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Harlen Industries has a simple forecasting model: Take the actual demand for the same month last year and divide that by the number of fractional weeks in that month. This gives the average weekly demand for that month. This weekly average is used as the weekly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown below along with the actual demand that occurred. The following eight weeks show the forecast (based on last year) and the demand that actually occurred: WEEK FORECAST DEMAND ACTUAL DEMAND 1 130 127 2 130 123 3 135 152 4 133 162 5 133 182 6 143 172 7 140 185 8 142 205 a. Compute the MAD of forecast errors. (Round your answers to 2 decimal places.) Week MAD 1 3.0 2 7.0 3 4 5 6 7 8 b. Using the RSFE, compute the tracking signal. (Round your answers to 2 decimal places. Negative values should be indicated by a minus sign.)
What is the probability that this individual has the disease if, in the population as a whole, it is estimated that 1 in 10 people have the disease and what is the probability that this individual has the disease if it is estimated that 1 in 1,000..
How can the results of queuing analysis be used by a decision maker for making decisions? Define the four basic waiting line structures and give an example of each. Why do waiting lines form at a service facility even though there may be more than en..
How is a project baseline used to guide the execution of the project's work, to evaluate progress and performance, and to control the project? Also, as you continue to think about monitoring and controlling the project, specifically consider the ques..
Discuss how a solid marketing effort helps small businesses to become quickly profitable. Discuss the ramifications of ill-defining the legal organization of a start-up business.
Design a knowledge application system to support your business needs. Describe the type of system and the foundation technologies that you would use to develop such system. What are some of the intelligent technologies that enable those systems?
Illustrate what are some of problems AECS facing. Are they inherent in its model or they could be rectified while keeping model intact.
Rick wing has a repetitive manufacturing plant producing automobile steering wheels, use the following date to prepare for a reduce lots size , the firm uses a work year of 295 days ; Find the setup cost and setup time
What is the reorder point if Floyd assumes a constant demand rate? What is the safety stock for part (b)? If Ch = $5/unit/year, what is the extra cost due to the uncertainty of demand?
1 what are the causes incidences and risk factors of a stroke?2 list alternate names of a stroke.3 what are the 2 major
Perform an analysis of the social / demographic, technological, economic, environmental / geographic, and political/legal / governmental segments to understand the general environment facing Union Pacific.
To increase the responsiveness of a single exponential smoothing forecasting model the forecasting analyst should
Computed the forecasting error using the exponential smoothing technique. Computed the forecasting error using the weighted smoothing average method.
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