Demonstrate the use of linear programming model

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Reference no: EM132046233 , Length: word count:4500

Assessment 1 - Business report

Topic - Case Study Analysis

You are required to demonstrate the following knowledge and skills in this assessment

- Demonstrate the use of linear programming model to solve a real world supply chain problem;

- Demonstrate the use of computer software to get necessary output;

- Demonstrate the interpretation of computer output to answer different questions,

Demonstrate the use of managerial report effectively to convey your results to senior managers.

Assessemnt 1 - 3000 words

Assessment 2 - Business report

You are required to demonstrate the following knowledge and skills in this assessment

- Demonstrate the understanding of the role and application of regression models for business case in real world problem;

- Demonstrate the knowledge of how to develop a useful linear regression model from the historical dataset and identify parameter estimates;

- Demonstrate the ability to formulate significant conclusions from the developed regression model; and

Demonstrate the use of managerial report effectively to convey your results to senior managers.

Assessemnt 2 - 1500 words

WIENER FOOD COMPANY

THE PROBLEM DESCRIPTION

For many years, Wiener Food Company has operated a restaurant in a resort community near ski area of Simmering in Vienna. The restaurant is busiest during the first 3 months of the year, when the ski slopes are crowded and tourists flock to the area.

As the view surrounding mountains was breathtaking, a high priority was placed on having large windows and providing a spectacular view from anywhere inside the restaurant. Special attention was also given to the lighting, colors, and overall ambiance, resulting in a truly magnificent experience for all who came to enjoy gourmet dining. Since its opening, the restaurant has developed and maintained a reputation as one of the "must visit" places in that region of Vienna.

Due to personal preferences, the founders of the Wiener Food Company have decided to sell the restaurant and open a bed and breakfast near a company owned large winery and Heuriger (an Austrian tavern where wine from the latest harvest is served) in another part of Vienna. To make this happen, the founders would have to sell the restaurant for the right price. The price of the business would be based on the value of the property and equipment, as well as projections of future income. A forecast of sales for the next year is needed to help in the determination of the value of the restaurant. Monthly sales (in €1,000s) for each of the past 3 years are provided in Table below.

Month	Y1	Y2	Y3
Jan	219	222	225
Feb	210	212.5	219
Mar	207	211.5	217
Apr	159	165.5	169
May	153	159	165.5
Jun	120	122.5	127
Jul	120	127.5	132
Aug	108	111.5	115.5
Sep	99	105	112
Oct	112.5	116.5	121.5
Nov	135	139	144.5
Dec	157.5	161	167.5

Questions

1. Prepare a graph of the data. On this same graph, plot a 12-month moving average forecast. Discuss any apparent trend and seasonal patterns.

2. Use regression to develop a trend line that could be used to forecast monthly sales for the next year. Is the slope of this line consistent with what you observed in question 1? If not, discuss a possible explanation.

3. Use the multiplicative decomposition model on these data. Use this model to forecast sales for each month of the next year. Discuss why the slope of the trend equation with this model is so different from that of the trend equation in question 2.

Prepare a managerial report and provide detailed discussion on the method adopted, justification, and the recommendations provided for each of the questions above.

Important Notes

1) You may make reasonable assumptions and informed judgements as needed, but make sure to state them clearly in your report. Do not use assumptions merely to by-pass the challenges faced.

2) Ensure you refer to the marking criteria before finalising the model/report.

Reference no: EM132046233

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Reviews

len2046233

7/9/2018 10:35:14 PM

To be eligible to pass this subject, students must complete all assessment tasks for this subject. In addition, you must achieve a total mark of 50% or over and obtain a minimum of 50% in the final examination or major piece of assessment (where there is no final exam). Where a student gains a mark of 50 or greater and does not meet the specified level in an assessment task required to pass the subject a Technical Fail (TF) grade will be given. Where a Technical Fail is given the following applies: a. Failure of the subject; b. a TF without a mark will be granted; c. a TF will be presented on the student's academic transcript; d. The allocated mark of 49 will be used as the WAM calculation for subjects at all levels.

len2046233

7/9/2018 10:32:15 PM

Articulation and justification of Recommendations (20%):-Present comprehensive and actionable recommendations with adequate justifications to address the key issues/problems identified - Demonstrate the use of managerial report effectively to convey your results to senior managers Report structure and presentation standard (10%):- Demonstrate a professional presentation standard with a suitable report structure, content, language and evidence supporting claims for action (recommendations)

len2046233

7/9/2018 10:32:11 PM

Marking Criteria: You are required to demonstrate the following knowledge and skills in this assessment task: Problem formulation and preparatory work (10%): - Demonstrate the use of forecasting models to solve a real world problem; - Articulate the problem at an appropriate level of detail, considering key variables, objectives and assumptions (if any) etc. Model building (30%): - Set all relevant parameters required to ensure fidelity of the modelling exercise -Demonstrate the use of computer software to get necessary output Analysis approach (30%): -Discuss and formulate the scenarios relevant for answering different questions -Demonstrate the interpretation of computer output to answer different questions

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