Different steps needed for proper decision making, Operation Management

Assignment Help:

Quesrion:

Oceania Hospitals has recorded demand for heart transplant surgery over the past few years. The data is given in the following table:

1772_Different steps needed for proper decision making.png

a) You have been hired as consultant to advise Oceania Hospitals. You are explaining to Oceania Hospitals the necessity of having an analytical and scientific framework with several systematic steps. Can you describe the different steps needed for proper decision making?

b) When Oceania Hospitals started operations 6 years ago a consultant has predicted that the demand in year 1 would be 41 surgeries. Use exponential to develop forecasts for years 2 through 6 with a constant of (i) 0.6 and (ii) 0.9

c) Use a 3-year moving average to forecast demands in years 4,5 and 6.

d) What smoothing constant would you choose to get results similar to the 3-year moving average?

e) Compute the MAD for each of the three methods above for years 1 to 5. Which method would you recommend?

f) What forecast will you make for year 6?


Related Discussions:- Different steps needed for proper decision making

Explain why champion the plaintiff is suing, Champion v.Dunfee case a) W...

Champion v.Dunfee case a) What happened in this case as to why Champion the plaintiff is suing? b) Who did Dunfee try to bring into the case and why? c.) As to the girlfri

Availability of labour and amenities, Availability of Labour and Amenities ...

Availability of Labour and Amenities Availability of Labour and skills: Certain geographical area has traditional skills but is very are that a location can be found which h

Define today''s transportation unions, Explain today's Transportation union...

Explain today's Transportation unions with examples (trucker, railway, plane).

Calculate the expected value of perfect information, A small building contr...

A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm's capacity. The contractor must now make a decision on capac

What are the three sequential operations, A manufacturing process consists ...

A manufacturing process consists of three sequential operations. At maximum capacity operation A can output 125 units per hour, Operation B can output 120 units per hour, and Opera

Project, I want to start my simulation modeling project but I dont how to s...

I want to start my simulation modeling project but I dont how to start. I already have the company to do about it is Tissue Manufacturing will you please assist

Explain characteristics of a mature group, Identify and discuss the four di...

Identify and discuss the four distinguishing characteristics of a mature (well-functioning) group. Give an example of a mature group you have participated in and the application of

Explain direct marketing association website, On the Direct Marketing Assoc...

On the Direct Marketing Association website, what is interesting, how can companies use the website, what information is surprising and why?

Explain advantages of budgets, Explain advantages of budgets. Advantag...

Explain advantages of budgets. Advantages of Budgets: (i) Actions plans and policy taken are all reflected into the budgetary control system. Now here is a formal recognit

Describe which organization provides that information, A union has just won...

A union has just won an election in your organization to represent the workers. You are now faced with negotiating a collective bargaining contract. Since you've never done this be

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd