Exam 6: Demand Management, Forecasting, and Aggregate Planning

A company has the data shown in the chart below concerning its forecast performance over the past five time periods. -Calculate the absolute percentage error for Period 1.

A well-educated lumberjack decides to use linear regression to predict the demand for firewood based on the ambient temperature. He has collected data on firewood sales and temperature for the last several days and has performed some preliminary calculations as shown in the table. -Sampson and Delilah advertising company is interested in an appropriate mix of print, radio, and television ads for their new client. Steven Nash performs a multiple regression on the effects of dollars spent on each type of media on dollars of sales of product. Nash uses data from the most recent advertising campaigns and develops the following equation: Y = 254,215 + 6.79 * Print - 1.4 * Radio + 16.87 *Television The r-squared statistic is 0.77. Which of the following statements is BEST?

A company has the data shown in the chart below concerning its forecast performance over the past five time periods. -Calculate the actual demand for Period 5.

A well-educated lumberjack decides to use linear regression to predict the demand for firewood based on the ambient temperature. He has collected data on firewood sales and temperature for the last several days and has performed some preliminary calculations as shown in the table. -What is his regression equation based on the data?

-For Plutonium Courtyard Hotel in Wendover, Saturday is the best day of the week for business. The gambling take for the hotel on Saturdays over the past four weeks was as follows: Plutonium Courtyard uses a three-period weighted moving average to forecast demand, with w_t = 0.6, w_t-1 = 0.3, and w_t-2 = 0.1. What is the forecast for Week 5?

Humboldt Corporation is preparing an aggregate production plan for fasteners for the next four quarters. The company's expected quarterly demand is given in the following table. The company will have 1,000 fasteners in inventory at the beginning of the year and wishes to maintain at least that number at the end of each quarter. Following is other critical data: Production cost per unit = $250 Inventory carrying cost per quarter per unit = $10 (based on quarter-ending inventory) Hiring cost per worker = $1,000 Firing cost per worker = $2,000 Beginning number of workers = 10 Each worker can produce 100 units per quarter. Any worker on the staff at the end of the year will not be fired at that time. -Given the above information, what is the total cost of a level plan?

-Calculate the four-period moving average for Period 5.

-Calculate the three-period weighted moving average for Period 5 using the weights, w_t = 0.5, w_t-1 = 0.2, w_t-2 = 0.2 and w_t-3 = 0.1

A company has the data shown in the chart below concerning its forecast performance over the past five time periods. -Calculate the mean absolute percentage error (MAPE).

A well-educated lumberjack decides to use linear regression to predict the demand for firewood based on the ambient temperature. He has collected data on firewood sales and temperature for the last several days and has performed some preliminary calculations as shown in the table. -Determine the regression equation based on the data. What is the sample correlation coefficient (R) for the regression equation?

A company has the data shown in the chart below concerning its forecast performance over the past five time periods. -Calculate the tracking signal for Period 1 (TS = RSFE / MAD)

A company has the information shown in the chart below regarding its forecast performance in the past three periods. -Calculate the running sum of forecast error (RSFE) that provides a measure of forecast bias.

Given the series of demand data below -Calculate the running sum of forecast error (RSFE) for n = 2 (two-period moving average) between Weeks 7 and 10.

A company has the data shown in the chart below concerning its forecast performance over the past five time periods. -Calculate the mean absolute deviation (MAD).

A firm's demand data from the last two quarters is displayed in the table. -If last period's forecast was 27, and the actual demand was 30, what was the forecast error?

Given the series of demand data below -What is the two-period moving-average forecast for Week 9?

-Over a six-month period, the demand for a product has been as follows: January = 200, February = 210, March = 240, April = 240, May = 260, and June = 280. The five-month moving average forecast for July is _______.

Given the series of demand data below -What is the six-period moving-average forecast for Week 10?

Given the series of demand data below -Calculate the mean absolute deviation (MAD) for n = 4 (four-period moving average) between Weeks 7 and 10.

A firm's demand data from the last two quarters is displayed in the table. -What is the three-period moving average for January's demand?