An electronics factory operates on four production lines: laptops, mobiles, desktopcomputers, smart boards, and there were three cases of demand (weak, medium,and high), and the matrix of returns was as follows:LaptopsMobilesRiskDesktop ComputersSmart BoardsHigh40453530Economic stateMedium251530201. The problem presented above is decision-making underCertaintyUncertaintyWeak105-10-5Save All AnswersSave and Submit

Decision making is an important step in any business organization. For a decision to be made, one…

Answered: An electronics factory operates on four…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Sandy James thinks that housing prices have stabilized in the past few months. To convince her boss, she intends to compare current prices with last year's prices. She collects 12 housing prices from the want ads: 125,900 253,000 207,500 146,950 121.450 135,450 175,000 200,000 210,950 166,700 185,000 191,950 She then calculates the mean and standard deviation of the prices she has found. What are these two summary values?
Exercise 2: The Patio, Inc. company manufactures patio furniture. From experience, you know that demand is seasonal, that is, there is a greater amount of demand for products in specific periods throughout a year of operations. In order to properly plan its production for the next year, the furniture sales (in units) for the previous two years were reviewed: 20X3 20X4 Seasonal index Average seasonal index 20X5 First quarter (Jan-Feb-Mar) 94,700 103,500 ¿? ¿? ¿? Second Quarter (Apr-May-Jun) 116,000 126,100 ¿? ¿? ¿? Third quarter (Jul-Aug-Sep) 152,500 166,200 ¿? ¿? ¿? Fourth quarter (Oct-Nov-Dec) 101,225 90,000 ¿? ¿? ¿? Use the multiplicative seasonal method to make a forecast for the year 20X5 based on the sales force estimate, which determined that the demand for furniture will be 15% higher than in the year 20X4. Calculate the average number of units sold per station.Calculate the seasonal index.Calculate the…
Write the three-point estimates for the six key input variables?
I just need the last one please (:
A company wants to forecast demand using the weighted moving average. If the company uses two prior yearly sales values (i.e., year 2015 = 110 and year 2016 = 130), and we want to weight year 2015 at 0.10 and year 2016 at 0.90, which of the following is the weighted moving average forecast for year 2017? Group of answer choices a. 120 b. 138 c. 142 d. 128 e. 133
(b) Demand history of five different products of a company is shown below. Products 2012 2013 2014 2015 2016 2017 2018 2019 2020 A 37 40 41 45 49 26 34 30 26 23 33 28 32 C 58 55 32 38 45 56 62 70 77 86 95 83 88 81 92 85 i. Name the methods that is suitable to forecast the demand of the above five products? ii. Forecast demand of the product B or D with error for the year 2021. If you need a value of a then consider it 0.7.
A manager uses a trend equation plus quarterly relatives to predict demand. Quarter relatives areSR1 = .90, SR2 = .95, SR3 = 1.05, and SR4 = 1.10. The trend equation is: Ft= 10 + 5t. Over thepast nine quarters, demand has been as follows:Period, t 1 2 3 4 5 6 7 8 9Demand 14 20 24 31 31 37 43 48 52Is the forecast performing adequately? Explain.
Construct a decision tree for this problem. What is the recommended decision if the agency opinion is not used? What is the expected value? What is the expected value of perfect information? What is Hale’s optimal decision strategy assuming the agency’s information is used? What is the expected value of the agency’s information? Is the agency’s information worth the $5000 fee? What is the maximum that Hale should be willing to pay for the information? What is the recommended decision?
Find forecasted value for 2017 using α = 0.5 and α = 0.7 using exponential smoothing method. Which α is better (10 Years Sales Forecasted sale 2012 25 ……. 2013 17 2014 21 2015 30 2016 27 2017 ?
4 .Substitute for Problem # 4 on in attachment)-Calculate the MAD,revised MAD and the Revised Forecast for months 1-6 for the following three groups,where the Forecast stands for Forecast Demand.Has your forecast improved ? Tell me how would you go about improving the revised forecast( for each of the three groups)without actually doing so? Estate Planning Group Auditing and Accounting Group Business Consulting Group Month Actual Demand Forecast Actual Demand Forecast Actual Demand Forecast 1 100 125 270 230 140 135 2 90 125 240 230 130 135 3 110 125 280 230 160 135 4 115 125 260 230 180 135 5 130 125 300 230 200 135 6 115 125 220 230 190 135
please answer in 30 mins.
Letz Products has two decisions to make, with the second decision dependent on the outcomeof the first. The company intends to build a new plant. Letz has the option of conducting itsown marketing research survey for which the results will either be positive or negative. Theinformation from this survey could help it decide whether to build a large plant, to build a smallplant, or not to build at all. Letz recognizes that although such a survey will not provide it withperfect information, it may be extremely helpful. Using the image explain to your client (Letz) what the above decision tree shows. You arerequired to show all working.

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