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The cafeteria supervisor at CarWash is interested in developing a forecast model for the number of meals to be prepared each day. The following daily data from the cafeteria's register were collected. Using the data, the supervisor had already computed forecast values using a regression model. However, s/he would like to assess the regression model's accuracy to a base model called "exponential smoothing."
WORKING AREA FOR THE PROBLEMExponential RegressionDay Meals Forecast Error Forecast Error1 37 36.942 40 38.663 41 40.384 37 42.115 45 43.836 50 45.557 43 47.288 47 49.009 56 50.7310 52 52.4511 55 54.1712 54 55.90
assume now that CarWash had been using the regression model in forecasting. What would you conclude about its performance? Show details for updated MAD calculations, at least for three periods. Use action limits that correspond to 3s control limits, and plot the corresponding tracking signal values. (HINT: 1sigma = 1.25 MAD, action limit is plus and minus and counts for how many MAD we have in specified number of sigma.)
You have conducted a zone of tolerance analysis for a local car wash. You find that the length of the reliability and responsiveness boxes are much greater than those of the other three service quality dimensions.
Illustrate what is the logic in the least squares method of linear regression analysis. Overall the logic of least squares method is used to forecast the next quarterly sales of the organization.
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Imagine you are the marketing manager responsible for developing marketing strategy for a bicycle company. Propose the strategic marketing process you will use being sure the name the stages, the activities included in the stages and stage specifi..
Past history says which tomorrow's demand for lettuce averages 250 boxes with a standard deviation of 34 boxes. Elucidate how many boxes of lettuce should supermarket purchase tomorrow.
Using random numbers of 0.1567, 0.9823, 0.3419, and 0.5572 also 0.7758 complete time requisite d for each of five simulated maintenance checks of airplane's landing gear.
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Explain how many tires should Rocky Mountain order each time it places an order. Assuming Rocky Mountain Tire Center orders (answer from above) tires per order, illustrate what is total annual cost.
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What cycle time is required to satisfy the required output? What is the theoretical minimum number of stations?
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