OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
7th Edition
ISBN: 9780077835439
Author: Roger G Schroeder, M. Johnny Rungtusanatham, Susan Meyer Goldstein
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 10, Problem 3P
3-The ABC Floral Shop sold the following number of geraniums during the last two weeks:
| Day | Demand | Day | Demand |
| 1 | 200 | 8 | 154 |
| 2 | 134 | 9 | 182 |
| 3 | 147 | 10 | 197 |
| 4 | 165 | 11 | 132 |
| 5 | 183 | 12 | 163 |
| 6 | 125 | 13 | 157 |
| 7 | 146 | 14 | 169 |
Develop a spreadsheet for the following.
- a. Calculate
forecasts using a three- and five-period moving average. - b. Graph these forecasts and the original data using Excel. What does the graph show?
- c. Which of the above forecasts is best? Why?
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Monthly data for the sales of certain product at a local company during the las 9 periods are shown in below table. (Fill all the blanks. Allow 2 decimal values).
a. Determine the forecasts for periods 5 through 9 using three-period moving averages, and the forecasts for periods 7 and 9 using six-month period moving averages.
b.Calculate the forecast errors for three-period moving averages and forecast errors for six-period moving averages.
c. Calculate the MAD for three-period moving averages and six-period moving averages.
d. If a smoothing constant of 0.4 was analyzed for the data, and you were informed that forecast for period 1 was 1,450; based on these assumptions, calculate the forecast for period 2.
4. What is the difference between trend and seasonality in time series data?
5. Here are the errors associated with a particular forecast over the past 5 months, in
chronological order: 5, 10, -15, 0, 8. In which month was the forecast perfectly
accurate? In which month was the forecast the least accurate? In which month or
months was the forecast too high? (Noteshaper Ramp Up # 23)
6. Tutoring Center needs to allocate tutors this week for office appointments, so it needs
to forecast the number of students who will seek appointments. The director has
gathered the following time series data recently:
Time Period
Code
Student Appointments
Jan 6 - 10
95
Jan 13 - 17
80
Jan 20 - 24
65
Jan 27 – 31
4
50
a) What is the naïve forecast for the number of student appointments for Time
Period 5 (Feb 3– 7)?
b) What is the 2 week moving average for Time Period 5?
c) What is the 3 week moving average for Time Period 5?
d) What is the forecast for Time Period 5 using exponential smoothing with alpha =…
4, The accompanying dataset provides the closing prices for four stocks and the stock exchange over 12 days. Complete parts a through c.
Complete the exponential smoothing forecast model for stock B.
(Type integers or decimals rounded to two decimal places as needed.)
Date
Forecast B
09/03/2010
09/07/2010
enter your response here
09/08/2010
enter your response here
09/09/2010
enter your response here
09/10/2010
enter your response here
09/13/2010
enter your response here
09/14/2010
enter your response here
09/15/2010
enter your response here
09/16/2010
enter your response here
09/17/2010
enter your response here
09/20/2010
enter your response here
09/21/2010
enter your response here
Date
A
B
C
D
Stock Exchange
09/03/2010
127.07
18.54
20.84
15.44
10,536.56
09/07/2010
124.84
18.21
20.45
15.55
10,245.77
09/08/2010
125.67
17.77
20.83
15.72…
Chapter 10 Solutions
OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
Ch. 10.S - Ace Hardware sells spare parts for lawn mowers....Ch. 10.S - eXcel The daily demand for chocolate donuts from...Ch. 10.S - The SureGrip Tire Company produces tires of...Ch. 10.S - eXcelManagement believes there is a seasonal...Ch. 10.S - Management of the ABC Floral Shop believes that...Ch. 10 - Prob. 1DQCh. 10 - What is the distinction between forecasting and...Ch. 10 - Qualitative forecasting methods should be used...Ch. 10 - Describe the uses of qualitative, time-series, and...Ch. 10 - Qualitative forecasts and causal forecasts are not...
Ch. 10 - Prob. 6DQCh. 10 - What are the advantages of exponential smoothing...Ch. 10 - How should the choice of be made for exponential...Ch. 10 - Prob. 9DQCh. 10 - Prob. 10DQCh. 10 - Explain how CPFR can be used to reduce forecasting...Ch. 10 - Under what circumstances might CPFR be useful, and...Ch. 10 - Daily demand for marigold flowers at a large...Ch. 10 - The number of daily calls for the repair of Speedy...Ch. 10 - 3-The ABC Floral Shop sold the following number of...Ch. 10 - The Handy Dandy Department Store had forecast...Ch. 10 - 5-The Yummy Ice Cream Company uses the exponential...Ch. 10 - Using the data in problem 2, prepare exponentially...Ch. 10 - Compute the errors of bias and absolute deviation...Ch. 10 - eXcel At the ABC Floral Shop, an argument...Ch. 10 - Only a portion of the following table for...Ch. 10 - A candy store has sold the following number of...Ch. 10 - eXcel A grocery store sells the following number...Ch. 10 - Prob. 12PCh. 10 - The Easyfit tire store had demand for tires shown...Ch. 10 - Prob. 14P
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