Production and Operations Analysis, Seventh Edition
Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
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Chapter 2.8, Problem 29P

(a)

Summary Introduction

To determine: The forecast for the total number of people using the S Park for calendar year 2014

Introduction: Forecasting based on regression equation accounts for a trend in the data. It actually suits a straight line with a data set.

(b)

Summary Introduction

To determine: The forecast for total users of S Park for calendar year 2014 using a six-moth moving average

Introduction: A moving average forecast is obtained by computing arithmetic average of the N that is the most recent observation of demand.

(c)

Summary Introduction

To explain: A curve of the most likely shape explaining the use of park by month during the calendar year; forecasting based on the obtained graph and its reassessment.

Introduction: Forecasting is done based on previously observed data. Assuming first six months/periods of 2014 as baseline, forecasted values for rest periods of the year can be attained.

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