Manufacturing operation , Operation Research

Assignment Help:

You are a manager at a medium sized manufacturing operation that sells a customized product directly to the consumers and the data pattern is linear but it can have the occasion randomness. The causes of this randomness are never apparent until after the event.

 

As manager, you are to complete a corporate forecast for this expensive and customized product that trends generally with the present economic situation.

Requirement 1

Do the corporate forecast for this product using the data below to complete a 3 and 5 year weighted averages for the next year. For the judgmental forecasting component use the present economic situation.

 

Time Period

Historical Demand

1

456

2

399

3

712

4

498

5

487

6

567

7

450

 

Question:

What method is best here?  Moving Average or Exponential Smoothing?

What is weighted average?

 


Related Discussions:- Manufacturing operation

Assignment problem, Six Operators are to be assigned to five jobs with the ...

Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment

requirements and characteristics of a good table , Requirements and Charac...

Requirements and Characteristics of a good table In the words  of Mr. Harry Jerome a good statistical table  is a triumph of ingenuity and  technique masterpiece of economy  o

Discuss the basic components of any queueing system, Question: (a) Disc...

Question: (a) Discuss briefly the four basic components of any queueing system. (b) Explain what you understand by the following models: (i) (M| M | 1 : N | FCFS) (ii

Short question, write down any two assumption of L.P

write down any two assumption of L.P

Simple random sampling - sampling decisions, Simple Random Sampling  ...

Simple Random Sampling  This  is  simplest  and most  popular  technique  of sampling. In it each  unit  of the  population has equal  chance  of being  included in the samp

Types of correlation - correlation & regression analysis, Types of Correlat...

Types of Correlation 1. Positive Correlation : When the values  of two variables move  in the  same direction .e.  when an increase in  the values  of one  variables  is ass

Basis of scientific methods, The scientific methods is based on certain...

The scientific methods is based on certain article of path these are: 1. Reliance on Evidence: Truth is established on the basis of evidence. Conclusion is admitted onl

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