Mylab Operations Management With Pearson Etext -- Access Card -- For Operations Management: Sustainability And Supply Chain Management (13th Edition)
13th Edition
ISBN: 9780135225899
Author: Jay Heizer, Barry Render, Chuck Munson
Publisher: PEARSON
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Chapter 4, Problem 48P
Question
•• 4.35 Rhonda Clark, a Slippery Rock, Pennsylvania, real estate developer, has devised a regression model to help determine residential housing prices in northwestern Pennsylvania. The model was developed using recent sales in a particular neighborhood. The price (Y) of the house is based on the size (square foot-age = X) of the house. The model is:
The coefficient of correlation for the model is 0.63.
- a. Use the model to predict the selling price of a house that is 1,860 square feet.
- b. An 1,360-square-foot house recently sold for $95,000. Explain why this is not what the model predicted.
- c. If you were going to use multiple regression to develop such a model, what other quantitative variables might you include?
- d. What is the value of the coefficient of determination in this problem?
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Question 3
An organization uses a business intelligence system to predict products that tend to
be purchased together. This is an example of.
O A) Regression Analysis
B) Cluster Analysis
C) REM Analysis
D) Market Basket Analysis
QUESTION 2:The manager of YTL Computers wants to develop next year’s quarterly forecasts of salesrevenue for its brand laptops. The sales are seasonal and the company believes that thefollowing most recent eight quarters of sales should be representative of next year’ssales:
Year
Quarter
Sales (millions of dollars)
1
1
9.2
1
2
5.4
1
3
4.3
1
4
14.1
2
1
10.3
2
2
6.4
2
3
5.4
2
4
16.0
Determine the forecast of next year’s quarterly sales revenue for this line of laptops.Show all your workings.
(8 points) Infoworks is a large computer discount store that sells computers and ancillary equipment and software in the town where a State University is located. Infoworks has collected historical data on computer sales and printer sales for the past 10 years, as follows:
Develop a linear regression model relating printer sales to computer sales in order to forecast printer demand in year 11 if 1,300 computers are sold.
Develop a moving-average model with n = 3 to forecast printer demand in year 11
Develop an exponential smoothing model with α = .30 to forecast printer demand in year 11.
Compare your result in a, b, c. Which model would you choose and why?
Chapter 4 Solutions
Mylab Operations Management With Pearson Etext -- Access Card -- For Operations Management: Sustainability And Supply Chain Management (13th Edition)
Ch. 4 - Prob. 1EDCh. 4 - What is a qualitative foretasting model, and when...Ch. 4 - Identify and briefly describe the two general...Ch. 4 - Identify the three forecasting time horizons....Ch. 4 - Briefly describe the steps that are used to...Ch. 4 - A skeptical manager asks what medium-range...Ch. 4 - Explain why such forecasting devices as moving...Ch. 4 - What is the basic difference between a weighted...Ch. 4 - What three methods are used to determine the...Ch. 4 - Research and briefly describe the Delphi...
Ch. 4 - What is the primary difference between a...Ch. 4 - Define time series.Ch. 4 - What effect does the value of the smoothing...Ch. 4 - Explain the value of seasonal indices in...Ch. 4 - Which forecasting technique can place the most...Ch. 4 - In your own words, explain adaptive forecasting.Ch. 4 - What is the purpose of a tracking signal?Ch. 4 - Explain, in your own words, the meaning of the...Ch. 4 - What is the difference between a dependent and an...Ch. 4 - Give examples of industries that are affected by...Ch. 4 - Give examples of industries in which demand...Ch. 4 - Prob. 21DQCh. 4 - The following gives the number of pints of type B...Ch. 4 - 4.2 a. Plot the above data on a graph. Do you...Ch. 4 - Refer to Problem 4.2. Develop a forecast for years...Ch. 4 - A check-processing center uses exponential...Ch. 4 - The Carbondale Hospital is considering the...Ch. 4 - The monthly sales for Yazici Batteries, Inc., were...Ch. 4 - The actual demand for the patients at Omaha...Ch. 4 - Daily high temperatures in St. Louis for the last...Ch. 4 - Lenovo uses the ZX-81 chip in some of its laptop...Ch. 4 - Data collected on the yearly registrations for a...Ch. 4 - Use exponential smoothing with a smoothing...Ch. 4 - Consider the following actual and forecast demand...Ch. 4 - As you can see in the following table, demand for...Ch. 4 - Following are two weekly forecasts made by two...Ch. 4 - Refer to Solved Problem 4.1 on page 138. a. Use a...Ch. 4 - Solved example 4.1 Sales of Volkswagens popular...Ch. 4 - Refer to Solved Problem 4.1. Using smoothing...Ch. 4 - Consider the following actual (At) and forecast...Ch. 4 - Income at the architectural firm Spraggins and...Ch. 4 - Question 4.20 Resolve Problem 4.19 with =.1 and ...Ch. 4 - Question 4.21 Refer to the trend-adjusted...Ch. 4 - Question 4.22 Refer to Problem 4.21. Complete the...Ch. 4 - Question 4.23 Sales of quilt covers at Bud Baniss...Ch. 4 - Question 4.24 Mark Gershon, owner of a musical...Ch. 4 - Question 4.25 The following gives the number of...Ch. 4 - Prob. 25PCh. 4 - Question 4.27 George Kyparisis owns a company...Ch. 4 - Question 4.28 Attendance at Orlandos newest...Ch. 4 - Question 4.29 North Dakota Electric Company...Ch. 4 - Lori Cook has developed the following forecasting...Ch. 4 - Prob. 45PCh. 4 - Question 4.32 The following data relate the sales...Ch. 4 - Question 4.33 The number of internal disk drives...Ch. 4 - Question 4.34 The number of auto accidents in...Ch. 4 - Question 4.35 Rhonda Clark, a Slippery Rock,...Ch. 4 - Accountants at the Tucson firm, Larry Youdelman,...Ch. 4 - Sales of tablet computers at Ted Glickmans...Ch. 4 - Question 4.38 City government has collected the...Ch. 4 - Dr. Lillian Fok, a New Orleans psychologist,...Ch. 4 - Using the data in Problem 4.39, apply linear...Ch. 4 - Bus and subway ridership for the summer months in...Ch. 4 - Emergency calls to the 911 system of Durham, North...Ch. 4 - Using the 911 call data in Problem 4.43, forecast...Ch. 4 - The following are monthly actual and forecast...Ch. 4 - Thirteen students entered the business program at...Ch. 4 - Question 4.47 Storrs Cycles has just started...Ch. 4 - Question 4.48 Dave Fletcher, the general manager...Ch. 4 - Prob. 35PCh. 4 - Prob. 36PCh. 4 - Prob. 37PCh. 4 - Prob. 38PCh. 4 - Prob. 39PCh. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Prob. 55PCh. 4 - Prob. 56PCh. 4 - Prob. 57PCh. 4 - Prob. 58PCh. 4 - Prob. 61PCh. 4 - Case study Southwestern University: (B) This...Ch. 4 - Case study Southwestern University: (B) This...Ch. 4 - Southwestern University: (B) This integrated case...Ch. 4 - For its first 2 decades of existence, the NBAs...Ch. 4 - For its first 2 decades of existence, the NBAs...Ch. 4 - For its first 2 decades of existence, the NBAs...Ch. 4 - For its first 2 decades of existence, the NBAs...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...
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