As manager of a retail outlet readying for an uncertain Christmas season, you're not sure how many extra staff to hire and you must pre- commit (decide before knowing busyness). What is the most you would be willing to pay for a perfect forecast of season busyness? (Choose the closest maximum price). Season Low staff levels Quiet (30% kelihood) Busy (70% keihood) $16,333 $22,000 High staff levets $10,000 $54.000
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- The following are some check points: * Problem 6: Month 9 forecast: 26.333; Month 9 error: -3.333 * Problem 7: Month 7 forecast: 22.68; Month 7 error -0.68 * Problem 16A: ROLLED DOWN unit forecast for part C is 22, F is 2, I is 254, and L is 3.To avoid the potential loss of important customer data and financial records, the hotel should perform which of the following office procedures regularly? Question 2 options: a) Audit b) Forecast c) Backup d) TraceProblems: 1. A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 90 percent of capacity; actual usage was 87.6 percent of сарacity. A smoothing constant of .1 is used. a. Prepare a forecast for September. b. Assuming actual September usage of 92 percent, prepare a forecast for October usage. 2. An electrical contractor's records during the last five weeks indicate the number of job requests: Week: 3 4 30 32 28 Requests: 32 31 Predict the number of requests for week 6 using each of these methods: a. Naive. b. A four-period moving average.
- Organizing involves determining organizational goald and means for achieving them Question 2 options: True FalseRequired information Camp Rainbow offers overnight summer camp programs for children ages 10–14 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not coed, so boys attend during the odd-numbered weeks and girls attend during the even-numbered weeks. While at the camp, participants make crafts, participate in various sports, help care for the camp's resident animals, have cookouts and hayrides, and help assemble toys for local underprivileged children. The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin. Three camp managers are on- site regardless of the number of campers enrolled. Following is the cost information for Camp Rainbow's operations last summer: Number of Cost to Run Campers 172 Week Camp $13,810 9,350 11,360 14,380 14,000 12,440 10,180 8,440 112 3 148 4 184 5 174 152…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
- Urgent plz: None of answers provided previously were correct. Need correct answers. Organized A statistical program is recommended. The quarterly sales data (number of copies sold) for a college textbook over the past three years follow. Quarter Year 1 Year 2 Year 3 1 1,690 1,800 1,850 2 940 900 1,100 3 2,625 2,900 2,930 4 2,500 2,360 2,615 compute the quarterly forecasts for year 4. (Round your answers to the nearest ten.) quarter 1 forecast ________ quarter 2 forecast_______ quarter 3 forecast ________ quarter 4 forecast _______ Based upon the seasonal effects in the data and linear trend, compute the quarterly forecasts for year 4. (Round your answers to the nearest ten.) quarter 1 forecast ________ quarter 2 forecast_______ quarter 3 forecast ________ quarter 4 forecast _______Which of the following statements about forecasting based on big data analytics is true? Question 5 options: Most firms should outsource this analysis. Most firms have all of the resources needed to do this analysis. Most firms may need to acquire new resources to do this analysis. All are true statements regarding big data analytics.Question 4 (1 point) As buyers are increasingly facing information overload, salespeople should ensure information is streamlined and personalized. OTrue OFalse Question 5 (1 point) Blogs, white papers, webinars, and presentations should be proyided to targeted customers. OTrue OFalse Question 6 (1 point) dal fne avaluating solution alternatives uses weighted averages.
- Compute for MAD, MSE and MAPE using Moving Average Model (past 3 Weeks), В. А. Exponential Smoothing Model (a = 0.2) С. What is your sales forecast for Period 8 using A and B? Period Actual Sales Forecast Error Error Error |Error %| 1 39 44 3 40 4 45 5 38 6. 43 7. 39 MAD MSE МАРЕ Compute for MAD, MSE, and MAPE using the Moving Average Model (past 3 weeks). Use two decimal places and do not put unit of measurement (UoM). (for example 35.00 or 35.40) MAD is Blank 1. MSE is Blank 2. MAPE is Blank 3%. Blank 1 Add your answer Blank 2 Add your answer Blank 3 Add your answer Compute for MAD, MSE, and MAPE using the Exponential Smoothening Model (a=0.2). Use two decimal places and do not put unit of measurement (UoM). (for example 35.00 or 35.40) MAD is Blank 1. MSE is Blank 2. MAPE is Blank 3%. Blank 1 Add your answer Blank 2 Add your answer Blank 3 Add your answer What is your sales forecast for period 8 using Moving Average Model and Exponential Smoothing Model? Use two decimal places and…Cluster analysis is often used for what business purpose? Question 12 options: Predicting product demand Segmenting customers Assessing product success Forecasting future revenueDescribe the role of forecasting in operations management. Explain why accurate forecasting is important for organizations and discuss the various methods and techniques used for forecasting demand, production, and other relevant factors. 20:17