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1) Rocco wants to prepare the sales forecast for the next 24 months today. His company produces heavy-duty on/off timers used by large Christmas light displays and above ground swimming pool filters. He wants to use regression analysis to predict monthly sales volume based on the past 24 months. Is his plan sound? Why/Why Not? Advise Rocco on his plan and make suggestions as to what techniques from this course might improve his forecasting.
2) What activities would be included in the value added time of fast food hamburger preparation and delivery? Why are these part of the Value Added Time?
3) Bruce is in charge of a production area for a company that makes small personal aircraft. He is working late on a monthly forecast for landing gear assemblies. He has decided to use exponential smoothing and last year's landing gear production numbers to forecast demand for the next three years. Is he on the right track? Why/Why Not? Explain.
In selecting outside advisors, a board, consultants, and the like, what are the most important criteria?
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In designing the "marketing strategy" for your own business, how might you use "segmentation variables" to help you identify your "target market"?
Discuss the Chaos Theory (Be sure to read the lectures concerning this theory, as well as go through the additional links) in relation to the health care system today. In addition,
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discuss the advisability using modular assemblies in manufacturing or what are the advantages and disadvantages?
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