Operations Management: Processes And Supply Chains (12th Edition) (what's New In Operations Management)
12th Edition
ISBN: 9780134742205
Author: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
Publisher: PEARSON
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Chapter 8, Problem 22P
Summary Introduction
Interpretation: The trend projection with regression using time series
Concept Introduction: Forecasting refers to the estimation of a future event during a fixed time and trend projection with regression is mean of estimation with the help of regression line and exponential smoothing refers to data smoothing(moving average can be used) for forecasting having a pattern in given data
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The Wellington company wants to develop a simple linear regression model for one of its products. Use the following 12 periods of historical data to develop the
regression equation and use it to forecast the next three periods.
Click the icon to view the historical data for the previous 12 periods.
The simple linear regression line is F₁ =
+ x₁. (Enter your responses rounded to two decimal places and include a minus sign if necessary.)
Find the forecasts for periods 13-15 based on the simple linear regression and fill in the table below (enter your responses rounded to two decimal places).
Period
Forecast
(Ft)
Period
(x)
1
2
3
4
5
6
7
8
9
10
11
12
(y)
905
930
825
774
791
647
656
661
479
669
494
441
X
(x) Fo
13
14
15
Please, I need help with this one too. It is due today.
The following data are for calculator sales in units at an electronics store over the past nine weeks:
Week
Sales
Week
Sales
1
45
53
2
50
7
59
3
44
8.
59
4
51
9
64
5
57
Use trend projection with regression to forecast sales for weeks 10 - 13. What are the error measures (CFE, MSE, o, MAD, and MAPE) for this forecasting procedure? How about ?
Obtain the trend projection with regression forecast for weeks 10 – 13. (Enter your responses rounded to two decimal places.)
Period
Forecast, F,
10
64.81
11
67.06
12
69.31
13
71.56
Obtain the error measures. (Enter your responses rounded to two decimal places.)
CFE
MSE
MAD
МАРЕ
Chapter 8 Solutions
Operations Management: Processes And Supply Chains (12th Edition) (what's New In Operations Management)
Ch. 8 - Figure 8.9 shows summer air visibility...Ch. 8 - Kay and Michael Passe publish What‘s...Ch. 8 - Demand for oil changes at Garcia’s Garage has...Ch. 8 - Prob. 2PCh. 8 - Ohio Swiss Milk Products manufactures and...Ch. 8 - A manufacturing firm has developed a skills test,...Ch. 8 - The materials handling manager of a manufacturing...Ch. 8 - Marianne Kramer, the owner of Handy Man Rentals,...Ch. 8 - Sales for the past 12 months at Computer Success...Ch. 8 - Bradley’s Copiers sells and repairs photocopy...
Ch. 8 - Consider the sales data for Computer Success given...Ch. 8 - A convenience store recently started to carry a...Ch. 8 - Community Federal Bank in Dothan, Alabama,...Ch. 8 - The number of heart surgeries performed at...Ch. 8 - The following data are for calculator sales in...Ch. 8 - Prob. 14PCh. 8 - Forrest and Dan make boxes of chocolates for which...Ch. 8 - The manager of Alaina’s Garden Center must make...Ch. 8 - The manager of a utility company in the Texas...Ch. 8 - Franklin Tooling, Inc., manufactures specialty...Ch. 8 - Create an Excel spreadsheet on your own that can...Ch. 8 - Prob. 20PCh. 8 - Using the data in Problem 20 and the Time-Series...Ch. 8 - Prob. 22PCh. 8 - Cannister, Inc., specializes in the manufacture of...Ch. 8 - The Midwest Computer Company serves a large number...Ch. 8 - A certain food item at P=0.20 (with a combination...Ch. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - A manufacturing firm seeks to develop a better...Ch. 8 - How much does the forecasting process at Deckers...Ch. 8 - Prob. 2VCCh. 8 - What factors make forecasting at Deckers...Ch. 8 - Prob. 4VCCh. 8 - Prob. 5VCCh. 8 - Comment on the forecasting system being used by...Ch. 8 - Develop your own forecast for bow rakes for each...
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