Hassan owns a company that manufactures sailboats. Actual demand forHassan's sailboats during each season in 2006 through 2009 was as follows;YEARSeason2006200720082009Winter1,4001,2001,000900Spring1,5001,4001,6001,500Summer1,0002,1002,0001,900Fall600750650500Hassan has forecasted that annual demand for his sailboats in 2011 will equal5,600 sailboats. Based on this data and the multiplicative seasonal model, whatwill the demand level be for Hassan's sailboats in the spring of 2011?

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Answered: Hassan owns a company that manufactures…

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...

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The purpose of this assignment is to utilize Distribution Requirements Planning (DRP) parameters and inventory data to determine planned order releases in central warehouses. address each problem using full sentences and proper spelling and grammar and submit in an Excel template. 2. For the warehouse of Figure 14.8, suppose actual demands were 24, 16, and 18 in periods 1, 2, and 3, respectively. The initial DRP record is: Forecast requirements In transit Projected available balance Planned shipments Q=40; lead time=1; SS=6. 6 1 20 40 26 Period 2 3 4 5 20 20 20 20 6 266 26 40 40 a. Create the other three DRP records as done in Figure 14.8. What problem is created in period 2? What can be done? b. Does error addback work for this set of circumstances?
10. Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 4 months were as follows: Month Price Per Chip January $1.85 February $1.61 March $1.63 April $1.83 This exercise contains only parts a, b, and c. Part 2 a) Using a 2-month moving average, calculate the forecast for March and April (round your responses to two decimal places). Month Mar Apr Forecast $________ $________
Suppose the weekly demand for a call centre is shown in the table below. Apply the moving average and exponential smoothing methods to forecast the demand for Week 17.Assume the following:Simple moving average method: two-week moving averageSingle exponential smoothing method: assume the 1st week forecast is 333 and α=0.65.Include the MSE, MAD and MAPE in your calculations. Based on your results, recommend which method should be used and give reasons to support your recommendation. Week Demand (Number of calls) 1 300 2 360 3 410 4 289 5 279 6 302 7 376 8 329 9 248 10 322 11 503 12 511 13 399 14 402 15 380 16 469
12.7 The Intrepid mutual fund of growth stocks has had the following average monthly price for the past 10 months. Month 1 2 3 4 5 6 7 8 9 10 Fund Price 62.7 63.9 68.0 66.4 67.2 65.8 68.2 69.3 67.2 70.1 Compute the exponentially smoothed forecast with a = 0.40, the adjusted exponentially smoothed forecast with a = 0.40 and ß = 0.30, and the linear trend line forecast. Compare the accuracy of the three forecasts using cumulative error and MAD, and indicate which forecast appears to be most accurate.
UltraPure used two different techniques (F1 and F2) to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are in the table below. PREDICTED DEMAND Period Demand F1 F2 1 68 67 60 2 75 67 67 3 70 71 70 4 74 69 72 5 69 71 77 6 72 70 77 7 80 72 75 8 78 75 83 a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.)
Period Demand 1 2 3 4 5 64 ៩៩៨៖ 62 65 61 66 a. Compute a weighted average forecast using a weight of 0.4 for the most recent period, 0.3 for the next most recent, 0.2 for the next, and 0.1 for the next. (Round all your answers to two decimal points.) Forecast Period 5 Forecast Period 6 b. If the actual demand for period 6 is 65, forecast demand for period 7 using the same weights as in part a. Forecast Period 7
part b)
A bakery called Sweet Treats operates in a busy downtown area. It is trying to decide whether to add another oven to its kitchen next year. The number of cakes baked over the last four quarters are as follows: Q1 = 950, Q2 = 1,100, Q3 = 1,050, and Q4 = 1,200 cakes. The forecast for cakes baked in the second quarter was 1,000 cakes. a) What is the forecast for the fifth quarter using exponential smoothing with a = 0.15? b) Given only what you learned in a, should the bakery add another oven?
Compile a forecast for sales in Q1, Q2, Q3, and Q4 for 2013.
The following table contains sales data for the last eight periods. Forecast the sales for period 9 using a moving average forecast of 3 periods. Period Sales Period Sales 1 24 5 79 2 48 6 69 3 56 7 56 4 69 8 22 a. 61 b. 54 c. 49 d. 68
Assume today's date is 12/31/2023. Actual sales and forecast for 2023 are given below. Actual Forecast 2023 72.4 66.9 59.5 61.2 260 2023 69 67 Q3 61 Q4 59 Total 256 Obtain the MAD Q1 Q2 7.2 1.8 -1
The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand 6 8 4 9 13 8 11 14 9 13 7 Part 2 Using exponential smoothing with α = 0.40 and a forecast for year 1 of 5.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place). Year 1 2 3 4 5 6 7 8 9 10 11 12 Forecast 5.0 5.45.4 6.46.4 5.55.5 6.96.9 9.39.3 8.88.8 9.79.7 11.411.4 10.410.4 11.511.5 9.79.7 Part 3 Provide the forecast from periods 2 through 12 using the naive approach (enter your responses as whole numbers). Year 2 3 4 5 6 7 8 9 10 11 12 Forecast enter your response here enter your response here enter your response here enter your…

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