Comp Sets Answer the following questions regarding Comp Sets. Demonstrate how KPIs and percent changes are calculated when it comes to comp set data. Demonstrate how indexes and ranking data are calculated comparing the subject to the comp set. Explain the significance of indexes to the hotel Industry. Explain the effect of non-reporting hotels in a comp set. When will different types of comp set data not appear on a STAR report

Comp Sets Answer the following questions regarding Comp Sets. Demonstrate how KPIs and percent changes are calculated when it comes to comp set data. Demonstrate how indexes and ranking data are calculated comparing the subject to the comp set. Explain the significance of indexes to the hotel Industry. Explain the effect of non-reporting hotels in a comp set. When will different types of comp set data not appear on a STAR report

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 56P

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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?
A method of estimating future demand usedfor decision making in order to set reasonable targets and control orlimit uncertainties or risks.
Whitebridge Hardware Store Whitebridge Hardware Store has a monthly demand for lawn fertilizer listed below. The gardening season starts in early spring when people want to fertilize their lawns. Period Demand Jan 59 Feb 68 March 91 April 145 May 182 June 212 July 193 Aug 174 Sept 144 Oct 89 Nov 74 Dec 55 Answer Questions 1 – 5 below. [Be sure to watch the video on how to complete your forecasting problem, in the content module.] Everything must be typed including the graph. You need to complete this assignment in Excel. For the narrative answers, you can include them in Excel in one or more of the empty cells. If you know how to add an extra worksheet, you can add your answers on a new worksheet. Or you can type them in a Word document Please include your name somewhere. In the Assignments area, a…
2. Fastway is a parcel delivery company based in Pretoria. It measures demand on a weekly basis in terms of the number of parcels which it is given to deliver (irrespective of the size of each parcel). The forecast for week 20 is 63. The table below shows actual demands for Fastway. Week Actual demand 20 63 21 62 22 67 23 66 24 67 25 69 26 65 27 71 28 68 29 68 30 70 31 72 32 66 33 68 34 67 Predict the forecast for week 35 using an exponential smoothing with a smoothing constant of 0.20.
We have seen the importance of demand forecasting affecting supply chain decisions in many ways. How does the reliability of demand forecasting affect a model to place warehouses for customers? Knowing that there is no specific answer that is always appropriate, how good (measured in percent close) do forecasts have to be in order to be used for network modeling?
Problem 18-28 (Algo) The following are historical demand data: YEAR SEASON 2011 Spring Summer Fall 2012 Winter Spring Summer Fall Winter ACTUAL DEMAND 210 136 375 582 465 274 695 972 Use regression analysis on deseasonalized demand to forecast demand in summer 2013. (Do not round intermediate calculations. Round your answer to the nearest whole number.) Forecast for summer 2013
Year Sales 1) 123 2)118 3) 109 4) 112 5) 100 6) 110 7) 124 8)Determine the demand in Year 8 using a 3-month moving average using the sales table. Use weights of 0.40, 0.30 and 0.30
There is an ongoing debate about the roles of quantitative and qualitative inputs in demand estimation and forecasting. Those in the qualitative camp argue that statistical analysis can only go so far. Demand estimates can be further improved by incorporating purely qualitative factors. Quantitative advocates insist that qualitative, intuitive, holistic approaches only serve to introduce errors, biases, and extraneous factors into the estimation task. Suppose the executive for the theater chain is convinced that any number of bits of qualitative information (the identity of the director, the film’s terrific script and rock-music sound track, the Hollywood “buzz” about the film during production, even the easing of his ulcer) influence the film’s ultimate box-office revenue. How might one test which approach—purely qualitative or statistical, provides better demand or revenue estimates? Are there ways to combine the two approaches? Provide concrete suggestions
The following table shows the actual demand observed over the last 11 years: Year 1 Demand 8 2 9 3 5 This exercise contains only parts b, c, and d. b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). Year Forecast 4 5 4 10 6 5 13 7 6 7 8 7 11 9 8 14 10 9 8 11 10 13 12 11 8
Year Month Actual Orders/Demands 2020 Apr 120 May 90 Jun 100 Jul 75 Aug 110 Sep 50 Oct 75 Nov 130 Dec 110 2021 Jan 90 Feb
14. The demand for Krispee Crunchies is experiencing a decline. The company wants to monitor demand for this product closely as it nears the end of its life cycle. The following table shows the actual sales history for January to October. Generate forecasts for November to December, using the trend projection with regression method. Looking at the accuracy of its forecasts in the Trend Projection Worksheet, as well as the other statistics provided, how confident are you in these forecasts for November to December? Month January February March April May June Sales 890,000 800,000 825,000 840,000 730,000 780,000 Month July August September October November December Sales 710,000 730,000 680,000 670,000
TIRES FOR YOU - Forecast & EOQ Forecast Tires for You, Inc. (TFY), founded in 1987, is an automotive repair shop specializing in replacement tires. Located in Altoona, PA, TFY has grown successfully over the past few years because of the addition of a new general manager, Katie McMullen. Since tire replacement is a major portion of TFY's business (it also performs oil changes, small mechanical repairs, etc.), Katie was surprised at the lack of forecasts for tire consumption for the company. Her senior mechanic, Skip Grenoble, told her that they usually stocked for this year what they sold last year. He readily admitted that several times throughout the season stockouts occurred and customers had to go elsewhere for tires. Although many tire replacements were for defective or destroyed tires, most tires were installed on cars whose original tires had worn out. Most often, four tires were installed at the same time. Katie was determined to get a better idea of how many tires to…