Homework Help is Here – Start Your Trial Now!
Business
Operations Management
***4.9 Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows: PRICE PER CHIP PRICE PER CHIP MONTH MONTH January $1.80 July 1.80 February 1.67 August 1.83 March 1.70 September 1.70 April 1.85 October 1.65 May 1.90 November 1.70 June 1.87 December 1.75

***4.9 Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows: PRICE PER CHIP PRICE PER CHIP MONTH MONTH January $1.80 July 1.80 February 1.67 August 1.83 March 1.70 September 1.70 April 1.85 October 1.65 May 1.90 November 1.70 June 1.87 December 1.75

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
See similar textbooks
icon
Related questions
Question
a) Use a 2-month moving average on all the data and plot the averages and the prices. b) Use a 3-month moving average and add the 3-month plot to the graph created in part (a). c) Which is better (using the mean absolute deviation): the 2-month average or the 3-month average? d) Compute the forecasts for each month using exponential smoothing, with an initial forecast for January of S1.80. Use a = .1, then a = 3, and finally a = .5. Using MAD, which a is the best? Px
Transcribed Image Text:a) Use a 2-month moving average on all the data and plot the averages and the prices. b) Use a 3-month moving average and add the 3-month plot to the graph created in part (a). c) Which is better (using the mean absolute deviation): the 2-month average or the 3-month average? d) Compute the forecasts for each month using exponential smoothing, with an initial forecast for January of S1.80. Use a = .1, then a = 3, and finally a = .5. Using MAD, which a is the best? Px
...4.9 Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows: PRICE PER CHIP PRICE PER MONTH MONTH CHIP January $1.80 July 1.80 February 1.67 August 1.83 March 1,70 September 1.70 Аpril 1.85 October 1.65 May 1.90 November 1.70 June 1.87 December 1.75
Transcribed Image Text:...4.9 Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the past 12 months were as follows: PRICE PER CHIP PRICE PER MONTH MONTH CHIP January $1.80 July 1.80 February 1.67 August 1.83 March 1,70 September 1.70 Аpril 1.85 October 1.65 May 1.90 November 1.70 June 1.87 December 1.75
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 45 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Introduction to Forecasting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS