operations function in a fast-food restaurant? A) advertising and promotion The Dulac Box plant produces 500 cypress packing boxes in two 8-hour shifts. The use of new technology has enabled them to increase productivity by 30%. Productivity is now approximately D) 40.6 boxes/hr. 3.One reason for global operations is to gain improvements in the supply chain. A) True 4.Productivity is the total value of all inputs to the transformation process divided by the
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walks through a cafe’s door. The sale of each entrée represents one customer. They forecast monthly guest counts‚ retail sales‚ banquet sales‚ and concert sales (if applicable) at each café. In order to evaluate management‚ a 3-year weighted moving average is applied to cafe sales. As the text described‚ the most recent two years are weighted 40% each while the third prior year is weighted at 20%. If cafe general managers exceed their targets‚ a bonus is computed. By having a sophisticated evaluation
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Moving to Greensboro NC: Home Buyer Guide If you are purchasing a home in Greensboro‚ NC‚ it’s an exciting time in your life. The idea of owning something as large as a home is mind-blowing to everyone‚ even people who already own a home. After you’ve purchased your home‚ the move can be challenging as well. The more time you take to prepare for all the unknowns‚ the less likely you will experience a headache as a result of your move. Best Time to Buy a Home First things first‚ it’s important to
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of everyone. Let’s start with a time series where we know the answer. In the example below‚ X starts at 100‚ grows 3%‚ then falls back again‚ then grows 3% again. So over the three years‚ it has grown from 100 to 103. 1 Year 2000 2001 2002 2003 Average CAGR 2 3 4 X Growth X DlnX 100 103 0.03 0.0295588 100 -0.0291262 -0.0295588 103 0.03 0.0295588 0.01029126 0.00985293 0.00990163 Column 3 calculates by Xt/Xt-1 -1 and column 4 by ln(Xt)-ln(Xt-1)‚ click on the spreadsheet to check. What can we say
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Babe Ruth isn’t human. Indeed he’s not human when we talk about baseball. He’s records are incredible. They cannot be broken by any other human being and for 30 years he has stood number 1 in the hall of fame. Now here are his records. * Batting average: .342 Home runs: 714 Hits: 2‚873 RBI: 2‚213 Pitching W/L record: 94-46 ERA: 2.28 These records are still 1st in the world’s baseball league. Remember that baseball is a game of records and Babe Ruth’s records are still standing 1st which means
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