Question 7A relationship diagram isA schematic diagram that uses weighted lines to denote location preferenceA type of schematic layout diagram that includes space requirementsA format for displaying manager's preferences for department locationsA network that describes restrictions on the order in which work elements must be performedQuestion 8Qualitive methods of forecasting are based on best guesses, past experience, and other subjective methods.True

A relationship diagram is a graphical representation of the relationships among people, objects,…

Answered: A relationship diagram is A schematic…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question 3 ABC Restaurant has made a forecast for last week's operations vs Actual result of the forecast last week. Period Monday Tuesday Wednesday Thursday Friday Actual 112 110 113 120 140 Forecast 115. 1041 110 115 135 Using this table above, solve for Mean Absolute Percent Error (MAPE) Note Round up to the last 2 decimals, example 9.6568->9 66 3
Question 2 ABC Restaurant has made a forecast for last week's operations vs Actual result of the forecast last week. Period Monday Tuesday Wednesday Thursday Friday Actual 112 110 113 120 140 Forecast 115 104) 110 115 135 k Using this table above, solve for Mean Squared Error (MSE) Note Round up to the last 2 decimals example 9.6568 -9.66 2
Question 45 Forecasting is utilized in which of the following areas? A product demand process design (c) new technology D all of the above
question 10. The forecast was 70 units for the current period while actual demand was 76. The forecast for the next period is 75.8. What's alpha if a simple exponential smoothing forecast methoc being used? 6 OA. 0.097 OB. 0.967 OC. 0.004 OD. 0.040 Mark for review (Will be highlighted on the review page) > LOST LO EAST DONT Review My Answers 18°C Mostly cloudy AENG CERTIFICATE OF TRAMMING TRANSPORTATION OF DANGEROUS GOODS CERTIFICATE DE FORMATION TRANSPORT DES MERCHANDS DANGEREUSES James Purkisarajah Klean or N Save & Exit 75 Advance Blvd Brampton, Onta 2:52 F 2022-18
1. The FedEx Company supports its global network, the company has 51 customer service call centers, whose service goal is to answer 90% of calls within 20 seconds. With million daily calls, FedEx makes extensive use of forecasting models for the number of calls, average handling time, and staffing decisions and to ensure the highest customer satisfaction. Question: Being an Operational Manager, guide with reasons for the company to use appropriate forecasting models.
Question type: Forecasting a b i ii iii iv V The monthly sales for Otter Batteries, Inc., were as follows: Plot the monthly sales data. Forecast January sales of the next year using each of the following: Naive method. A-3month moving average. A 3-month weighted average using .2, .3, and.5, with the heaviest weights applied to the most recent months. Exponential smoothing using an alpha= .5 and a September forecast of 70. A trend projection. X 1 2 3 4 5 6 7 8 9 10 11 12 Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sales 30 50 30 66 70 65 60 70 80 99 110 120
Question Four: ABC Company sells home appliances. Daily sales for a six-day period were as follows: Day Sales Saturday 20 Sunday 24 Monday 30 Tuesday 40 Wednesday 36 Thursday 44 Forecast Friday sales volume using each of the following methods: A three-day moving average. A four day weighted average using weights of 0.1, 0.2, 0.3 and 0.4 Exponential smoothing with a smoothing constant equal to 0.2, assuming Wednesday forecast of 42. Determine a linear trend line equation for ABC Company. Use the trend equation to forecast Friday sales volume.
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 5 Choose the answer with the best match. Elements of a Good Forecast, Meaningful: The benefits should outweigh the costs It should work consistently The degree of accuracy of the forecast should be stated The forecasting horizon must cover the time necessary to implement possible changes so that its results can be used The units measured should be useful to those using the forecast QUESTION 6 There are two main approaches to forecasting. Choose the best two: Quantitative, Consumer Judgmental, Quantitative Sales force, Judgmental Historical, Consumer Expert, Executive QUESTION 7 Describe the following: Andon Maintaining equipment in good condition Maintaining a workplace that is clean System for moving work to the next station as it is completed System of lights used at each workstation to…
Q.1: How forecasting helps in different disciplines of management science? Make a comparison between quantitative forecasting versus qualitative forecasting
Question 21 A CFE of -140 suggests which of the following? Group of answer choices a. There is a bias towards over forecasting, though we cannot determine from the data provided whether that is severe bias or not b. There is a severe bias towards overforecasting c. There is a bias towards under forecasting, though we cannot determine from the data provided whether that is severe bias or not d. There is a severe bias towards under forecasting e. Bias is negligible in this case
Question 1 Forecasting calculation X Month Sales (y)(000 units) 1 Feb. 19 2 Mar. 18 3 Apr. 15 4 May 20 5 Jun. 18 6 Jul. 22 7 Aug. 20 8 Sep a. Using a 5-month moving average, calculate September sales b. Calculate September sales Using a 3-month weighted moving average (weights are 0.60, 0.30. 0.10). c. Calculatate Exponential Smoothing (assume February sale is 19) sales in September (alpha 0.2, that means 1-0.2 = 0.8) d. Using regression analysis, what is Y (September sales) if X is 8? (use data> data analysis button> regression)

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