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A rental car manager estimates the number of full-size sedans rented per week so that she can maintain adequate number of cars in the lot. Data for the past 10 weeks are shown here Rentals Week Rentals 1 23 2 24 3 32 4 26 5 31 6 28 7 32 8 35 9 26 10 24 a) Prepare a forecast through week 11 by using a five –week moving average b) Prepare a forecast through week 11 by using a 3-period weighted moving average, giving the weight of 0.5 to the most recent week, 0.3 to the second week and 0.2 to the third week. c) Prepare a forecast using exponential smoothing method with α = 0.2. Forecast for week 1 was 22. Prepare a forecast through week 11 by using a regression model Y= 26.33 + 0.3212X d) Which method is preferred for this data if mean absolute deviation (MAD) is used? e) Make a recommendation for number of full-size sedans for a week.
What are the advantages/disadvantages of conventional budgeting versus zero-based budgeting. Is one more useful during economic downturns? During economic upturns?
There are two separate companies who are neighbors. Company 1 sells products and company 2 manufacturers the products that Company 1 sells to the market. Both are in the same industry. Both Company’s office hours are Monday through Friday. With no do..
Spartan castings must implement a manufacturing process that reduces the amount of particulates emitted into the atmosphere. Two processes have been identified that provide the same level of particulate reduction.
Flyby night Airlines measured their numbers of lost bags in one month and found that they had lost 130 bags for 10,000 customers. If the average number of bags per customer is 1.3, how many errors per million opportunities (epmo) does this represent?
Joe is considering installing solar panels on the roof of his home, in Sun City, Arizona. If he goes forward, he will pay the installation firm but will save money on its electric bill. Draw an influence diagram. Now suppose that another uncertainty ..
Personal mastery is knowing and doing what is important to you. Personal mastery can be thought of as approaching one’s life as a creative work, living life from a creative as opposed to reactive viewpoint; this comes when one is doing what is import..
The Early Evolution of Manufacturing Firms: Ford Motor Company Goes International (USA) Ford Motor Company has been in business for over 100 years and when it comes to a global mindset, Ford is ahead of most of its competitors, although this was not ..
A manufacturer's average work-in-process inventory for Part # 3429 is 900 parts. The workstation produces parts at the rate of 150 per day. What is the average time a part spends in this workstation?
Explain how strategic human resource management can help an organization gain a competitive advantage. Explain what the changing social contract between organizations and employees means for workers and human resource managers.
Imagine you are a marketing consultant brought in to help a company who has a product that is so successful they cannot keep up with customer demand.
Discuss the issues in management development that are "nice to address" and which are "must address" issues. Justify your response.
You have been asked to develop a short presentation on comparing and contrasting operations management to supply chain management.
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