Understanding Management (11th Edition), Standalone Book
11th Edition
ISBN: 9781337917001
Author: Richard L. Daft, Dorothy Marcic
Publisher: Cengage Education
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Chapter 6, Problem 4AYSAL
Summary Introduction
To determine:
What can be learnt from the situations that has come across in the past to make future decision in an effective manner.
Introduction:
Decision making refers to the thought process which is taken into consideration for choosing a logical option from available alternatives. An individual should weigh the negative and positive associated with each option while striving to make a good decision. An individual is required to forecast the result associated with each choice or option to have an effective decision making.
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As a human resources manager in a health care organization, you will be asked to develop varying types of strategies and management techniques that improve the performance of your workforce. It is important for you to know how to keep abreast of such strategies through research, as well as analyze how such strategies and techniques can be applied in your organization. In this assessment, you will apply these skills.
Selecting: Blue Cross Blue Shield, Division: Healthcare Claims
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1. Sales of humanoid robots by a technology company from January 2024 to December 2025
are shown in the table below:
Time
Number sold
Month
Number sold
Time
Number sold
2024.1 51
2024.6 54
2024.11 44
2024.2 35
2024.7 52
2024.12 47
2024.3 28
2024.8 48
2025.1
2024.4 32
2024.9 42
2024.5 48
2024.10 46
(a) What can the above table of time and sales be called in forecasting?
(b) Using Naive approach, develop forecasts for 2025.1.
(c) Using 3-Month Moving Average, develop forecasts for 2025.1.
(d) Using Exponential Smoothing usinga-0.1, a-0.5, -0.9, develop
forecasts for months from 2024.1 to 2025.1. Note: The initial predicted
value is taken as the average of the first three observations.
(e) Analysing the effect of the above three predictions (-0.1, 0.5, -0.9)
by drawing a picture. What is the better value of a to predict by viewing
the picture?
2. (a) Control charts are tools used to monitor the stability of processes over time.
Explain the purpose of the following control charts, with one example for
each chart.
i) Median chart
ii) Standard deviation chart
(b) Assignable variation refers to variations in a process that can be attributed to
identifiable sources.
List two specific methods for identifying assignable variation in a
production process.
(c) A bakery is investigating the weight consistency of its bread loaves. Historically, the
process has had a standard deviation of 0.05 kg. The average weights from 20 samples,
each containing n=10 loaves, are recorded below:
Sample
Mean Weight (kg) Sample
1
0.503
Mean Weight (kg)
11
0.502
2
0.499
12
0.505
3
0.501
13
0.504
4
0.500
14
0.503
5
0.504
15
0.499
6
0.502
16
0.504
I
Chapter 6 Solutions
Understanding Management (11th Edition), Standalone Book
Ch. 6 - Prob. 1DQCh. 6 - Prob. 2DQCh. 6 - Prob. 3DQCh. 6 - Prob. 4DQCh. 6 - Prob. 5DQCh. 6 - Prob. 6DQCh. 6 - Prob. 7DQCh. 6 - Prob. 8DQCh. 6 - Prob. 9DQCh. 6 - Prob. 10DQ
Ch. 6 - Prob. 1AYSSLCh. 6 - Prob. 2AYSSLCh. 6 - Prob. 3AYSSLCh. 6 - Prob. 4AYSSLCh. 6 - Prob. 5AYSSLCh. 6 - Prob. 6AYSSLCh. 6 - Prob. 7AYSSLCh. 6 - Prob. 8AYSSLCh. 6 - Prob. 9AYSSLCh. 6 - Prob. 10AYSSLCh. 6 - Prob. 1AYSGLCh. 6 - Prob. 1AYSALCh. 6 - Prob. 2AYSALCh. 6 - Prob. 3AYSALCh. 6 - Prob. 4AYSALCh. 6 - Prob. 1AYSEDCh. 6 - Prob. 2AYSEDCh. 6 - Prob. 3AYSEDCh. 6 - Prob. 1AYSCFCACh. 6 - Prob. 2AYSCFCACh. 6 - Prob. 3AYSCFCA
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