October 2012
Intermediate to advanced
696 pages
34h 17m
English
Content preview from Operations Management: An Integrated Approach, 5th Edition
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Problems
1. Sales for a product for the past three months have been 200, 350, and 287. Use a three-month moving average to calculate a forecast for the fourth month. If the actual demand for month 4 turns out to be 300, calculate the forecast for month 5.
2. Lauren's Beauty Boutique has experienced the following weekly sales:
| Week | Sales |
| 1 | 432 |
| 2 | 396 |
| 3 | 415 |
| 4 | 458 |
| 5 | 460 |
Forecast sales for week 6 using the naïve method, a simple average, and a three-period moving average.
3. Hospitality Hotels forecasts monthly labor needs.
- (a) Given the following monthly labor figures, make a forecast for June using a three-period moving average and a fiveperiod moving average.
Month Actual Values January 32 February 41 March 38 April 39 May 43 - (b) What would be the forecast for June using the naïve method?
- (c) If the actual labor figure for June turns out to be 41, what would be the forecast for July using each of these models?
- (d) Compare the accuracy of these models using the mean absolute deviation (MAD).
- (e) Compare the accuracy of these models using the mean squared error (MSE).
4. The following data are monthly sales of jeans at a local department store. The buyer would like to forecast sales of jeans for the next month, July.
- (a) Forecast sales of jeans for March through June using the naïve method, a two-period moving average, and exponential smoothing with an α = 0.2. (Hint: Use naïve to start the exponential smoothing process.)
- (b) Compare the forecasts ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.