Reference no: EM131408216
Problem 1:
In this problem, you are to test the validity of your forecasting model. Here are the actual demands that occurred and the forecasts for a model you have been using:
Week
|
Actual
|
Forecast
|
1
|
900
|
800
|
2
|
1,000
|
850
|
3
|
1,050
|
950
|
4
|
900
|
890
|
5
|
900
|
900
|
6
|
1,100
|
975
|
Decide whether the forecasting model you have been using is giving reasonable results. Justify your answer.
Problem 2:
Tampa's Soda Pop, Inc. has a new fruit drink for which it has high hopes. Don Hammond, the production planner, has assembled the following data and demand forecast:
Quarter
|
Forecast
|
1
2
3
4
|
1,800
900
1,600
1,100
|
Previous quarter's output = 1,100 cases
Beginning Inventory = 160 cases
Backorder cost = $35 per case at the end of the quarter
Inventory holding cost = $30 per case at the end of quarter
Hiring employees = $30 per case
Firing employees = $40 per case
Subcontracting cost = $80 per case
Unit cost on regular time = $20 per case
Overtime cost = $15 extra per case
Capacity on regular time = 1,800 cases per quarter
Capacity on overtime = 200 cases per quarter
Develop an aggregate plan using the three following options:
Plan A: Chase strategy that hires and fires personnel as necessary to meet the forecast.
Plan B: Level strategy. (Overtime not allowed)
Plan C: Level strategy that produces 1,100 units per quarter and meets the forecasted demand with overtime, subcontracting and inventory building (backorder is not allowed).
If you are the production manager, which plan do you implement and why?
Explain why claim is pseudoscientific rather than scientific
: In a Microsoft Word document, explain the "scientific" claim that is being made. Also explain why the claim is pseudoscientific rather than scientific
|
How should zeus power account for this situation
: How should Regional Supply account for the situation? Briefly describe some of the factors that might affect how Regional Supply chooses to account for this situation.
|
Determine the confidence interval for the population mean
: Using the 0.025 level of significance in testing for the main and interactive effects, what conclusions should be drawn from this experiment? Determine the 95% confidence interval for the population mean for each factor level.
|
Explain the US economic espionage act
: Describe what provisions you would include to enhance the U.S. Economic Espionage Act of 1996. Target word count minimum is 500 words
|
Validity of your forecasting model
: In this problem, you are to test the validity of your forecasting model. Here are the actual demands that occurred and the forecasts for a model you have been using:
|
Compute the amount in the bonus pool
: Briefly describe why a company would institute a bonus plan, and compute the amount in the bonus pool if Jordan Brothers shows net income of $300,000. Prepare the journal entry that would be recorded to reflect the bonus liability at the end of th..
|
Who contributed the most to empiricism
: How did clocks influence the world when they were introduced?Why was Descartes so important to the development of psychology? What did he contribute?In your opinion, who contributed the most to empiricism? Why?Which method of brain mapping do you bel..
|
What parts of the value chain has the focal organization
: What parts of the value chain has the focal organization outsourced? Do you consider the functions outsourced by the focal organization are consistent with your value chain analysis and the analysis of resources, capabilities and core competencies
|
Compute the total net income for 2011 and 2012
: Assume that Seagul chose not to treat the warranty costs as contingent losses. Instead, it chose to expense warranty costs as they were paid. Compute the total net income for 2011 and 2012 for each of the two accounting treatments.
|