EMIS 8348 Homework 1 – Part 1 Solutions Problem 1: Observations of the demand for a certain part stocked at a parts supply depot during the calendar year 1999 were Month January February March April May June Demand 89 57 144 221 177 280 Month July August September October November December Demand 223 286 212 275 188 312 a. Determine the one-step-ahead forecasts for the demand for January 2000 using 3-‚ 6-‚ and 12-month moving averages. b. Using a four-month moving average‚ determine the
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Q1. Sales of a particular product (in 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
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MGT 2070 Assignment #2 – Solutions 4.1 Registration numbers for an accounting seminar over the past 10 weeks are shown below: a) Starting with week 2 and ending with week 11‚ forecast registrations using the naïve forecasting method. Naïve Forecast Ft = At-1 ie F2 = A1 = 22. Carrying this down the table through to week 11 gives: Week 1 2 3 4 5 6 7 8 9 10 11 Registrations 22 21 25 27 35 29 33 37 41 37 Forecast 22 21 25 27 35 29 33 37 41 37 (3 marks) b) Starting with week 3
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increase the rate to 360 dolls per day. Total material cost for each doll is approximately $3.50; she has to spend $40 in the necessary supplies (expendables) per day; energy costs are assumed to be only $4.00 per day; and she makes $10 per hour for her time. a) Viewing this from a total (multifactor) productivity perspective‚ what is her productivity at present and what is her productivity with the new paint in terms of dolls per dollar? (15 points) b) If she uses the new paint‚ by what amount could
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Business Statistics I: QM 1 Lecture N otes by Stefan W aner (5th printing: 2003) Department of Mathematics‚ Hofstra University BUSINESS STATISTCS I: QM 001 (5th printing: 2003) LECTURE NOTES BY STEFAN WANER TABLE OF CONTENTS 0. Introduction................................................................................................... 2 1. Describing Data Graphically ...................................................................... 3 2. Measures of Central Tendency
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Forecasting In order for a business to be successful it must come up with the most accurate forecast possible so they can plan for the demands. There are forecasting tools that assist with making calculations to receive the best outcome by your company’s needs. The tools are moving average‚ weighted moving average and exponential smoothing. The moving average takes the total of actual demand for previous months then divides by the number of months added. The number of months that is used can
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(b) [i] Naive The coming January = December = 23 [ii] 3-month moving (20 + 21 + 23)/3 = 21.33 [iii] 6-month weighted [(0.1 17) + (.1 18) + (0.1 20) + (0.2 20) + (0.2 21) + (0.3 23)]/1.0 = 20.6 [iv] Exponential smoothing with alpha = 0.3 [v] Trend Forecast = 15.73 + .38(13) = 20.67‚ where next January is the 13th month. (c) Only trend provides an equation that can extend beyond one month 4.23 Students must determine the naive forecast for the four months
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Complete the following case study and problems and submit the results in either a Microsoft Word document or a Microsoft Excel spreadsheet. If you choose to use an Excel spreadsheet‚ place each problem on a separate sheet and label the tab with problem number. Save your document with a descriptive file name‚ including the assignment and your name. Chapter 4: North-South Airline Case Study: In January 2008‚ Northern Airlines merged with Southeast Airlines . . . 3-1 Data collected on the yearly demand
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cremations as well. We had to figure body weight to how long a burn must be‚ as well as correct temperature and time. You would not believe how vital this information is. I know it sounds disturbing at times‚ and many people don’t want to think about it. The reality is that these are the types of jobs that keep our society going. I have also used the weight/size measure during my time as a logistics manager. The importance of this is the charges that occur when transporting. It does not surprise
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Why has the value of cash increased over time? * Thomas W. Bates Arizona State University Thomas.Bates@asu.edu Ching-Hung (Henry) Chang Arizona State University Ching-Hung.Chang@asu.edu Jianxin (Daniel) Chi University of Nevada‚ Las Vegas Daniel.Chi@unlv.edu First Draft: January 2011 This Draft: December 2011 Abstract: The value of cash holdings by U.S. non-financial firms has increased significantly over the past three decades. An additional dollar of cash holdings is valued at $0.61 in
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