Pearson eText Principles of Operations Management: Sustainability and Supply Chain Management -- Instant Access (Pearson+)
Pearson eText Principles of Operations Management: Sustainability and Supply Chain Management -- Instant Access (Pearson+)
11th Edition
ISBN: 9780135639221
Author: Jay Heizer, Barry Render
Publisher: PEARSON+
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Chapter 4, Problem 18P
Summary Introduction

To determine: Compute smoothing constant and hence find the forecast of time period 5.

Introduction: A sequence of data points in successive order is known as time series. Time series forecasting is the prediction based on past events which are at uniform time interval. Moving average method and trend projections are two of the time series methods which use weights to prioritize past data.

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All forecasting methods using exponential smoothing, adaptive smoothing, and exponential smoothing including trend require starting values to get the equations going. How would you select the starting value for, say, Ft−1?
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Using the data set below, what would be the forecast for period 5 using the exponential smoothing method? Assume the forecast for period 4 is 14000. Use a smoothing constant of a = 0.4 (Choose the closest answer.) Please submit your worksheet showing the calculation method Period Actual Demand 1 10000 2 12400 3 13250 4 14750 5 15220 6 18500 The choices are A. 12660 B. 13190 C. 14030 D. 15220

Chapter 4 Solutions

Pearson eText Principles of Operations Management: Sustainability and Supply Chain Management -- Instant Access (Pearson+)

Ch. 4 - What is the primary difference between a...Ch. 4 - Define time series.Ch. 4 - What effect does the value of the smoothing...Ch. 4 - Explain the value of seasonal indices in...Ch. 4 - Prob. 14DQCh. 4 - In your own words, explain adaptive forecasting.Ch. 4 - Prob. 16DQCh. 4 - Explain, in your own words, the meaning of the...Ch. 4 - Prob. 18DQCh. 4 - Give examples of industries that are affected by...Ch. 4 - Prob. 20DQCh. 4 - Prob. 21DQCh. 4 - CEO John Goodale, at Southern Illinois Power and...Ch. 4 - The following gives the number of pints of type B...Ch. 4 - a) Plot the above data on a graph. Do you observe...Ch. 4 - Refer to Problem 4.2. Develop a forecast for years...Ch. 4 - A check-processing center uses exponential...Ch. 4 - The Carbondale Hospital is considering the...Ch. 4 - The monthly sales for Yazici Batteries, Inc., were...Ch. 4 - Prob. 7PCh. 4 - Daily high temperatures in St. Louis for the last...Ch. 4 - Lenovo uses the ZX-81 chip in some of its laptop...Ch. 4 - Data collected on the yearly registrations for a...Ch. 4 - Use exponential smoothing with a smoothing...Ch. 4 - Prob. 12PCh. 4 - At you can see in the following table, demand for...Ch. 4 - Prob. 14PCh. 4 - Refer to Solved Problem 4.1 on page 144. a) Use a...Ch. 4 - Prob. 16PCh. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Income at the architectural firm Spraggins and...Ch. 4 - Resolve Problem 4.19 with = .1 and =.8. Using...Ch. 4 - Prob. 21PCh. 4 - Refer to Problem 4.21. Complete the trend-adjusted...Ch. 4 - Prob. 23PCh. 4 - The following gives the number of accidents that...Ch. 4 - In the past, Peter Kelles tire dealership in Baton...Ch. 4 - George Kyparisis owns a company that manufactures...Ch. 4 - Attendance at Orlandos newest Disneylike...Ch. 4 - Prob. 28PCh. 4 - The number of disk drives (in millions) made at a...Ch. 4 - Prob. 30PCh. 4 - Emergency calls to the 911 system of Durham, North...Ch. 4 - Using the 911 call data in Problem 4.31, forecast...Ch. 4 - Storrs Cycles has just started selling the new...Ch. 4 - Prob. 35PCh. 4 - Prob. 36PCh. 4 - Prob. 37PCh. 4 - Prob. 38PCh. 4 - Prob. 39PCh. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Mark Gershon, owner of a musical instrument...Ch. 4 - Prob. 44PCh. 4 - Cafe Michigans manager, Gary Stark, suspects that...Ch. 4 - Prob. 46PCh. 4 - The number of auto accidents in Athens, Ohio, is...Ch. 4 - Rhonda Clark, a Slippery Rock, Pennsylvania, real...Ch. 4 - Accountants at the Tucson firm, Larry Youdelman,...Ch. 4 - Prob. 50PCh. 4 - Using the data in Problem 4.30, apply linear...Ch. 4 - Bus and subway ridership for the summer months in...Ch. 4 - Prob. 53PCh. 4 - Dave Fletcher, the general manager of North...Ch. 4 - Prob. 55PCh. 4 - Prob. 56PCh. 4 - Prob. 57PCh. 4 - Sales of tablet computers at Ted Glickmans...Ch. 4 - The following are monthly actual and forecast...Ch. 4 - Prob. 1CSCh. 4 - Prob. 2CSCh. 4 - Prob. 3CSCh. 4 - Prob. 1.1VCCh. 4 - Prob. 1.2VCCh. 4 - Using Perezs multiple-regression model, what would...Ch. 4 - Prob. 1.4VCCh. 4 - Prob. 2.1VCCh. 4 - Prob. 2.2VCCh. 4 - Prob. 2.3VCCh. 4 - Prob. 2.4VCCh. 4 - Prob. 2.5VC
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