Practical Operations Management
Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
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Chapter 4, Problem 25P

A

Summary Introduction

Interpretation: Suggest according to naïve forecasting on the expected number of student appointments in this week.

Concept Introduction:Most of the forecasting methods are based on the past performances of another organization in the similar industry. The process involved in the predicting of future occurrences is call forecasting.

B

Summary Introduction

Interpretation: Calculate the expected student appointment for this week using the 3 week moving average and also the 2 week moving average.

Concept Introduction: Most of the forecasting methods are based on the past performances of another organization in the similar industry. The process involved in the predicting of future occurrences is call forecasting.

C

Summary Introduction

Interpretation: Determine the forecast for this week based on exponential smoothing method, supposing an alpha of 0.2, and a forecast 2 weeks ago was 90.

Concept Introduction: Most of the forecasting methods are based on the past performances of another organization in the similar industry. The process involved in the predicting of future occurrences is call forecasting.

D

Summary Introduction

Interpretation:Suggest the week’s forecast of student appointments based on the linear regression formula created using 4 weeks of data.

Concept Introduction:From the point where the correlation has limitations, the regression method is developed for measuring casual relationships.

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