For the data in exercise 14.4, use an a of 0.1 and a b of 0.2 to make a forecast for July and August. Calculate the MAD for your January through June forecasts.
Answer to relevant QuestionsPrepare a spreadsheet model for the Saturday hotel occupancy data in Table 14.3 , and recalculate the forecasts using an a of 0.3. What is the new MAD? Discuss the functions of inventory for different organizations in the supply chain (i.e., manufacturing, suppliers, distributors, and retailers). Identify dependent and independent demand for an airline and a hospital. The Gilbert Air Conditioning Company is considering purchase of a special shipment of portable air conditioners from Japan. Each unit will cost Gilbert $ 80 and be sold for $ 125. Gilbert does not want to carry over surplus ...Monthly demand for an inventory item is a normally distributed random variable with a mean of 20 units and a variance of 4. Demand follows this distribution every month, 12 months a year. When inventory reaches a ...
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