The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's fleet of over-the-road tractors. The manager believes that the cost of maintaining the tractors increases with their age. The following data was collected: Yearly Age Maintenance Age Maintenance Cost (S) (years) Cost ($) 1,319 5.0 1,894 5.5 1.749 1.5 863 5.5 1.733 1.5 882 17117 5.0 1,195 7.0 1,464 5.0 1,423 7.0 2,073 5.0 1,381 2.0 1,678 1,590 2.0 2,222 2.0 1,687 where Y = Yearly maintenance cost in dollars and X = Age in years. (years) 5.5 6.0 6.0 6.5 Yearly Y=+x 1,166 1,249 a. Use POM for Windows' least squares-linear regression module to develop a relationship to forecast the yearly maintenance cost based on the age of a tractor. (Enter your responses rounded to three decimal places and include a minus sign if necessary.) D
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- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: (4 year ago Quantity sold was 10842), (3 year ago Quantity sold was 11881 ), (2 year ago Quantity sold was 16064 ) and the last year Quantity sold was 19273 . The previous trend line had predicted 12250 for three years ago, 13000 for two years ago and 13750 for last year. What was the mean absolute percent error (MAPE) for these forecasts? a. 16.95 b. 2739 c. 0.17 d. 2985The materials handling manager of a manufacturing company is trying to forecast the cost of maintenance for the company's fleet of over-the-road tractors. The manager believes that the cost of maintaining the tractors increases with their age. The following data was collected: Yearly Maintenance Yearly Maintenance Age (years) Age (years) Cost ($) Cost (S) 6.5 819 8.0 1,394 5.5 1,249 2.5 363 6.5 1,233 2.5 382 7.0 695 9.0 964 6.0 923 8.0 1,573 6.0 881 3.0 1,178 7.0 1,090 3.0 666 7.0 1,722 3.0 749 7.5 1,187 a. Use POM for Windows' least squares-linear regression module to develop a relationship to forecast the yearly maintenance cost based on the age of a tractor. (Enter your responses rounded to three decimal places and include a minus sign if necessary.) Y = 365.727 + 110,721 X where Y = Yearly maintenance cost in dollars and X= Age in years. b. If a section has 20 four-year-old tractors, what is the forecast for the annual maintenance cost? $ |- (Enter your response rounded to two…
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- Bill Kime's bowling ball factory makes bowling balls of adult size and weight only. The standard deviation in the weight of a bowling ball produced at the factory is known to be 0.39 pounds. Each day for 24 days, the average weight, in pounds, of 9 of the bowling balls produced that day has been assessed as follows Day 1 2 3 4 5 6 Average (lb) 9.9 9.9 10.1 10.1 99 99 Day 7 8 9 10 11 12 Average (lb) Day Average (b) 13 14 15 16 17 18 10.1 10.0 10.0 10.1 10.1 10.0 9.9 10.1 10.1 10.0 10.1 10.1 Day 19 20 21 22 23 24 Average (lb) 99 10.0 10.1 9.9 10.0 10.0 a) Establish a control chart for monitoring the average weights of the bowling balls in which the upper and lower control limits are each two standard deviations from the mean What are the values of the control limits? Upper Control Limit (UCL)=b (Round your response to two decimal places)year quarterly sales (000 units) Q1 Q2 Q3 Q4 2016 1300 1500 1200 2000 2017 1600 1800 1100 2200 2018 1700 1900 1300 2300 2019 1800 2100 1400 2500 Using a simple regression analysis, determine the trend equation of the sales and use it to estimate the number of units of clothing sold throughout the fiscal year 2020. Assume that Q1 of 2016 is 1, Q2 of 2016 is 2, etc. Show all relevant cakculation detailDFC Company has recorded the past years sales for the company: Year(t) Sales(x) (in Million Pesos) 2011(1) 2012(2) 2013(3) 2014(4) 2015(5) 2016(6) 2017(7) 2018(8) 2019(9) 2020(10) 219 224 268 272 253 284 254 278 282 298 Use the naïve model. Compute for MAE and MSE Use a three period moving average. Compute for the MAE and MSE Use the simple exponential smoothing to make a forecasting table. Compute the MAE and MSE of the forecasts. Alpha = 0.1 Use the least square method to make the forecasting table. Compute the MAE and MSE *** Use excel or r programming
- Records pertaining to the monthly number of job-related injuries at an underground coal mine were being studied by a government agency. The values for the past 100 months were as follows: Injuries Frequency of per Month Occurrence 32 40 2 15 3 4 1. 1. Apply the chi-square test to these data to test the hypothesis that the underlying distribution is Poisson. Important note: In the answer box below, just put the numerical test statistic value. Use x.xx format for the numerical value you provide as the answer. Do NOT compare the test statistic with the critical value from a table. Answer:1.The reported unemployment is 5.5% of the population. What measurement scale is used to measure unemployment? Interval Nominal Ordinal Ratio 2.Which one of the following is NOT an example of discrete data? Number of employees reporting in sick Number of households watching the Home Shopping Network Number of miles between New York City and Chicago Number of members of the Denver Lions ClubA student group on a college campus wanted to create a survey about parking availability on campus. The student group randomly selected 300 students to take the survey. One of the questions read, “Many students believe the lack of available parking is a major problem. Do you agree or disagree?” Of the 300 students that took the survey, 285 surveys were returned. This survey will most likely suffer from which of the following types of bias? There is no bias in the way this survey is carried out. Response bias Selection bias Non-response bias