Forecasting adn Time Series Anlaysis, Operation Management

Assignment Help:
To answer Question 1:
Use the forecasting module that you opened in the POM-QM for Windows software to solve the Southwestern University case study at the end of Chapter 4 of the Heizer and Render (2014) textbook. For this case study, you are required to build a forecasting model. Assume a trend analysis (regression over time) forecasting model and build a model for each of the five games (five models in total) by using the forecasting module of the POM software. Answer the three Discussion questions given in the case study. Explain your reasoning or show your calculations.
Question 2
Print Page
• Launch the POM-QM for Windows software and from the main menu select Module and then Waiting lines.
Scenario: During registration at a university, an adviser must approve students’ course selections. It takes the adviser an average of 2.8 minutes (exponentially distributed) to approve each schedule, and students arrive at the adviser’s office at the rate of 20 per hour (Poisson distributed).
To answer Question 2:
Address the following using the POM software.
• Compute the average time a student spends in the waiting line. Students have complained to the registrar about the length of time they must wait to have their schedules approved. The registrar is considering several ways to reduce the waiting time.
• One way to reduce the waiting time is to assign some assistants to the adviser. Each assistant would reduce the average time required to approve a schedule by 0.2 minutes, down to a minimum of 1.0 minute. How many assistants should the registrar assign to the adviser if the registrar feels that a waiting time of ten minutes is not unreasonable?
• About one-fifth of the students identify their cases as routine. The advisor can serve these kinds of routine cases in one minute (with negligible variance). Hence, another way the registrar can reduce the waiting time is to provide an assistant to handle routine cases, while the advisor handles the non-routine cases. Do you find this option acceptable?
NOTE: I can send the attachment related to Q1

Related Discussions:- Forecasting adn Time Series Anlaysis

Describe how many bags per run are optimal, A chemical firm produces sodium...

A chemical firm produces sodium bisulfate in 100-pound bags. Demand for this product is 20 tons per day. The capacity for producing the product is 50 tons per day. Setup costs $100

Enterprise architecture process, The Enterprise Architecture process i...

The Enterprise Architecture process is one of a number of Information System management processes that occur simultaneously within a large financial services institution

What is really being marketed in golf equipment, What is really being marke...

What is really being marketed (want satisfied), and who is the target market? 1. Golf equipment 2. College textbook 3. Beauty salon 4. Mouthwash

Explain steps involved in organisation design, Explain steps involved in Or...

Explain steps involved in Organisation Design. The steps involved are:- (i) Formulate and understand the objectives and goals of the organisation and the nature of business

Explain what is the roic, (Oscar's Office Building) Oscar is considering ge...

(Oscar's Office Building) Oscar is considering getting into the real estate business. He's looking at buying an existing office building for $1.8 million in cash. He wants to estim

Introduction of operation management, Operations management is the manageme...

Operations management is the management of the productive resources of the firm which includes raw materials, human resources, land, equipment and facilities in the manufacture of

Explain stakeholders of a company are shareholders, Stakeholders of a compa...

Stakeholders of a company are shareholders, the community, customers, employees, and all of the other parties that have an interest in seeing that the company succeeds. True False

Explain the local publix grocery has five regular lanes, The local Publix G...

The local Publix Grocery has five regular lanes and one express lane (12 items or less only). Based on a sampling study, it takes 11 minutes on the average for a customer to go thr

Explain step of customer needs and expectations, Beginning with the step of...

Beginning with the step of customer needs and expectations (expected quality), identify and describe the remaining steps in the customer-driven quality life cycle. (Hint: drawing a

Explain intermediate values are equally likely, Northwest airlines runs dai...

Northwest airlines runs daily flights from Detroit to Amsterdam. They face a fixed cost of $70,000 for each flight independent of the actual number of passengers on the plane. Ther

Write Your Message!

Captcha
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