Operations Management (Comp. Instructor's Edition)
13th Edition
ISBN: 9781259948237
Author: Stevenson
Publisher: MCG
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Textbook Question
Chapter 3, Problem 3P
A dry cleaner uses exponential smoothing to
a. Prepare a forecast for September.
b. Assuming actual September usage of 92 percent, prepare a forecast for October usage.
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A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 90 percent of capacity; actual usage was 87.6 percent of capacity.
A smoothing constant of .1 is used.
a. Prepare a forecast for September.
b. Assuming actual September usage of 92 percent, prepare a forecast for October usage.
Forecasts are generally wrong.a. Why are forecasts generally wrong?
Which of the following is not a step in the forecasting process?
O a. select a forecasting model
O b. eliminate all assumptions
O c. determine the purpose and level of detail required
O d. establish a time horizon
O e.
monitor the forecast
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Chapter 3 Solutions
Operations Management (Comp. Instructor's Edition)
Ch. 3.15 - Prob. 1.1RQCh. 3.15 - Prob. 1.2RQCh. 3.15 - Prob. 1.3RQCh. 3 - What are the main advantage that quantitative...Ch. 3 - What are some of the consequences of poor...Ch. 3 - List the specific weaknesses of each of these...Ch. 3 - Forecasts are generally wrong a. Why are forecasts...Ch. 3 - What is the purpose of establishing control limits...Ch. 3 - What factors would you consider in deciding...Ch. 3 - Contrast the use of MAD and MSE in evaluating...
Ch. 3 - What advantages as a forecasting tool does...Ch. 3 - How does the number of periods in a moving average...Ch. 3 - What factors enter into the choice of a value for...Ch. 3 - Prob. 11DRQCh. 3 - Explain how using a centered moving average with a...Ch. 3 - Contrast the terms sales and demand.Ch. 3 - Contrast the reactive and proactive approaches to...Ch. 3 - Explain how flexibility in production systems...Ch. 3 - How is forecasting in the context of a supply...Ch. 3 - Which type of forecasting approach, qualitative or...Ch. 3 - Prob. 18DRQCh. 3 - Choose the type of forecasting technique (survey,...Ch. 3 - Explain the trade-off between responsiveness and...Ch. 3 - Who needs to be involved in preparing forecasts?Ch. 3 - How has technology had an impact on forecasting?Ch. 3 - It has been said that forecasting using...Ch. 3 - What capability would an organization have to have...Ch. 3 - When a new business is started, or a patent idea...Ch. 3 - Discuss how you would manage a poor forecast.Ch. 3 - Omar has beard from some of his customers that...Ch. 3 - Give three examples of unethical conduct involving...Ch. 3 - A commercial baker, has recorded sales (in dozens)...Ch. 3 - National Scan, Inc., sells radio frequency...Ch. 3 - A dry cleaner uses exponential smoothing to...Ch. 3 - An electrical contractors records during the last...Ch. 3 - A cosmetics manufacturer s marketing department...Ch. 3 - Prob. 6PCh. 3 - Freight car loadings ova a 12-year period at a...Ch. 3 - Air travel on Mountain Airline for the past 18...Ch. 3 - a. Obtain the linear trend equation for the...Ch. 3 - After plotting demand for four periods, an...Ch. 3 - A manager of a store that sells and installs spas...Ch. 3 - The following equation summarizes the trend...Ch. 3 - Compute seasonal relatives for this data the SA...Ch. 3 - A tourist center is open on weekends (Friday,...Ch. 3 - The manager of a fashionable restaurant open...Ch. 3 - Obtain estimates of daily relatives for the number...Ch. 3 - A pharmacist has been monitoring sales of 2...Ch. 3 - New car sales for a dealer in Cook County,...Ch. 3 - The following table shows a tool and die companys...Ch. 3 - An analyst must decide between two different...Ch. 3 - Two different forecasting techniques (F1 and F2)...Ch. 3 - Two independent methods of forecasting based on...Ch. 3 - Long-Life Insurance has developed a linear model...Ch. 3 - Timely Transport provides local delivery service...Ch. 3 - The manager of a seafood restaurant was asked to...Ch. 3 - The following data were collected during a study...Ch. 3 - Lovely Lawns Inc., intends to use sales of lawn...Ch. 3 - The manager of a travel agency has been using a...Ch. 3 - Refer to the data in problem 22 a. Compute a...Ch. 3 - The classified department of a monthly magazine...Ch. 3 - A textbook publishing company has compiled data on...Ch. 3 - A manager has just receded an valuation from an...Ch. 3 - A manager uses this equation to predict demand for...Ch. 3 - A manager uses a trend equation plus quarterly...Ch. 3 - ML MANUFACTURING ML Manufacturing makes various...Ch. 3 - ML MANUFACTURING ML Manufacturing makes various...Ch. 3 - HIGHLINE FINANCIAL SERVICES, LTD. Highline...
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- 4, The accompanying dataset provides the closing prices for four stocks and the stock exchange over 12 days. Complete parts a through c. Complete the exponential smoothing forecast model for stock B. (Type integers or decimals rounded to two decimal places as needed.) Date Forecast B 09/03/2010 09/07/2010 enter your response here 09/08/2010 enter your response here 09/09/2010 enter your response here 09/10/2010 enter your response here 09/13/2010 enter your response here 09/14/2010 enter your response here 09/15/2010 enter your response here 09/16/2010 enter your response here 09/17/2010 enter your response here 09/20/2010 enter your response here 09/21/2010 enter your response here Date A B C D Stock Exchange 09/03/2010 127.07 18.54 20.84 15.44 10,536.56 09/07/2010 124.84 18.21 20.45 15.55 10,245.77 09/08/2010 125.67 17.77 20.83 15.72…arrow_forwardIt is part of Qualitative methods of forecasting that are useful in situations where past data do not exist, causal relationships have not been identified, or some major change has occurred in the forecasting context which is not accounted for by other techniques for instance the Corona Virus pandemic, Sales of Huawei products are banned in the US, Gulf War, trade agreement, etc.). (2 points) O a. Delphi method O b. Market survey O c. Sales force composite o d. Executive opinionarrow_forward8. Averaging techniques are useful for: A. distinguishing between random and non-random variations B. smoothing out fluctuations in time series C. eliminating historical data D. providing accuracy in forecasts E. average peoplearrow_forward
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