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Rocco wants to prepare the sales forecast for the next 24 months today. His company produces heavy-duty on/off timers used by large Christmas light displays and above ground swimming pool filters. He wants to use regression analysis to predict monthly sales volume based on the past 24 months. Is his plan sound? Why/Why Not? Advise Rocco on his plan and make suggestions as to what techniques from this course might improve his forecasting.
a) Find the optimal order quantity and the reorder point. b) Find the average total relevant cost (setup cost, inventory holding cost and shortage cost)
Customers arrive at an automated coffee vending machine at a rate of 4 per minute, subsequent a Poisson distribution. Coffee machine dispenses a cup of coffee in exactly 10 seconds. Illustrate what is average number of people waiting in line.
Identify three aspects of managing and using performance data so that it is useful to the organization. Provide an example of each aspect.
Determine if and how these two trends have helped or hindered the growth of small business in the U.S.
Employee Champion and Change Agent. Some ideas for discussion -- Do the scores reflect high quality, low quality, or somewhere in between?
If the carnival has the option of hiring one or two repairers, which option should the company choose?
Garden Variety Flower Shop uses 750 clay pots a month. The pots are purchased at $2 each. Annual carrying cost per pot are estimated to be 30 percent of the cost and ordering costs are $20 per order
What is the probability that customers with tickets arrive and the ticket taker is not helping another patron and what is the probability that a traveler will pull up to the attendant's service window without having to wait for..
Will new competition for Redbox and digital content providers force blockbuster to alter its strategy? If yes, what are the offensive strategies for blockbuster?
Marketers traditionally classify products on the basis of characteristics: durability, tangibility, and use (consumer or industrial). Discuss the appropriate marketing-mix strategy for each product type by way of real-life examples.
Provide an example, either from your experience or using your imagination, that illustrates the four principal types of project termination.
In this economy customer service has become one of the keys to survival. Using the Internet, do some research about Wal-Mart and McDonald's and their approach to customer service.
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