What is basic naive method, Operation Management

Assignment Help:

1. The monthly sales for Telco Batteries, Inc., were as follows: Month Sales

Jan 20

Feb 21

Mar 15

Apr 14

May 13

Jun 16

Jul 17

Aug 18

Sep 20

Oct 20

Nov 21

Dec 23

a. Plot the monthly sales data on a sheet of graph paper.

b. Forecast January sales for the new year using each of the following:

1) Basic naïve method.

2) A 3-month moving average.

3) A 6-month weighted moving average using 0.1, 0.1, 0.1, 0.2, 0.2, 0.3, with the heaviest weights applied to the most recent months.

4) Exponential smoothing using a smoothing constant of 0.3 and a September forecast of 18 (note that you must compute forecasts for Oct, Nov, and Dec before computing the one for January).

5) A trend projection using the least squares method c. With the data given,which method would allow you to forecast next March's sales?


Related Discussions:- What is basic naive method

Explain biggest challenges are to a hpt professional, What do you think the...

What do you think the biggest challenges are to a HPT professional in the Analysis phase of a project? Why?

What are the possible to use a ti-84 calculator, To test H0: p=.35 versus h...

To test H0: p=.35 versus h1:p Please let me know if it is possible to use a ti-84 calculator ? = Power =

Process adjustment and process capability, Process Adjustment and Process C...

Process Adjustment and Process Capability Process adjustment In the event of the process veering towards non-conformance as a result of variables which are not inherent t

Airline implementing a policy that need to buy second seat, Answer the foll...

Answer the following questions: 1. what are the pros and cons of an airline implementing a policy that heavier customers need to buy a second seat? Research an airline and provide

Explain improving productivity, Explain Improving Productivity. Improv...

Explain Improving Productivity. Improving Productivity: The production essence is creation of goods, may be by the transformation of raw materials or through assembling vario

Oregon productivity matrix - performance measures, Oregon Productivity Matr...

Oregon Productivity Matrix - Performance Measures The Oregon productivity matrix (OPM) was developed in Oregon State University in 1986 and measures accomplishments against go

Explain leadership styles associated with path-goal theory, Identify four l...

Identify four leadership styles associated with path-goal theory. Explain each style and relate it to styles described in other theories. Can leaders exhibit more than one style?

Find the total cost of ordering and carrying semiprecious, 1. A jewelry fir...

1. A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier charges $20 per stone, annual carrying costs are 50%, and the cost of processing orders is $40.

Explain violated the confidentiality agreement, Paranzino claims she deposi...

Paranzino claims she deposit $200,000 in a bank but was given a receipt for only $100,000, but she did not notice the mistake until later. She sued the bank, but attended court ord

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