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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Chapter 10.S, Problem 1P
Ace Hardware sells spare parts for lawn mowers. The following data were collected for one week in May when replacement lawn-mower blades were in high demand:
| Day | Demand |
| 1 | 10 |
| 2 | 12 |
| 3 | 13 |
| 4 | 15 |
| 5 | 17 |
| 6 | 20 |
| 7 | 21 |
- a. Simulate a
forecast for the week, starting with F1 = 10. T0 = 2, α = .2, and β = .4. Use the trend model given in the chapter supplement. - b. Compute the MAD and tracking signal for the data. Use MADo = 0
- c. Are the MAD and tracking signal within tolerances?
- d. Simulate a forecast using simple smoothing for the week, starting with F1 = 10 and α = .2. Plot the forecast and the demand on a graph. Note how the forecast lags behind demand.
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The following equation summarizes the trend portion of quarterly sales of condominiums over a long cycle. Sales also exhibit seasonal variations. Ft = 51 − 4.1t + 3.1t 2 whereFt = Unit sales t = 0 at the first quarter of last year
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Click here for the Excel Data File
Using the information given, prepare a forecast of sales for each quarter of next year (not this year), and the first quarter of the year following that. (Round intermediate calculations and final answers to 2 decimal places.)
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Part 2
Using the
least-squares regression
LOADING...
method, the trend equation for forecasting is (round your responses to two decimal
places):
y
=
+
enter your response herex
Part 3
Using least-squares regression, the forecast for the number of accidents that will occur in the month of May =
enter your response here
accidents (enter your response as a whole number).
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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