STEVENSON OPERATIONS MANAGEMENT W/CONNEC
14th Edition
ISBN: 9781264578306
Author: Stevenson
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Chapter 16, Problem 2TS
Summary Introduction
To determine: The person who is responsible for setting schedules.
Introduction:
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In the following problems assume, unless otherwise stated, that S = $40, σ = 30%, r =8%,and δ =0.
13.1 Suppose you sell a 45-strike call with 91 days to expiration. What is delta? If the option is on 100 shares, what investment is required for a delta-hedged portfolio? What is your overnight profit if the stock tomorrow is $39? What if the stock price is $40.50?
Question 1
M&H company ltd. sells television sets and has collected monthly sales data (in units) for the past 12
months as shown in table 1below:
TABLE 1
Month
Sales (Units)
1
120
2
135
3
150
4
165
5
180
6
200
7
195
8
210
9
225
10
240
11
255
12
270
Using the data provided, answer the following questions:
a. Using a 3-month weighted moving average with weights 0.5, 0.3, and 0.2 (most recent month
having the highest weight), calculate the forecast for month 13.
[2 marks]
b. If the company applies an exponential smoothing method with a smoothing constant (a) = 02,
and assumes an initial forecast of 120 units for Month 1, calculate the forecast for month 13.
[6 marks]
c. Calculate the Mean Absolute Deviation (MAD) for the exponential smoothing method and
weighted moving average method using the actual sales data for Months 4 to 12 and determine
which method is more accurate.
[8 marks] d.
Compute the values of a (intercept) and b (slope) using the least squares method. [7 marks]
e. Use the…
Question 4
MGM12026 Production and Operations Management semester il 2024
A company operates a manufacturing plant that produces two products, A and B. The plant has the
following capacity data:
.
.
Design Capacity: 15,000 machine hours per month
Effective Capacity: 12,000 machine hours per month
Actual Output (Utilized Capacity): 10,000 machine hours per month
Additionally, the plant produces Product A and Product B, with the following production data:
Product Demand (Units)
Processing Time Contribution Margin ($
(hours per unit)
per unit)
A
3,000
2.5
40
B
4,000
1.5
30
a. Calculate the plant's
i. Capacity Utilization
[3 marks] ii. Effective Capacity Utilization
[3 marks] iii.
Efficiency. Interpret the results. [3 marks] b. Compute the total machine hours required to
meet full demand for both products. [5 marks]
c. Determine whether the plant has sufficient capacity to meet full demand. If not, calculate the
shortfall in machine hours.
[3 marks]
d. Using the contribution margin per…
Chapter 16 Solutions
STEVENSON OPERATIONS MANAGEMENT W/CONNEC
Ch. 16 - Why is scheduling fairly simple for repetitive...Ch. 16 - Prob. 2DRQCh. 16 - What are Gantt charts? How are they used in...Ch. 16 - Prob. 4DRQCh. 16 - Briefly describe each of these priority rules: a....Ch. 16 - Why are priority rules needed?Ch. 16 - What problems not generally found in manufacturing...Ch. 16 - Explain forward and backward schedulings and each...Ch. 16 - Prob. 9DRQCh. 16 - Prob. 10DRQ
Ch. 16 - Prob. 11DRQCh. 16 - What general trade-offs are involved in sequencing...Ch. 16 - Prob. 2TSCh. 16 - Prob. 3TSCh. 16 - One approach that can be effective in reducing the...Ch. 16 - Doctors and dentists offices frequently schedule...Ch. 16 - Prob. 3CTECh. 16 - Use the assignment method to determine the best...Ch. 16 - Rework Problem 1, treating the numbers in the...Ch. 16 - Assign trucks to delivery routes so that total...Ch. 16 - Develop an assignment plan that will minimize...Ch. 16 - Use the assignment method to obtain a plan that...Ch. 16 - The following table contains information...Ch. 16 - Using the information presented in the following...Ch. 16 - The following table shows orders to be processed...Ch. 16 - A wholesale grocery distribution center uses a...Ch. 16 - The times required to complete each of eight jobs...Ch. 16 - Prob. 11PCh. 16 - A shoe repair operation uses a two-step sequence...Ch. 16 - The following schedule was prepared by the...Ch. 16 - The production manager must determine the...Ch. 16 - A foreman has determined processing times at a...Ch. 16 - Given the information in the following table,...Ch. 16 - Given the following information on job times and...Ch. 16 - Prob. 18PCh. 16 - The following table contains order-dependent setup...Ch. 16 - The following table contains order-dependent setup...Ch. 16 - Prob. 21PCh. 16 - Given this information on planned and actual...Ch. 16 - Given the following data on inputs and outputs at...Ch. 16 - Determine the minimum number of workers needed,...Ch. 16 - Determine the minimum number of workers needed,...Ch. 16 - Determine the minimum number of workers needed,...Ch. 16 - Prob. 1CQ
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- Gas sales across type: 80% of gas sales tend to be regular. 15% midgrade, 5% tend to be premium. $0.10 increase in price per gallon tends to decrease gallons sold by 1 to 3%. Jan-0.87, Feb-0.95, Mar-1.00, Apr-1.05, May-1.08, Jun1.15, Jul-1.13, Aug-1.07, Sep-1.02, Oct-0.94, Nov-0.89, Dec-0.85. You want the MAPE to be below 20%, if ypu can get it to or below 10% they'll throw in extra $10k. Wont get bonus if it is above 11% or 20%. It cannot be over 20%.arrow_forwardhelp me choose the correct path please. There are other optionsarrow_forwardNegotiators can gain several benefits from using the strategy of multiple equivalent simultaneous offers. By offering multiple options it reduces the chance of rejection. It also improves the chances of reaching reaching an agreement. By presenting multiple offers, it shows you are flexible. agree with the postarrow_forward
- Negotiators can gain several benefits from using the strategy of multiple equivalent simultaneous offers. By offering multiple options it reduces the chance of rejection. It also improves the chances of reaching reaching an agreement. By presenting multiple offers, it shows you are flexible. disagree with this post or add on to the postarrow_forwardThe strategy of Multiple Equivalent Simultaneous Offers involves presenting several equally valuable options to the other party during negotiations. This approach benefits negotiators by creating flexibility and increasing the chances of finding a mutually agreeable solution. By offering multiple options, negotiators show that they are open to compromise, which can build trust and make the negotiation process smoother. It also helps avoid getting stuck on one issue, as the other party can choose from several alternatives that meet their needs. In my experience, using MESOs in a work negotiation helped both parties reach an agreement more quickly because each option was carefully thought out to address different needs, and this made it easier for us to settle on one that worked for both sides. This strategy can also reveal what is most important to the other party, helping negotiators understand their priorities better. agree or disagree with the postarrow_forwardExamine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization 2. AI-driven customer supportarrow_forward
- how can you gain trust in a negotiation setting?arrow_forward✓ Custom $€ .0 .on File Home Insert Share Page Layout Formulas Data Review View Help Draw Arial 10 B B14 ✓ X✓ fx 1400 > 甘く 曲 > 冠 > Comments Editing ✓ . . . P Q R S T 3 A Production cost ($/unit) B с D E F G H J K L M N $74.00 4 Inventory holding cost ($/unit) $1.50 5 Lost sales cost ($/unit) $82.00 6 Overtime cost ($/unit) $6.80 7 Undertime cost ($/unit) $3.20 8 Rate change cost ($/unit) $5.00 9 Normal production rate (units) 2,000 10 Ending inventory (previous Dec.) 800 11 Cumulative 12 13 Month Demand Cumulative Demand Product Production Availability Ending Inventory Lost Cumulative Cumulative Product Sales 14 January 1,400 1,475 15 FUERANZ222222223323333BRUINE 14 February 1,000 2,275 Month January February Demand Demand Production Availability Ending Inventory Lost Sales 1,400 #N/A 1,475 #N/A #N/A #N/A 1,000 #N/A 2,275 #N/A #N/A #N/A 16 March 1,800 2,275 March 1,800 #N/A 2,275 #N/A #N/A #N/A 17 April 2,700 2,275 April 2,700 #N/A 2,275 #N/A #N/A #N/A 18 May 3,000 2,275 May 3,000 #N/A…arrow_forwardFollow guidelines and summarize in a paragrapharrow_forward
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