Reference no: EM131305049
Option : Operations Management Forecasting for Retail and Real Estate Industries
Solve the following forecasting problems at the end of Chapter 4 in the Heizer & Render (2014) textbook:
4.23 a, b, and c.
4.35 a, b, c, and d.
You may solve the problems using:
(a) pencil, paper, and calculator, or
(b) MS Excel. You are encouraged to use Excel if you are familiar with the software, but how to use Excel is not taught in this course.
Be sure to find the example problems in Chapter 4 that list 4.23 and 4.35 in the Related Problems line of the example solutions, and practice these example problems prior to attempting 4.23 and 4.35. I have attached some helpful info about chapter 4
Submit your solutions in an MS Word document only. You will provide a total of seven answers, and you must show exactly how you calculated each of the seven answers. Your submission will be graded based on the accuracy of your answers and the degree to which you clearly show each step of your analytical approach and calculations. Papers that are submitted with accurate answers, but do not include the details of how those answers were determined, will not be eligible for full credit. Papers that are submitted with accurate analytical methods and calculation approaches, but inaccurate final answers, will be eligible for some credit.
Seven Steps in Forecasting
1. Determine the use of the forecast
2. Select the items to be forecasted
3. Determine the time horizon of the forecast
4. Select the forecasting model(s)
5. Gather the data needed to make the forecast
6. Make the forecast
7. Validate and implement results
Attachment:- week_2_.rar
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