Operations and Supply Chain Management 9th edition
Operations and Supply Chain Management 9th edition
9th Edition
ISBN: 9781119320975
Author: Roberta S. Russell, Bernard W. Taylor III
Publisher: WILEY
bartleby

Concept explainers

bartleby

Videos

Textbook Question
Book Icon
Chapter 12, Problem 2P

The manager of the I-85 Carpet Outlet needs to be able to forecast accurately the demand for Soft Shag carpet (its biggest seller). If the manager does not order enough carpet from the carpet mill, customers will buy their carpets from one of the outlet’s many competitors. The manager has collected the following demand data for the past eight months.

Chapter 12, Problem 2P, The manager of the I-85 Carpet Outlet needs to be able to forecast accurately the demand for Soft

  1. a. Compute a three-month moving average forecast for months 4 through 9.
  2. b. Compute a weighted three-month moving average forecast for months 4 through 9. Assign weights of .55, .33, and .12 to the months in sequence, starting with the most recent month.
  3. c. Compare the two forecasts using MAD. Which forecast appears to be more accurate?
Blurred answer
Students have asked these similar questions
The manager of the Carpet City outlet needs to make an accurate forecast of the demand for Soft Shag carpet (its biggest seller). If the manager does not order enough carpet from the carpet mill, customers will buy their carpet from one of Carpet City’s many competitors. The manager has collected the following demand data for the past 8 months: Demand for Soft Shag Month Carpet (1,000 yd.) 1 8 2 12 3 7 4 9 5 15 6 11 7 10 8 12 a. Compute a 3-month moving average forecast for months 4 through 9. b. Compute a weighted 3-month moving average forecast for months 4 through 9. Assign weights of .55, .33, and .12 to the months in sequence, starting with the most recent month. c. Compare the two forecasts by using MAD. Which forecast appears to be more accurate?
The manager of the Carpet City outlet needs to make an accurate forecast of the demand for Soft Shag carpet (its biggest seller). If the manager does not order enough carpet from the carpet mill, customers will buy their carpet from one of Carpet City's many competitors. The manager has collected the following demand data for the past 8 months: Demand for Soft Shag Month                Carpet (1,000 yd.)       1                                 8       2                                 12       3                                 7       4                                 9       5                                 15       6                                 11       7                                 10       8                                 12 Compute the exponentially smoothed forecast (a = .20) for the given data. Compute an adjusted exponentially smoothed forecast (with a = .20 and β = .20) for the given data
Harlen Industries Limited has a simple forecasting model whose forecast demand has been plotted against actual demand for an 8 months duration. The firm uses an average weekly demand which is shown below: WEEK FORECAST DEMAND ACTUAL DEMAND   1 140 135   2 150 160   3 165 155   4 170 175   5 155 180   6 160 150   7 170 145   8 135 140     Compute the Mean Absolute Deviation (MAD) of the Harlen industries limited?                                                                                                        Calculate the Mean Square Error (MSE) for Harlen industries Limited?                                                                                                      Calculate the Cumulative Forecast Error (CFE) of Harlen industries limited?

Chapter 12 Solutions

Operations and Supply Chain Management 9th edition

Ch. 12 - In the chapter examples for time series methods,...Ch. 12 - What effect on the exponential smoothing model...Ch. 12 - How does adjusted exponential smoothing differ...Ch. 12 - What determines the choice of the smoothing...Ch. 12 - How does the linear trend line forecasting model...Ch. 12 - Of the time series models presented in this...Ch. 12 - What advantages does adjusted exponential...Ch. 12 - Describe how a forecast is monitored to detect...Ch. 12 - Explain the relationship between the use of a...Ch. 12 - Selecting from MAD, MAPD, MSE, E, and E, which...Ch. 12 - What is the difference between linear and multiple...Ch. 12 - Define the different components (y, x, a, and b)...Ch. 12 - A company that produces video equipment, including...Ch. 12 - The Hartley-Davis motorcycle dealer in the...Ch. 12 - The manager of the I-85 Carpet Outlet needs to be...Ch. 12 - The LawnPlus Fertilizer Company distributes...Ch. 12 - Graph the demand data in Problem 12.3. Can you...Ch. 12 - The chairperson of the department of management at...Ch. 12 - The manager of the Excom Service Station wants to...Ch. 12 - The Intrepid mutual fund of growth stocks has had...Ch. 12 - The Oceanside Hotel is adjacent to City Coliseum,...Ch. 12 - Mary Hernandez has invested in a stock mutual fund...Ch. 12 - Globetron manufactures components for use in small...Ch. 12 - The Bee Line Caf is well known for its popular...Ch. 12 - For the demand data in Problem 12.11, develop a...Ch. 12 - Develop a seasonally adjusted forecast for the...Ch. 12 - Backstreets Pizza delivery service has randomly...Ch. 12 - The Willow River Mining Company mines and ships...Ch. 12 - The Great Northwest Outdoor Company is a catalog...Ch. 12 - Townside Food Vending operates vending machines in...Ch. 12 - The town aquatic center has an indoor pool that...Ch. 12 - Develop an adjusted exponential smoothing forecast...Ch. 12 - During the past five months the emergency room at...Ch. 12 - At its craft store and through its website, the...Ch. 12 - A group of business students at Tech organized a...Ch. 12 - Temco Industries has developed a forecasting model...Ch. 12 - Monitor the forecast in Problem 12.23 for bias...Ch. 12 - Develop a statistical control chart for the...Ch. 12 - Monitor the adjusted exponential smoothing...Ch. 12 - Develop an exponential smoothing forecast with =...

Additional Business Textbook Solutions

Find more solutions based on key concepts
Knowledge Booster
Background pattern image
Operations Management
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
SEE MORE QUESTIONS
Recommended textbooks for you
  • Text book image
    Practical Management Science
    Operations Management
    ISBN:9781337406659
    Author:WINSTON, Wayne L.
    Publisher:Cengage,
    Text book image
    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
    Text book image
    Contemporary Marketing
    Marketing
    ISBN:9780357033777
    Author:Louis E. Boone, David L. Kurtz
    Publisher:Cengage Learning
  • Text book image
    Marketing
    Marketing
    ISBN:9780357033791
    Author:Pride, William M
    Publisher:South Western Educational Publishing
Text book image
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Text book image
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
Text book image
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Single Exponential Smoothing & Weighted Moving Average Time Series Forecasting; Author: Matt Macarty;https://www.youtube.com/watch?v=IjETktmL4Kg;License: Standard YouTube License, CC-BY
Introduction to Forecasting - with Examples; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=98K7AG32qv8;License: Standard Youtube License