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Critical Thinking Forecasting
Consider a case where demand follows a repeating pattern of medium-low-medium-high-medium-low-medium-high-etc, where the difference between low and med is 5 units, and the difference between med and high is 5 units.
If an exponential smoothing forecasting model was used with infiniti=1, then:
a) What would the Cumulative Forecast Error (CFE) be over a twenty-day interval? Explain in words more than showing the calculation, why is the result like this.
b) What would the Mean Absolute Deviation (MAD) be, over twenty-day interval? Explain it in words of why the result is as it is
How does the bell-shaped curve for the sampling distribution of sample means for samples of size n = 100 compare to the bell-shaped curve for sampling distribution of sample means for samples of size n = 60.
File a claim is 0.0005. Suppose they wrote 400 policies for the coming weekend, what is the probability that exactly two claims will be filed?
Times spent studying by students in the week before final exams follow a normal distribution with standard deviation 8 hours. A random sample of four students was taken in order to estimate the mean study time for the population of all students.
mars inc. claims that they produce mampms with the following distributions
You might find the probabilities using the Table or software of your choice. Please explain how you obtained your results.
How many commuters must be randomly selected to estimate the mean driving times of Chicago commuters? If we want 99% confidence that the sample mean is within 2 minutes of the population mean, and the population standard deviation is known to be 1..
Selected data for the company's operations last year follow (all currency values are in thousands of rupiahs):Assume that the company uses absorption costing. Compute the unit product cost for 1 gamelan.
A marketing research analyst collects data for a random sample of 100 customers out of the 400 who purchased a particular "coupon special".
Find the left and right critical values from the appropriate table for a 95% confidence interval for the mean when the sample size is 23.
Distribution in Research simulation located on your student website. During the third cycle of the simulation, you need to make a decision about buying machinery.
A manufacturer has a maximum of 240, 360, and 180 kilograms of wood, plastic and steel available. The company produces two products, A and B. Each unit of A requires 1, 3 and 2 kilograms of wood, plastic and steel respectively;
1 analyze and interpret the process behavior charts of selected quarterly earnings data of southwest airlines between
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