Adjusted forecast to predict demand for packaged tours

Assignment Help Operation Management
Reference no: EM131234503

The manager of a travel agency has been using a seasonally adjusted forecast to predict demand for packaged tours. The actual and predicted values are as follows: Period Demand Predicted 1 129 117 2 194 200 3 164 150 4 91 100 5 84 80 6 132 142 7 126 128 8 133 124 9 95 102 10 149 150 11 109 94 12 85 82 13 129 140 14 134 128 a. Compute MAD for the fifth period, then update it period by period using exponential smoothing with α = .1. (Round your intermediate calculations and final answers to 3 decimal places.) t Period A Demand MADt 1 129 2 194 3 164 4 91 5 84 6 132 7 126 8 133 9 95 10 149 11 109 12 85 13 129 14 134 b. Compute a tracking signal for periods 5 through 14 using the initial and updated MADs. (Negative values should be indicated by a minus sign. Round your intermediate calculations and final answers to 3 decimal places.) t Period A Demand Tracking Signal 1 129 2 194 3 164 4 91 5 84 6 132 7 126 8 133 9 95 10 149 11 109 12 85 13 129 14 134

Reference no: EM131234503

Questions Cloud

Affinity diagrams and interrelationship diagraphs : Consider that you/your group works for Vic & Anthony’s (a premier steakhouse restaurant) and you have been tasked with perfecting the “customer experience.” In the Analyze phase of your Lean Six Sigma project, you decide to brainstorm ideas for why c..
Self-esteem and social esteem : Two friends who have just completed an organizational behavior course at another college inform you that employees must fulfill their need for self-esteem and social esteem before they can reach their full potential through self-actualization. What t..
Impacted job security and workplace seniority : Describe how NLRB rulings have impacted job security and workplace seniority?
Basic description of oxygen : Give the basic description (shipping description) of oxygen that DOT requires shippers and carriers to enter on a shipping paper, when a chemical company offers it in each of the following states of matter for shipment by motor van:
Adjusted forecast to predict demand for packaged tours : The manager of a travel agency has been using a seasonally adjusted forecast to predict demand for packaged tours. The actual and predicted values are as follows: Period Demand Predicted 1 129 117 2 194 200 3 164 150 4 91 100 5 84 80 6 132 142 7 126 ..
What percentage of variation is explained by regression line : The following data were collected during a study of consumer buying patterns: Observation x y Observation x y 1 20 70 8 16 75 2 21 79 9 17 72 3 38 86 10 17 71 4 32 86 11 27 90 5 48 93 12 19 93 6 46 95 13 38 94 7 28 79 b. Obtain a linear regression li..
Radio frequency inventory-linear trend equation : National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Sales (000)Units Feb. 17 Mar. 18 Apr. 11 May. 22 Jun. 19 Jul. 21 Aug. 22 b. Forecast September sales volume using each of the fol..
Whole foods market performing from strategic perspective : How well is Whole Foods Market performing from a strategic perspective? Does Whole Foods enjoy a competitive advantage over its 3 chief rivals-Wild Oats, Fresh Market and Trader Joe's?
Obtain the linear trend equation : Obtain the linear trend equation for the following data on new checking accounts at Fair Savings Bank and use it to predict expected new checking accounts for periods 16 through 19. What is the forecast for period 16? Then compute all remaining value..

Reviews

Write a Review

Operation Management Questions & Answers

  Discuss the organisational fit of the procurement function

Discuss the organisational fit of the procurement function within three different cases - A project based organisation with project-based procurement

  Assume lot-for-lot ordering-net material requirements plan

Heather Adams, production manager for a Colorado exercise equipment manufacturer, needs to schedule an order for 50 Ultimate Steppers, which are to be shipped in week 8. Subscripts indicate quantity required for each parent. Assume lot-for-lot orderi..

  Increased production volume leads to lower costs

Explain the process by which increased production volume leads to lower costs. Give an example from a real or hypothetical firm. Can this process apply to a service organization as well as a manufacturing one? If so, give an example. If not, explain ..

  Organizational structure depends on a variety of factors

Organizational structure depends on a variety of factors such as the number of employees in the organization, the speed at which decisions need to be made, the subjectivity of the business to rapid change, and the collaborative nature of the work.

  Why should a first-line supervisor understand

Why should a first-line supervisor understand the organization's objectives?

  Opposition to airline deregulation

Although it has been more than 3 decades since the passage of the U.S. Airline Deregulation Act of 1978, the effects and wisdom of deregulation are still debated. Present one argument in favor or in opposition to airline deregulation.

  Competitive advantage and effective value chain management

Provide Two (2) examples of companies that HAVE been successful in the integration of customer delight, profitability, competitive advantage and effective value chain management AND and Two (2) examples of companies that HAVE NOT been successful in t..

  The slack of a constraint multiplied by the shadow

Consider the following stateent: "The slack of a constraint multiplied by the shadow price associated with that constraint must equal zero."  Is this true or false?  Explain

  What will you do in order to score your promotion

You have been in company A for a 8 years and you just finished your bachlors and are due to a promotion. Your manager who was awaiting your degree completion resigns from the organization. The new manager is an outsider and he does not like you a lot..

  What types of interviewing techniques

What types of interviewing techniques might you also apply to your own potential interview with a future employer? How might thinking about the interview technique the employer might use better prepare you for the interview?

  Audit report for a hypothetical project

Create an audit report for a hypothetical project of your choosing. Be sure to include each of the six (6) minimum content requirements that should be included in an audit report.

  Activities is non value added

Which of the following activities is non value added?

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