What is basic naive method, Operation Management

Assignment Help:

1. The monthly sales for Telco Batteries, Inc., were as follows: Month Sales

Jan 20

Feb 21

Mar 15

Apr 14

May 13

Jun 16

Jul 17

Aug 18

Sep 20

Oct 20

Nov 21

Dec 23

a. Plot the monthly sales data on a sheet of graph paper.

b. Forecast January sales for the new year using each of the following:

1) Basic naïve method.

2) A 3-month moving average.

3) A 6-month weighted moving average using 0.1, 0.1, 0.1, 0.2, 0.2, 0.3, with the heaviest weights applied to the most recent months.

4) Exponential smoothing using a smoothing constant of 0.3 and a September forecast of 18 (note that you must compute forecasts for Oct, Nov, and Dec before computing the one for January).

5) A trend projection using the least squares method c. With the data given,which method would allow you to forecast next March's sales?


Related Discussions:- What is basic naive method

Explain what is the forecast error, The numbers of patient arrivals to the ...

The numbers of patient arrivals to the ER department at a local hospital for the past 5 weeks are: week: 1 , 2 , 3 , 4 , 5 arrivals: 405 ,420 , 400 , 380 , 411 a) Compute a three-w

Describe the leadership style, Discuss the leadership style, visionary, coa...

Discuss the leadership style, visionary, coaching or afflictive, that would be the best in the given situation below and provide support for your choice. 1) A non-profit agency wis

Total operation system, critically discuss the total operation system, poli...

critically discuss the total operation system, policies and practices of an organization

Describe the role of the federal reserve system, 1. Why is some knowledge o...

1. Why is some knowledge of accounting necessary to succeed in business? Provide examples. 2. Name some of the major stock exchanges where securities are traded. Describe the ch

Explain what is the multifactor productivity for each system, A grocery cha...

A grocery chain is considering the installation of a set of 4 self-checkout lanes. The new self-checkout lane setup will replace 2 old cashier lanes that were staffed by a cashier

Describe the impact that batch size has on flow, Explain the impact that ba...

Explain the impact that batch size has on flow. Explain why the EOQ formula works.

Network construction, The following table lists a set of nine activities wi...

The following table lists a set of nine activities with their sequence requirements and estimated activity times.A,B,C,D,E,F,G,H

Explain implementation of tqm, Why is a system view so important to have if...

Why is a system view so important to have if you are going to implement TQM?

Explain unique security challenges, Malpass International has been reliant ...

Malpass International has been reliant on a legacy human resource management database for the past 12 years. Now, senior management has approved funds for a complete replacement. T

Write an essay on porter''s five forces industries, Give an essay on Porter...

Give an essay on Porter's 5 forces industries (the auto or shoe industry) A 75 to 100 words/references.

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