Operations Management
Operations Management
17th Edition
ISBN: 9781259142208
Author: CACHON, Gérard, Terwiesch, Christian
Publisher: Mcgraw-hill Education,
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Chapter 15, Problem 4CQ
Summary Introduction

To define: The forecast error.

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What is the definition of a forecast error?a. The average difference between the forecast and the actual outcomeb. The maximum difference between the forecast and the actual outcomec. The difference between the forecast and the actual outcomed. The percentage difference between the forecast and the actual outcome
1. Figure 8.90 shows summer air visibility measurements for Denver, Colorado. The acceptable visibility standard is 100, with readings above 100 indicating clean air and good visibility, and readings below 100 indicating temperature inversions caused by forest fires, volcanic eruptions, or collisions with comets. Figure 8.9 Summer Air Visibility Measurements Visibility rating 250 225 200 175 150 125 100 75 50- 25 0 Year 2 Year 1 22 25 28 31 3 July 6 9 12 15 18 21 24 27 30 Date August
In the Atlanta area, the number of daily calls for the repair of Speedy copy machines has been recorded as follows: October Calls 1 92 2 127 3 106 4 165 5 125 6 111 7 178 8 97   Prepare a three-period moving-average forecast for periods 4-8. What is the error on each day?   Prepare a three-period weighted moving average forecast for periods 4-8 using weights of w1=.5, w2=.3, w3=.2     Which of the two forecasts is better? (Use CFE to calculate the better method)
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