Complete Two management of science and operations worksheets
Complete Two management of science and operations worksheets
paper instructions
Assignment Instructions
Follow instructions carefully. Otherwise your grade will be affected
You can discuss the questions with colleagues. But you are not allowed to share your work.
Alike assignments will earn a grade of 0 first time.
Alike assignments will lead to an F in the course second time.
Previous semester assignments will earn a grade of 0 first time.
Previous semester assignments will lead to an F in the course second time.
Sources and Plagiarism
Cite your sources (i.e., websites, books, magazines, etc.)
Answers without sources will not earn grade.
Plagiarism: To use the same words as your source.
Plagiarism leads to a 0 in the assignment. No matter if it is only a sentence.
Be organized and professional.
Consistent formatting is expected (Line spacing, margins, fonts, numbering, etc.)
Poorly presented assignments will lose up to 20% because of presentation.
Answers without proper support will not earn any grade.
Include calculations when necessary.
Refer to appendixes when explaining your answer.
Question/answer examples
Example 1: How many Daejo leaders are located in the state of Texas?
Unacceptable answer: 9.
Acceptable answer: Currently there are 9 dealers in the state of Texas.
Note: Answers need to be presented in a professional and nice fashion.
Example 2: One of the best sellers at a paint store is an Iron-coat paint. The annual demand is forecasted as 10,000 gallons. The carrying cost is $0.75 per gallon. The ordering cost is $150 per order. How much paint should be ordered each time?
Unacceptable answer: 2000.
Acceptable answer: The paint store should order 2,000 gallons each time. Calculations below show how the answer was obtained:
Note: Answer is professionally presented. Calculation details are shown using Microsoft equation editor.
Assignment 5
Answer all questions. Show all your work to earn credit.
- [20 points] Discuss some forecasting issues that you encounter in your daily life. How do you make your forecasts? (minimum 200 words).
- [20 points] A general manager in a restaurant wants your help to plan for the next year. The manager asked whether they can use time series forecasting models of regression-based forecasting modes. Write a memorandum explaining the difference between two methods. Also discuss which method should be used in the restaurant and providing reasons. (min. 200 words)
- [20 points] Following table shows the sales data of new satellite tv services by an agent of last 6 months.
Month | 1 | 2 | 3 | 4 | 5 | 6 |
Sales | 19 | 21 | 22 | 24 | 23 | 26 |
- Calculate the forecast sales for month 7 using four-month moving average [5 points]
- If the weights for last three months are 0.5, 0.3, and 0.2 (0.5 being for the most recent), forecast sales the weighted moving average for months 7? [5 points]
- If the actual sales for month 7 is 28, calculate the error for each method (MA and WMA) for months 7. [5 points]
- Which method is better? Explain why. [5 points]
- [20 points] Sales data of Travel Mugs in a store is as follows:
Month | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct |
Actual Sales | 1623 | 1533 | 1455 | 1386 | 1209 | 1348 | 1581 | 1332 |
The managers are trying to choose a good forecasting model for forecasting the demand. They are considering Single Exponential Smoothening (SES) method as the forecasting model. One manager suggested that α value should be 0.2 and another experienced manager suggested that α value should be 0.5. They decided to test the α values by comparing the mean square error for each α value.
Help the managers to decide α value is better for SES model. Show all calculations.
(A non-analytical discussion is not acceptable as the answer).
- [20 points] Crossroad Inn is a small bed-and-breakfast inn. It also has a restaurant, which serves the guests of the inn. Due to poor forecasting, the restaurant is losing money on food inventory. The general manager seeks a better way to forecast the demand for restaurant patrons and belies that the demand of patrons is related to advertising expenditures. The following are number of patrons and advertising data for the past 7 months.
Month | Patrons | Advertising (Thousands of $) |
1 | 564 | 2.6 |
2 | 418 | 1.3 |
3 | 463 | 1.4 |
4 | 402 | 1 |
5 | 501 | 2 |
6 | 534 | 2.1 |
7 | 484 | 1.7 |
- Develop a simple linear regression model that relates advertising cost to number of patrons.
- The manager has decided to spend $2,750 next month (8th month) on advertising. Use linear regression model and forecast the number of patrons for next month.
Do you have a similar assignment and would want someone to complete it for you? Click on the ORDER NOW option to get instant services at essayloop.com
Our Advantages
- Quality Work
- Unlimited Revisions
- Affordable Pricing
- 24/7 Support
- Fast Delivery
Order Now
Get 20% Discount
Get 20% off on your first order