Question: 3 6 4 8 7 4 6. a) The two operations managers of a plastics firm have the responsibility 003 of scheduling Intermittent production runs

3 6 4 8 7 4 6. a) The two operations managers of

3 6 4 8 7 4 6. a) The two operations managers of a plastics firm have the responsibility 003 of scheduling Intermittent production runs of various grades of plastic pipe so as to maintain factory inventories at specified levels. They have formulated their own index from published construction and employment data which they feel may be useful in anticipating demand (tons) of class 160-PVC pipe. Index 625 Demand (in tons) 10 1) Compute the regression equation. Determine the forecast values when index values are 7 and 8. iii) Find the standard error estimate. iv) Find correlation coefficient. b) The moving average forecast and actual demand for a hospital drug CO3 (o are shown in the accompanying table. Compute the tracking signal and comment on the forecast accuracy. Month 1 2. 3 4 5 Actual Demand 71 80 101 84 60 73 Forecast Demand 78 75 83 88 85 Acceptable range for tracking signal values are from 4 to 8 7 w 84 TAIT YI

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