Considering the trend and seasonality

Assignment Help Operation Management

Reference no: EM131034520

A tourist center is open in Spring, Summer, Fall, Winter. The owner-manager hopes to improve scheduling of full-time employees by determining seasonal relatives for each of these seasons. Data on recent traffic at the center have been tabulated and are shown in the following table:

Year 2014 2015

Spring 24 28

Summer 20 22

Fall 16 19

Winter 13 15

Using the depersonalized data, it is observed that the demand is linearly increasing with time. The fitted trend line formulation is F(t) = 16.8+0.7t, where t=1 represents the Spring ’14. What would be your forecast for Spring ’16 considering the trend and seasonality? Show your work.

Reference no: EM131034520

Questions Cloud

Overall production with emphasis on utilization-efficiency : You are the production manager of a company that makes baseball caps and your work center consists of 10 machines that operates 40 hours a week. In a 4-week period (normally 22 days) it actually worked 440 hours and produced 540 standard hours of wor..

Provide supporting information about your action plan : One-Page Action Plan: The written portion of the paper is to include one-two paragraphs that provide supporting information about your action plan and how it will be used. For the one-page action plan, you are to create a learning and development pla..

Calculate the utilization efficiency of the work center : You are the production manager of a company that makes baseball caps and your work center consists of 10 machines that operate 40 hours a week. In a 4-week period (normally 22 days) it actually worked 440 hours and produced 540 standard hours of work..

Capacity of a bottleneck operation by adding new machine : A small firm intends to increase the capacity of a bottleneck operation by adding a new machine. Two alternatives, A and B, have been identified, and the associated costs and revenues have been estimated. Annual fixed costs would be $14,000 for A and..

Considering the trend and seasonality : A tourist center is open in Spring, Summer, Fall, Winter. The owner-manager hopes to improve scheduling of full-time employees by determining seasonal relatives for each of these seasons. Using the depersonalized data, it is observed that the demand ..

Poisson and exponential distributions appear to be relevant : Calls arrive at Lynn Fish's hotel switchboard at the rate of 2 per minute. The average time to handle each is 20 seconds. There is only one operator at the current time. What is the average time that a customer must wait before reaching the operator?..

Calculate seasonal relatives-centered moving average method : A tourist center is open in Spring, Summer, Fall, Winter. The owner-manager hopes to improve scheduling of full-time employees by determining seasonal relatives for each of these seasons. Data on recent traffic at the center have been tabulated and a..

Conventional budgeting versus zero-based budgeting : What are the advantages/disadvantages of conventional budgeting versus zero-based budgeting. Is one more useful during economic downturns? During economic upturns?

Two different forecasting techniques : Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: Using (at least) one of the metrics we have seen in class, identify the forecast tha..

User Account

All Pages