Practical Management Science
5th Edition
ISBN: 9781305734845
Author: WINSTON
Publisher: Cengage
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Chapter 14.7, Problem 23P
Summary Introduction
To determine: The forecast for April and May.
Introduction:
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Construct a time series plot. What type of pattern exists?
Develop a forecast for the next month using the averaging method.
Develop a forecast for the next month using the naïve last-value method.
Demand for oil changes at Garcia's Garage has been as follows:
Number of Oil Changes
January
44
February
49
March
66
IT
April
59
May
53
June
58
59
63
Month
July
August
a. Use simple linear regression analysis to develop a forecasting model for monthly demand. In this application, the dependent variable, Y, is monthly demand and the independent variable, X, is the month. For Janu
The forecasting model is given by the equation Y=+x. (Enter your responses rounded to two decimal places)
J
Show Transcribed Text
>. Use the model to forecast demand for September, October, and November. Here, X=9, 10, and 11, respectively. (Enter your responses rounded to two decimal places.)
Forecast for the number of
Oil Changes
Show Transcribed Text
Month
September
October
November
can you do all the parts please corrrect
A production company was able to hit the following sales order for the past 3 months: 45% of 420pcs September Forecast, 30% of 350pcs October forecast and 25% of 280pcs November forecast. Determine the most appropriate forecasting model to be used, and compute for the estimated quantity in pcs needed to be produced by the month of December. Show your solution in a detailed tabular form.
Chapter 14 Solutions
Practical Management Science
Ch. 14.3 - Prob. 1PCh. 14.3 - Prob. 2PCh. 14.3 - Prob. 3PCh. 14.3 - Prob. 4PCh. 14.3 - Prob. 5PCh. 14.3 - Prob. 6PCh. 14.3 - Prob. 7PCh. 14.3 - Prob. 8PCh. 14.3 - Prob. 9PCh. 14.3 - Prob. 10P
Ch. 14.4 - Prob. 12PCh. 14.4 - Prob. 13PCh. 14.4 - Prob. 14PCh. 14.4 - Prob. 15PCh. 14.4 - Prob. 16PCh. 14.4 - Prob. 17PCh. 14.6 - Prob. 19PCh. 14.6 - Prob. 20PCh. 14.6 - The file P14_21.xlsx contains the weekly sales of...Ch. 14.6 - Prob. 22PCh. 14.7 - Prob. 23PCh. 14.7 - Prob. 24PCh. 14.7 - Prob. 25PCh. 14.7 - Prob. 26PCh. 14.7 - Prob. 27PCh. 14.7 - Prob. 28PCh. 14.7 - Prob. 29PCh. 14.7 - Prob. 30PCh. 14 - Prob. 31PCh. 14 - Prob. 32PCh. 14 - Prob. 33PCh. 14 - Prob. 34PCh. 14 - Prob. 35PCh. 14 - Prob. 36PCh. 14 - Prob. 37PCh. 14 - Prob. 39PCh. 14 - Prob. 40PCh. 14 - Prob. 41PCh. 14 - Prob. 42PCh. 14 - Prob. 43PCh. 14 - Prob. 44PCh. 14 - Prob. 45PCh. 14 - Prob. 46PCh. 14 - Prob. 49P
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