Operations Management
11th Edition
ISBN: 9780132921145
Author: Jay Heizer
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 4, Problem 21P
Question
• 4.21 Refer to the trend-adjusted exponential smoothing illustration in Example 7 on pages 117–119 Using α =. 2 and β =. 4, we
In this problem, show your calculations for months 5 and 6 for Ft, Tt, and FITt.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
If the forecasted value of the time series variable for one period is 28.5 and the actual value observed for the same period is 32, what is the forecast error for that period?
Question 19 options:
3.5
2
-3.5
4
Question 1
ABC Restaurant has made a forecast for last week's operations vs Actual
result of the forecast last week.
Period
Monday
Tuesday
Actual
112
110
113
120
140
Forecast
115
104
Wednesday
110
Thursday
115
Friday
135
Using this table above, solve for Mean Absolute Deviation (MAD)
Note: Round up to the last 2 decimals example 9.6568->9.66
QUESTION 2:The manager of YTL Computers wants to develop next year’s quarterly forecasts of salesrevenue for its brand laptops. The sales are seasonal and the company believes that thefollowing most recent eight quarters of sales should be representative of next year’ssales:
Year
Quarter
Sales (millions of dollars)
1
1
9.2
1
2
5.4
1
3
4.3
1
4
14.1
2
1
10.3
2
2
6.4
2
3
5.4
2
4
16.0
Determine the forecast of next year’s quarterly sales revenue for this line of laptops.Show all your workings.
Chapter 4 Solutions
Operations Management
Ch. 4 - What is a qualitative foretasting model, and when...Ch. 4 - Identify and briefly describe the two general...Ch. 4 - Identify the three forecasting time horizons....Ch. 4 - Briefly describe the steps that are used to...Ch. 4 - A skeptical manager asks what medium-range...Ch. 4 - Explain why such forecasting devices as moving...Ch. 4 - What is the basic difference between a weighted...Ch. 4 - What three methods are used to determine the...Ch. 4 - Research and briefly describe the Delphi...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 - Which forecasting technique can place the most...Ch. 4 - In your own words, explain adaptive forecasting.Ch. 4 - What is the purpose of a tracking signal?Ch. 4 - Explain, in your own words, the meaning of the...Ch. 4 - What is the difference between a dependent and an...Ch. 4 - Give examples of industries that are affected by...Ch. 4 - Give examples of industries in which demand...Ch. 4 - Prob. 21DQCh. 4 - The following gives the number of pints of type B...Ch. 4 - 4.2 a. Plot the above data on a graph. Do you...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 - The actual demand for the patients at Omaha...Ch. 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 - Consider the following actual and forecast demand...Ch. 4 - As you can see in the following table, demand for...Ch. 4 - Following are two weekly forecasts made by two...Ch. 4 - Refer to Solved Problem 4.1 on page 138. a. Use a...Ch. 4 - Solved example 4.1 Sales of Volkswagens popular...Ch. 4 - Refer to Solved Problem 4.1. Using smoothing...Ch. 4 - Consider the following actual (At) and forecast...Ch. 4 - Income at the architectural firm Spraggins and...Ch. 4 - Question 4.20 Resolve Problem 4.19 with =.1 and ...Ch. 4 - Question 4.21 Refer to the trend-adjusted...Ch. 4 - Question 4.22 Refer to Problem 4.21. Complete the...Ch. 4 - Question 4.23 Sales of quilt covers at Bud Baniss...Ch. 4 - Question 4.24 Mark Gershon, owner of a musical...Ch. 4 - Question 4.25 The following gives the number of...Ch. 4 - Prob. 26PCh. 4 - Question 4.27 George Kyparisis owns a company...Ch. 4 - Question 4.28 Attendance at Orlandos newest...Ch. 4 - Question 4.29 North Dakota Electric Company...Ch. 4 - Lori Cook has developed the following forecasting...Ch. 4 - Prob. 31PCh. 4 - Question 4.32 The following data relate the sales...Ch. 4 - Question 4.33 The number of internal disk drives...Ch. 4 - Question 4.34 The number of auto accidents in...Ch. 4 - Question 4.35 Rhonda Clark, a Slippery Rock,...Ch. 4 - Accountants at the Tucson firm, Larry Youdelman,...Ch. 4 - Sales of tablet computers at Ted Glickmans...Ch. 4 - Question 4.38 City government has collected the...Ch. 4 - Dr. Lillian Fok, a New Orleans psychologist,...Ch. 4 - Using the data in Problem 4.39, apply linear...Ch. 4 - Bus and subway ridership for the summer months in...Ch. 4 - CEO John Goodale, at Southern Illinois Power and...Ch. 4 - Emergency calls to the 911 system of Durham, North...Ch. 4 - Using the 911 call data in Problem 4.43, forecast...Ch. 4 - The following are monthly actual and forecast...Ch. 4 - Thirteen students entered the business program at...Ch. 4 - Question 4.47 Storrs Cycles has just started...Ch. 4 - Question 4.48 Dave Fletcher, the general manager...Ch. 4 - Question 4.49 Boulanger Savings and Loan is proud...Ch. 4 - Case study Southwestern University: (B) This...Ch. 4 - Case study Southwestern University: (B) This...Ch. 4 - Southwestern University: (B) This integrated case...Ch. 4 - For its first 2 decades of existence, the NBAs...Ch. 4 - For its first 2 decades of existence, the NBAs...Ch. 4 - For its first 2 decades of existence, the NBAs...Ch. 4 - For its first 2 decades of existence, the NBAs...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...Ch. 4 - Forecasting at Hard Rock Cafe Video Case With the...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Question 1 ) The monthiy sales Of yamizí Battery company are asfollows:- Month Jales 2000 2100 1500 1400 1300 Calcuiate fore cost sales for June using each of the fo llowing method: - i) Naive Method 1M 3 Month Simple moving averoger Ti) Exponentral smoothing using an a =0:3 cand may forecast of 1600 units.arrow_forwardQuestion DEMAND FOR FERTILIZER YEAR (1,000S OF BAGS) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15 Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table: Develop a trend line for the demand for fertilizer using any computer software. For these three forecasts, 3-year moving average, a weighted moving average, and a trend line, which one would you use? Explain your answer. Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given. Assume that last period’s forecast for year 1 is 5,000 bags to begin the procedure. Would you prefer to use the exponential smoothing model or the weighted average model developed? Explain your answer.arrow_forwardQUESTION 9 Use the table below to answer the following questions (Choose only the letter) 3. Periods Observations 24 4 6 34 36 37 41 44 45 Q1: By using naive seasonal model and trend estimate, forecast period 8 A) 41 B) 39.25 C) 37.3 D) 44 Answer Q2: Caleuiation of the forecast error for period 7 according to the simple average method A) 9 B) 1 C) 36 D) 44 Answer Q3: Use the exponential smoothing technique with smoothing constants of 0.3 to forecast for periods 3 (The initial value - The First value) A) 36 B) 24 C) 27 D) 44 Answerarrow_forward
- Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniquesarrow_forwardQUESTION 8 You are given the following information, comprising of an individual's expenses for the year 2015. Use the information provided hereunder to answer the following questions. Month January February March April May June July August September October November December Expenses 1977 820 970 1082 1220 1281 1546 1788 895 1108 1824 1954 a) Determine the expenses forecast using a two (2) period moving average. Calculate the MAD and MSE. b) Determine the expenses forecast using a two (2) period weighted moving average. Use 0.8 & 0.2 for the weights of the most recent and second most recent periods respectfully. Calculate the MAD and MSE. c) Develop an exponential smoothing forecast using a=0.2. Assume the forecast for the first month is the actual expenses for that month. Calculate the MAD and MSE. d) Developed a trend line to forecast expensesarrow_forwardQ4 ABC University wants to develop forecasts for next year's quarterly enrollment. It has collected quarterly enrollments for the past two years. It has also forecast total annual enrollment for next year to be 95,000 students. What is the forecast for each quarter of next year? Enrollment (in 000') Quarter Year 1 Year 2 Fall 24 25 Winter 23 22 Spring 18 19 Summer 15 17arrow_forward
- QUESTIONS: Quarterly demand for a washing machine is as shown. 1. After obtaining initial estimates for level, trend, and seasonal factors. forecast the demand for the first quarter of year III using Winter's model with a 6- - 0,25 where x is the last two digits of your student number. 2. Make a tracking signal analysis for the forecast and evaluate Maks Year I II Quarter 1 2 3 4 1 2 3 4 Demand 1900 1224 4000 5600 4800 1048 6200 8000arrow_forwardQuestion A reputable FMCG company is holding its Annual Sales Conference on January 30th 2021 for its New Year sales plan. The company is interested in launching new product beside its existing product lines. The new product will be novel in the history of the company. explain what FMCG company seeks for and following for above mentioned firm, with reason/limitations specified for the FMCG company. Discuss the techniques of forecasting that will be used by the company for its existing and new products. Explain specific type and reason for using those techniques. Also identify the limitations of these techniques. Use word/Excelarrow_forwardOQ5arrow_forward
- Q.No.04. What does BOM stands for? Why it is necessary for any firm to have correct forecast of BOM?arrow_forwardQ 6 Identify two business situations where the Delphi method might be used to generate forecasts. Can you think of any difficulties and pitfalls associated with using the Delphi method?arrow_forwardPart C Exponential Exponential Gasoline Demand Gasoline Month smoothed forecast smoothed forecast Exponential smoothed forecast (a = 0.25) Demand (a = 0.25) (a = 0.45) Exponential smoothed forecast (a = 0.45) Mar 900 920 920 1200 Apr May 755 915.00 911.00 1100 1000 650 875.00 840.80 g20 915.00 846 80 755 818.75 754.94 904.76 835.12 Jun 550 818.75 754.94 800 320 751.56 66272 645.74 746.83 Jul 625 751.56 662.72 650 600 550 Aug Sep 730 719.92 645.74 820 722.44 683.66 400 D Oct 1100 746.83 745.01 200 1 Nov 835.12 904.76 Mar Apr May Jun Jul Aug Sep Oct Nov 1. Make a comparative analysis out of your answers in the plotted data. (3-5 5 sentences)arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Introduction to Forecasting; Author: Ekeeda;https://www.youtube.com/watch?v=5eIbVXrJL7k;License: Standard YouTube License, CC-BY