Reference no: EM133045318

Question 1: A computer assembly process was timed for 100 cycles and had an average of 3.4 minutes per piece. The performance rating was 90%, and workday allowances are 15 percent. Determine the following:

a) Observed time

b) Normal time

c) Standard time

d) How might this information be used?

Question 2: Lisa's landscaping business has really taken off these past couple of years. She wants to expand her operation by opening a Garden Supply Store. She is putting together a business plan and hopes to present it to her loan officer in a few weeks when applying for a start-up loan. Lisa is having difficulty figuring out how to forecast sales for the first year of operation. Never having operated a store before and not presently selling products to her current customers, Lisa doesn't have any historical data to work from.

What forecasting techniques might you recommend to Lisa (name and describe two)? Be specific about how Lisa would use these techniques for her Garden Supply Store business proposal, what data she would need to collect, and all the steps she would need to take (instructions from start to finish). Ensure your recommendation is thorough and best prepares her for her presentation to the loan officer next month. Remind Lisa, when you tell her your recommendation, how the results from your forecasting recommendation should inform other operational decisions in her business proposal.