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 20P
Summary Introduction
Interpretation: Simple moving average
Concept Introduction: Analyzing overall trend in the data set is called moving average technique which is calculated taking specific periods attributes average excluding recent top values.
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Students have asked these similar questions
A restaurant wants to forecast its weekly sales. Historical data (in dollars) for 15 weeks are shown in this Excel file (also shown in Problem 6 on page 243 in the textbook).
Answer the following questions related to this information:
Provide insight about the time series. What are the trends and stability of the data?
What is the forecast for Week 16, using a two-period moving average? (use cell B6 for number of periods)
What is the forecast for Week 16, using a three-period moving average? (use cell B6 for number of periods)
What is the MSE for the two- and three-period moving average models? Compare the results.
Find the best number of periods for the moving average model based on MSE.
The number of fishing rods selling each day is given below. Perform analyses of the time series to determine which model should be used for forecasting.
3 day moving average analysis
4 day moving average analysis
3 day weighted moving average analysis with weights W1=0.2, W2=0.3 and W3=0.5 with W1 on the oldest data.
Exponential smoothing analysis with A=0.3
Which model provides a better fit of the data?
Forecast day 13 sales of fishing rods using the model chosen in part (e)
Day
Rods Sold
1
60
2
70
3
110
4
80
5
70
6
85
7
115
8
105
9
65
10
75
11
95
12
85
Please read the relevant article, found in the VLE, before answering the question. Discuss the process and findings of the study of the article. Suggest a possible study that could be done at your current or past job that could use a similar methodology and analysis.
A police station had to deploy a police officer for an emergency multiple times in the last four evenings. The table below shows the
number of emergencies each evening.
(Round your answers to 3 decimal places.)
Forecast for tomorrow
Weekday
Number of calls each day
(calls)
9.
Monday
9
uesday
6.
Wednesday
8
Thursday
12
Complete the "Forecast for tomorrow" column in the table above. Use an exponential smoothing
a.
forecasting approach, with a=0.3 and a forecast for Monday of 9.
(Round your answer to 3 decimal places.)
What would be their forecast for Friday using the same exponential
b.
smoothing forecasting approach?
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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