Reference no: EM13187127
1. Sales for the past 12 months at the Young Company are given here.
|
Month
|
Sales ($ millions)
|
|
January
|
20
|
|
February
|
24
|
|
March
|
27
|
|
April
|
31
|
|
May
|
37
|
|
June
|
47
|
|
July
|
53
|
|
August
|
62
|
|
September
|
54
|
|
October
|
36
|
|
November
|
32
|
|
December
|
29
|
a. Use a three-month moving average to forecast sales for January.
b. Use a four-month moving average to forecast sales for January.
c. Use a three-month weighted moving average to forecast sales for January. Use weights of (3/6), (2/6) and (1/6), giving more weight to more recent data.
d. Use exponential smoothing with a = 0.6 to forecast sales for January.
e. Using the mean absolute deviation as the performance criteria, pick the preferred forecast. Begin the error measurement in May.
f. Using the mean squared error as the performance criteria, pick the preferred forecast. Begin the error measurement in May.
2. SGC Milk Products manufacturers and distributes ice cream in upstate New York. The company wants to expand operations by locating another plant in Vermont. The size of the new plant will be a function of the expecteddemand for ice cream within the area served by the plant. A market survey is currently underway to determine that demand.
SGC wants the estimate the relationship between the manufacturing cost per gallon and the number of gallons sold in a year to determine the demand for ice cream and, thus, the size of the new plant. The following data have been collected:
|
Plant
|
Cost per 1000 gallons
|
Gallons sold (1000s)
|
|
1
|
1,015
|
416.9
|
|
2
|
973
|
472.5
|
|
3
|
1,046
|
250.0
|
|
4
|
1,006
|
372.1
|
|
5
|
1,058
|
238.1
|
|
6
|
1,068
|
258.6
|
|
7
|
967
|
597.0
|
|
8
|
997
|
444.0
|
|
9
|
1,044
|
263.2
|
|
10
|
1,008
|
372.0
|
a. Develop a regression equation to forecast the cost per gallon as a function of the number of gallons sold.
b. Suppose the market survey indicates a demand of 325,000 gallons in the Albany, NY area. Estimate the manufacturing cost per gallon for a plant producing 325,000 gallons per year.
3. Demand for oil changes at Lubes R Us have been as follows:
|
Month
|
Oil Changes
|
|
January
|
41
|
|
February
|
46
|
|
March
|
57
|
|
April
|
52
|
|
May
|
59
|
|
June
|
51
|
|
July
|
60
|
|
August
|
62
|
a. Use simple linear regression analysis to develop a forecasting model for monthly demand. What is the forecast demand for September?
b. Use a three-month moving average to forecast demand for September.
c. Which forecast is best? Why?
|
Accounting and consulting partnership
: Hannah is a managing partner of Andrusian Worldwide LLP, an accounting and consulting partnership. Acting within her implied authority, Hannah makes a contract for Andrusian to perform an audit for National Motors Company.
|
|
What is delta s for the conversion of supercooled water
: What is delta S for the conversion of 10 g of supercooled water at -10 degrees Celsius and 1 atm to ice at 10-10 degrees Celsius and 1 atm?
|
|
Explain measure of economic well-being
: GDP does not include the value of used goods that are resold. Why would including such transactions make GDP a less informative measure of economic well-being
|
|
What type of decision is ken facing
: For example, if Ken purchases a Sub 100 and if there is a favorable market, he will realize a profit of $300,000. On the other hand, if the market is un-favorable, Ken will suffer a loss of $200,000. But Ken has always been a very optimistic decis..
|
|
Develop a regression equation to forecast
: Develop a regression equation to forecast the cost per gallon as a function of the number of gallons sold and estimate the manufacturing cost per gallon for a plant producing 325,000 gallons per year.
|
|
Describe how a domestic fast food chain with plans
: Describe how a domestic fast food chain with plans for expanding into China would be able to use a forecasting model.
|
|
Find the slope of the tangent line to the curve
: Use the limit definition of the derivative to find the slope of the tangent line to the curve f(x)=3x^2 at x=1
|
|
State if the ends of these molecules look the same
: Cadaverine are 9.13 and 10.25. If the ends of these molecules look the same, why do they have different pkas?
|
|
Find the area of the shaded region
: A triangle is placed in a semicircle with a radius of 5yd. Find the area of the shaded region. Use the value for 3.14 , and do not round your answer. Be sure to include the correct unit in your answer.
|