Productions and Operations Midterm
I
MGMT 3100
Production and Operations Management
MID-TERM EXAM – SPRING 2012
Name:
This is a TAKE-HOME Exam. The exam consists of six questions on 2 pages. You are required to answer ALL the questions. Answer each question thoroughly and show all your calculations. Give clear explanations for your answers where necessary. Completed exams are due on Thursday, March 4th by Midnight. You may use regular e-mail or the drop-box to submit your completed exam.
EACH STUDENT IS EXPECTED TO ABIDE BY THE SENTIMENTS CONTAINED IN THE FOLLOWING HONOR STATEMENT
TAKE-HOME EXAM HONOR STATEMENT:
I did not request or receive assistance in preparing the answers to this exam. (Clarifications that you seek from the instructor will not be counted as assistance).
Question 1. (35 points)
The Multifaceted Garden Store uses two forecasting techniques to predict annual national sales of their lawnmowers at their various franchises. The actual sales and the corresponding forecasts for techniques 1 & 2 for the period spring 2010 to spring 2011 are given below:
| |Spring 10 |Summer 10 |Fall 10 |Winter 10 |Spring 11 |
|Actual |17178 |11452 |6106 |1527 |18183 |
|Forecast 1 |16948 |11250 |6308 |1604 |18007 |
|Forecast 2 |17453 |12102 |6006 |1445 |18504 |
a. Calculate the MAD, the MAPE, the MSE and the tracking signal for Forecast 1.
b. Calculate the MAD, the MAPE, the MSE and the tracking signal for Forecast 2.
c. Compare the results obtained in parts (a) and (b). There is a significantly smaller amount of error in the forecast for Part A. The large error for the summer 10 and
MGMT 3100
Production and Operations Management
MID-TERM EXAM – SPRING 2012
Name:
This is a TAKE-HOME Exam. The exam consists of six questions on 2 pages. You are required to answer ALL the questions. Answer each question thoroughly and show all your calculations. Give clear explanations for your answers where necessary. Completed exams are due on Thursday, March 4th by Midnight. You may use regular e-mail or the drop-box to submit your completed exam.
EACH STUDENT IS EXPECTED TO ABIDE BY THE SENTIMENTS CONTAINED IN THE FOLLOWING HONOR STATEMENT
TAKE-HOME EXAM HONOR STATEMENT:
I did not request or receive assistance in preparing the answers to this exam. (Clarifications that you seek from the instructor will not be counted as assistance).
Question 1. (35 points)
The Multifaceted Garden Store uses two forecasting techniques to predict annual national sales of their lawnmowers at their various franchises. The actual sales and the corresponding forecasts for techniques 1 & 2 for the period spring 2010 to spring 2011 are given below:
| |Spring 10 |Summer 10 |Fall 10 |Winter 10 |Spring 11 |
|Actual |17178 |11452 |6106 |1527 |18183 |
|Forecast 1 |16948 |11250 |6308 |1604 |18007 |
|Forecast 2 |17453 |12102 |6006 |1445 |18504 |
a. Calculate the MAD, the MAPE, the MSE and the tracking signal for Forecast 1.
b. Calculate the MAD, the MAPE, the MSE and the tracking signal for Forecast 2.
c. Compare the results obtained in parts (a) and (b). There is a significantly smaller amount of error in the forecast for Part A. The large error for the summer 10 and