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Consider the following time series data
Month 1 2 3 4 5 6
Value 18 13 16 11 17 14
Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.
a. mean absolute error
b mean squarred error
c. mean absolute percentage error
d. What is the forcast for week 7?
What is risk? How does risk differ from uncertainty? How does it impact a business? Can a factory be fast, dependable, flexible, produce high-quality products, and still provide poor service from a customer's perspective?
In controlling, how/where will the company use bureaucratic control and other types of control?
Why would a company want to reduce the number of kanban cards they use? Explain your answer in detail.
State the core differences between Leadership and Management.
Draw a sketch of the procurement Importance Matrix and briefly explain the focus/purchasing strategy that should be used for each of the four category items types.
Under what environmental conditions are price wars most likely to occur in the industry? What are the implications of price wars for a company?
Emotional intelligence is a conglomeration of, Companies use expatriates for international assignments to
Patient survives treatment but is permanently disabled, and 3. Patient fails to survive treatment. Dr. Mac has prepared the decision table below. What mode of treatment maximizes the expected value?
Moreover, based on counting the number of passengers waiting in line, airport management found that the average number of passengers waiting for check-in was 35. How long did the average passenger have to wait in line?
What tools would you employ to complete this assignment? Please include a brief description of each one, a diagram is not needed.
What is a transportation problem? Briefly discuss the decision variables, the objective function and constraint requirements in a transportation problem. Give a real world example of the transportation problem.
Determine the total costs of ordering and holding inventory for the year to see how much could they save by ordering the EOQ amount when they order paper once a week.
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