Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
12th Edition
ISBN: 9780134741062
Author: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
Publisher: PEARSON
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Chapter 8, Problem 10P
A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The table here provides the number of cans sold per week. Use both the trend projection with regression and the exponential smoothing (let
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A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The following table provides the number of cans sold per week. Use both the trend projection with regression and the exponential smoothing (let alpha (α)=0.40
with an initial forecast for week 1 of 568) methods to forecast demand for week 13. Compare these methods by using the mean absolute deviation and mean absolute percent error performance criteria. Does your analysis suggest that sales are trending and if so, by how much?
(i) Obtain the trend projection with regression forecast. The forecast for week 13 is __. (Enter your response rounded to the nearest whole number.)
Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.)
MAD: ____
MAPE: ____%
(ii) Obtain the…
The table below shows the sales figures for a brand of shoe over the last 12 months.
Months
Sales
January
69
February
75
March
86
April
92
May
95
June
100
July
108
August
115
September
125
October
131
November
140
December
150
Using the following, forecast the sales for the months up to January the following year:-
A simple three month moving average.
A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data.
Exponential Smoothing when α= .6 and the forecast for March is 350.
Determine which of the three forecasting technique is the most accurate using MAD.
Demand for oil changes at Garcia's Garage has been as follows:
Month
January
February
March
April
May
June
July
August
Number of Oil Changes
38
55
56
60
58
01
70
52
a. Use simple linear regression analysis to develop a forecasting model for monthly demand. In this application, the dependent variable, Y, is monthly demand and the independent variable, X, is the
month. For January, let X=1; for February, let X 2; and so on.
The forecasting model is given by the equation Y=X (Enter your responses rounded to two decimal places)
Chapter 8 Solutions
Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
Ch. 8 - Figure 8.9 shows summer air visibility...Ch. 8 - Kay and Michael Passe publish What‘s...Ch. 8 - Demand for oil changes at Garcia’s Garage has...Ch. 8 - Prob. 2PCh. 8 - Ohio Swiss Milk Products manufactures and...Ch. 8 - A manufacturing firm has developed a skills test,...Ch. 8 - The materials handling manager of a manufacturing...Ch. 8 - Marianne Kramer, the owner of Handy Man Rentals,...Ch. 8 - Sales for the past 12 months at Computer Success...Ch. 8 - Bradley’s Copiers sells and repairs photocopy...
Ch. 8 - Consider the sales data for Computer Success given...Ch. 8 - A convenience store recently started to carry a...Ch. 8 - Community Federal Bank in Dothan, Alabama,...Ch. 8 - The number of heart surgeries performed at...Ch. 8 - The following data are for calculator sales in...Ch. 8 - Prob. 14PCh. 8 - Forrest and Dan make boxes of chocolates for which...Ch. 8 - The manager of Alaina’s Garden Center must make...Ch. 8 - The manager of a utility company in the Texas...Ch. 8 - Franklin Tooling, Inc., manufactures specialty...Ch. 8 - Create an Excel spreadsheet on your own that can...Ch. 8 - Prob. 20PCh. 8 - Using the data in Problem 20 and the Time-Series...Ch. 8 - Prob. 22PCh. 8 - Cannister, Inc., specializes in the manufacture of...Ch. 8 - The Midwest Computer Company serves a large number...Ch. 8 - A certain food item at P=0.20 (with a combination...Ch. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - A manufacturing firm seeks to develop a better...Ch. 8 - How much does the forecasting process at Deckers...Ch. 8 - Prob. 2VCCh. 8 - What factors make forecasting at Deckers...Ch. 8 - Prob. 4VCCh. 8 - Prob. 5VCCh. 8 - Comment on the forecasting system being used by...Ch. 8 - Develop your own forecast for bow rakes for each...
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