Simulation problems/ templates for Chapter 14, Management Science text by Bernard W. Taylor III. Chapter 15 ( Forecasting) problems: Q1……..Use template 15-2 ( file attached): The manager of carpet City….has collected the following demand data for the past 8 months: Month Demand for Soft Shag carpet( 1,000yd) 1 8 2 12 3 7 4 9 5 15 6 11 7 10 8 12 a) compute a 3- month moving average for months 4 through 9. b) compute a weighted 3-month moving average forecast for months 4 through 9. Assign weights .55, .33, and .12 to the months in sequence, starting with the most recent month. c) compare the two forecasts by using MAD. Which forecast appears to be more accurate?
Q2…….Problem 6aWhat is the exponentially smoothed MAPD?) for the following data from Petroco Service Station:
Month Gasoline Demanded( gal) Oct 870 Nov 725 Dec 630 jan 500 Feb 645 mar 690 April 730 May 810 June 1200 July 980
Q3) Problem 26 a, ( what is the forecast if 30 permits are filed?): 26b (What is the correlation coefficient?) and 26c (What is the forecast for temperature of 85 degrees?)
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