Question: 4. In the same context of the previous question, Instead of using exponential smooth- ing, the store manager decides to use an advanced machine learning

4. In the same context of the previous question,

4. In the same context of the previous question, Instead of using exponential smooth- ing, the store manager decides to use an advanced machine learning model that reduces the standard deviation of the forecast for Week 3 significantly. (The expected forecasted demand is still 500 T-Shirts.) He then computes a new order quantity. Which of the following statements is true of the store manager's new order quantity? (i) The safety stock portion of the order quantity will decrease (ii) The overall order quantity will decrease (iii) The procurement cost for this order quantity will decrease (iv) The average inventory in the store during Week 3 will decrease a. Only (i) b. Both (i) and (ii) c. (i), (ii) and (iii) d. All of the Above 5. According to Little's Law, a restaurant owner may increase the revenue by A. Reducing the throughput rate B. Having larger space and higher WIP C. Having smaller space and lower WIP D. Increasing the time customers staying in the restaurant E. None of the above

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