Operations management chapter 13 problem 4

Operations Management Chapter 13 Problem 4

Problem #4 a-e

Sales for the past 12 months at Dalworth Company are given here.

Month Sales($ Millions) Month Sales ($Millions)
January 20 July 53
February 24 August 62
March 27 September 54
April 31 October 36
May 37 November 32
June 47 December 29

Consider the sales data for Dalworth Company given in problem 2.

a) Use a three-month weighted moving average to forecast the sales for the months April through December. Use weights of (3/6), (2/6), and (1/6), giving more weight to more recent data.

b) Use exponential smoothing with a =0.6 to forecast the sales for the months April through December. Assume that the initial forecast for January was $22 million. Start error measurement in April.

c) Compare the performance of the two methods by using the mean absolute deviation as the performance criterion, with error measurement beginning in April. Which method would you recommend?

d) Compare the performance of the two methods by using the mean absolute percent error as the performance criterion, with error measurement beginning in April. Which method would you recommend?

e) Compare the performance of the two methods by using the mean squared error as the performance criterion, with error measurement beginning in April. Which method would you recommend?

 

 

 

 

 

 

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

STAY HOME, SAVE LIVES. Order your essay today and save 20% with the discount code ATOM