Operations Management: Sustainability and Supply Chain Management (12th Edition)
12th Edition
ISBN: 9780134130422
Author: Jay Heizer, Barry Render, Chuck Munson
Publisher: PEARSON
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Textbook Question
Chapter 4, Problem 46P
Question
• 4.32 The following data relate the sales figures of the bar in Mark Kaltenbach’s small bed-and-breakfast inn in Portand, to the number of guests registered that week:
| WEEK | GUESTS | BAR SALES |
| 1 | 16 | $330 |
| 2 | 12 | 270 |
| 3 | 18 | 380 |
| 4 | 14 | 300 |
- a. Perform a linear regression that relates bar sales to guests (not to time).
- b. If the
forecast is for 20 guests next week, what are the sales expected to be?
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313
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312
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Question 4.1
A-C
QUESTION 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 expenses
Chapter 4 Solutions
Operations Management: Sustainability and Supply Chain Management (12th Edition)
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Introduction to Forecasting; Author: Ekeeda;https://www.youtube.com/watch?v=5eIbVXrJL7k;License: Standard YouTube License, CC-BY