What type of pattern exists in the data-what is the forecast

Assignment Help Operation Management

Reference no: EM131031001

For the Hawkins Company, the monthly percentages of all shipments received on time over the past 12 months are 80, 82, 84, 83, 83, 84, 85, 84, 82, 83, 84, and 83.

a. Construct a time series plot. What type of pattern exists in the data?

b. Compare a three-month moving average forecast with an exponential smoothing fore- cast for a a= 0.2. Which provides the better forecasts using MSE as the measure of model accuracy?

c. What is the forecast for next month?

Reference no: EM131031001

Questions Cloud

They go to the bank and have it notarized. : Lisa is walking down the street in January when she notices a young man named Denny. Denny looks a little worse for wear, so Lisa offers to buy him lunch. As they are talking, Denny says to Lisa: “I’m in a pretty rough spot. Lisa writes down all of t..

What is multifactor productivity associated with the process : In a manufacturing process, five workers could produce 60 units per hour. Labor costs are $15/hour, and material cost is $20/unit. Overhead is charged at 1.5 times direct labor cost. Finished units sell for $40 each. What is the multifactor productiv..

Recognition-merit-incentives-earning at risk : Please discuss, from the perspectives of employees, the major disadvantages of the four major forms of performance-based pay (recognition, merit, incentives, earning at risk). Explain your logic and please conduct research to support your findings

Pro and cons during a negotiation stalemate : As an American, how would you handle/manage a passive-aggressive negotiation with the Chinese? How can applying the above characteristics of American negotiators and the attached Chinese negotiations techniques become a pro and cons during a negotiat..

What type of pattern exists in the data-what is the forecast : For the Hawkins Company, the monthly percentages of all shipments received on time over the past 12 months are 80, 82, 84, 83, 83, 84, 85, 84, 82, 83, 84, and 83. Construct a time series plot. What type of pattern exists in the data? What is the fore..

Process is perfectly stable and its mean does not shift : In the chapter it was noted that when the process mean can shift by as much as 1.5 standard deviations, a Cp of 2.0 is needed in order to achieve 3.4 defective parts per million. What Cp is needed in order to achieve the same 3.4 defective parts per ..

Cost plus contractors with project organizations : It has been said that Earned Value Management (EVM) came about because the Federal Government often used “Cost plus” contractors with project organizations. Cost plus contracting allows the contractor to recover full project development costs plus ac..

What is the implied range of unit overage cost per washer : Demand for carpet washers at a Publix store in Gainesville is shown in the following: Demand (units/day) (0, 1, 2, 3, 4, 5) and Probability (0.25, 0.15, 0.20, 0.25, 0.10, 0.05) respectively. Assuming that Publix’s stocking decision is optimal, what i..

How would project manager use the cost performance index : How does earned value give a clearer picture of project schedule and cost status than a simple plan versus actual system? How would a project manager use the Cost Performance Index (CPI)?

User Account

All Pages