QUESTION 5 Choose the answer with the best match. Elements of a Good Forecast, Meaningful: The benefits should outweigh the costs It should work consistently The degree of accuracy of the forecast should be stated The forecasting horizon must cover the time necessary to implement possible changes so that its results can be used The units measured should be useful to those using the forecast QUESTION 6 There are two main approaches to forecasting. Choose the best two: Quantitative, Consumer Judgmental, Quantitative Sales force, Judgmental Historical, Consumer Expert, Executive QUESTION 7 Describe the following: Andon Maintaining equipment in good condition Maintaining a workplace that is clean System for moving work to the next station as it is completed System of lights used at each workstation to signal problems or slowdowns System for moving work from a preceding station as needed QUESTION 8 Housekeeping 5S: Set in order clean the workstation completely and eliminate all signs of dirt tidy up the objects needed and organize them such that they can be found quickly remove all objects that do not need to be in the workstation or area set standards in cleanliness and audit the area for compliance train personnel to perform the housekeeping and continuously improve on standards

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 25P: The file P13_25.xlsx contains the quarterly numbers of applications for home mortgage loans at a...

Choose the answer with the best match. Elements of a Good Forecast, Meaningful:

		The benefits should outweigh the costs
		It should work consistently
		The degree of accuracy of the forecast should be stated
		The forecasting horizon must cover the time necessary to implement possible changes so that its results can be used
		The units measured should be useful to those using the forecast

There are two main approaches to forecasting. Choose the best two:

Describe the following: Andon

		Maintaining equipment in good condition
		Maintaining a workplace that is clean
		System for moving work to the next station as it is completed
		System of lights used at each workstation to signal problems or slowdowns
		System for moving work from a preceding station as needed

Housekeeping 5S: Set in order

		clean the workstation completely and eliminate all signs of dirt
		tidy up the objects needed and organize them such that they can be found quickly
		remove all objects that do not need to be in the workstation or area
		set standards in cleanliness and audit the area for compliance
		train personnel to perform the housekeeping and continuously improve on standards

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