Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
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Chapter 2, Problem 57AP
(a)
Summary Introduction
To determine: Comparison of accuracy of
Introduction: Holt’s method involves inaccuracy of forecasted value represented by error parameters MAD and MSE. Trigg-Leach method makes use of smoothed error tracking signal.
(b)
Summary Introduction
To explain: The relationships among Trigg-Leach method, Time series and the circumstances where these methodsare suitable and where not.
Introduction: Trigg-Leach method introduced tracking signal which can determine the accurate difference between absolute error and observed error. This results in unbiased forecasts.
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Obtain the linear trend equation for the following data on new checking accounts at Fair Savings Bank and use it to predict expected new checking accounts for periods 16 through 19.Period New Accounts Period New Accounts Period New Accounts1 200 6 232 11 2812 214 7 248 12 2753 211 8 250 13 2804 228 9 253 14 2885 235 10 267 15 310b. Use trend-adjusted smoothing with α = .3 and β = .2 to smooth the new account data in part a.What is the forecast for period 16?
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Chapter 2 Solutions
Production and Operations Analysis, Seventh Edition
Ch. 2.4 - Prob. 1PCh. 2.4 - Prob. 2PCh. 2.4 - Prob. 3PCh. 2.4 - Prob. 4PCh. 2.4 - Prob. 5PCh. 2.4 - Prob. 6PCh. 2.4 - Prob. 7PCh. 2.4 - Prob. 8PCh. 2.4 - Prob. 9PCh. 2.6 - Prob. 10P
Ch. 2.6 - Prob. 11PCh. 2.6 - Prob. 12PCh. 2.6 - Prob. 13PCh. 2.6 - Prob. 14PCh. 2.6 - Prob. 15PCh. 2.7 - Prob. 16PCh. 2.7 - Prob. 17PCh. 2.7 - Prob. 18PCh. 2.7 - Prob. 19PCh. 2.7 - Prob. 20PCh. 2.7 - Prob. 21PCh. 2.7 - Prob. 22PCh. 2.7 - Prob. 23PCh. 2.7 - Prob. 24PCh. 2.7 - Prob. 25PCh. 2.7 - Prob. 26PCh. 2.7 - Prob. 27PCh. 2.8 - Prob. 28PCh. 2.8 - Prob. 29PCh. 2.8 - Prob. 30PCh. 2.8 - Prob. 31PCh. 2.8 - Prob. 32PCh. 2.9 - Prob. 33PCh. 2.9 - Prob. 34PCh. 2.9 - Prob. 35PCh. 2.9 - Prob. 36PCh. 2.9 - Prob. 37PCh. 2.10 - Prob. 38PCh. 2.10 - Prob. 42PCh. 2.10 - Prob. 43PCh. 2.10 - Prob. 44PCh. 2.10 - Prob. 45PCh. 2 - Prob. 47APCh. 2 - Prob. 48APCh. 2 - Prob. 49APCh. 2 - Prob. 50APCh. 2 - Prob. 51APCh. 2 - Prob. 52APCh. 2 - Prob. 53APCh. 2 - Prob. 54APCh. 2 - Prob. 55APCh. 2 - Prob. 56APCh. 2 - Prob. 57APCh. 2 - Prob. 58AP
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