Managerial Decision Modeling w/ Spreadsheets‚ 3e (Balakrishnan/Render/Stair) Chapter 11 Forecasting Models 11.1 Chapter Questions 1) Consider the following data that was fitted using a Linear Trend. Period Actual value (or) Y Period number (or) X Period 1 10 1 Period 2 11 2 Period 3 9 3 Period 4 12 4 Period 5 13 5 Period 6 12 6 Period 7 15 7 The intercept of the trend line is 8.714‚ and the slope is 0.75. What is the forecast for period 8? A) 13.714 B) 14.714 C) 15.714 D) 16.714 E) 15.75
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SM Investments Companies Retail and Malls SM Prime Holdings is the parent company of the SM Group’s shopping malls. It is the largest shopping mall and retail operator in the Philippines. It was incorporated on 6 January 1994 byFilipino-Chinese entrepreneur Henry Sy to develop‚ conduct‚ operate and maintain SM commercial shopping centers and all businesses related thereto‚ such as the lease of commercial spaces in the compound of shopping centers. It went public on 5 July 1994 and subsequently
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Assignment 3 1. The Accuweather Corporation manufactures barometers and thermometers for weather forecasters. In an attempt to forecast its future needs for mercury‚ Accuweather’s chief economist estimated average monthly mercury needs as: N = 500 + 10X where N = monthly mercury needs (units) and X = time period in months (January 2008= 0). The following monthly seasonal adjustment factors have been estimated using data from the past five years: Month Adjustment Factor January 15%
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Riordan Manufacturing Riordan Manufacturing is a fortune 1000 company that manufactures plastic fan parts‚ and other products in relations to plastics. The company had an expansion in 2000‚ when operations were opened in China. At that time‚ the entire fan manufacturing operation was in China. The following paper will discuss Riordan’s supply chain design applicable to manufacturing its electric fans Riordan’s Manufacturing Strategy Riordan manufacturing strategy is a combination of both chase
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OM 300 Final Exam Study Guide Chapter 4: Forecasting Forecasting Steps- 1. Determine the use of the forecast. 2. Select the items to be forecasted. 3. Determine the time horizon of the forecast. 4. Select the forecasting models. 5. Gather the data. 6. Make the forecast. 7. Validate and implement results. Forecasting Methods 1. Qualitative Method- Used when a situation is vague and little data exist. Used for new products and new technology. Involves intuition
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race’s outcome. Usually it is if the odds or probability are great in favor of the desired outcome. However the future is uncertain and races can turn out any of a number of different ways. The field of medicine is another high subscriber to this forecasting technique. Potential diagnoses are frequently made based on a patient’s history or that of his ancestors and the calculated likelihood of him/her acquiring certain conditions. Statistics and probability aid in the decision making process of
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Service the Process Learning Objectives By the end of this Unit‚ you should be able to: Describe different types of demand patterns and explain the difference between dependent and independent demand. Explain the main different ways of forecasting demand. Describe the main issues to consider when specifying delivery and supplier service/responsiveness. Outline other types of information important to the supplier that should be included in a specification. ITC M2:U4:1 Purchase
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originated over the Atlantic off of the western region of Africa. Although Floyd only began as a tropical wave‚ it became a storm the United States thought could be the biggest and strongest they had ever seen. In preparation for this storm from Weather Forecast Offices and different Prediction Centers began to warn the public. Although the strange path of the hurricane‚ it was believed that it could directly hit Florida and wreak havoc up the coastline of the United States. As Floyd raised its power
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Obermeyer Sport A Strategic Direction in Forecasting Introduction & Summary Klaus Obermeyer is an innovator in the high-end skiwear industry. The company began with down filled jackets and slowly began to diversify its product line with high-altitude suntan lotion‚ turtlenecks‚ nylon wind-shirts‚ mirrored sunglasses and more. In 1961‚ the first Sport Obermeyer factory warehouse opened in Aspen‚ and the innovations continued with “soft-shell” jackets‚ double lens goggles‚ and the first
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Last Date of Submission: 15th November 2012 Maximum Marks: 100 Attempt all the questions. All questions are compulsory and carry equal marks. SECTION – A 1. a) Explain the need for different forecasting techniques. How can we evaluate as to how good is our forecast. b) Collect data on the amount of expenditure you do each day for the next 25 days and based on the same forecast using 7day moving average the forecast for the 26th
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