Question: Continuing form the problem # 1 BMT Company produces different types of rivet slugs for aircraft manufacturing companies. Highest demand of rivet slugs for the

Continuing form the problem # 1 BMT Company

Continuing form the problem # 1 BMT Company produces different types of rivet slugs for aircraft manufacturing companies. Highest demand of rivet slugs for the body of regular aircraft is known as skin slug." Demands for skin slugs (in 104 units) over last 6 months (2021) are given as follow: Month April 2021 May 2021 June 2021 July 2021 August 2021 650 September 2021 750 Demand 450 400 550 600 a) Based on the nature of the values determined as the trend values in the adjusted exponential smoothing technique for forecasting in problem-1, the industrial engineer of BMT Co. decided to use linear trend technique for forecasting. From October 1, 2021 to the COB 10/13/2021, the BMT Co. sold 5,700,000 skin slugs. Utilizing linear trend forecasting method, how many more skin slugs BMT Co. expects to sell for the rest of October, 2021? b) Was he/she correct on the decision for utilizing the linear trend forecasting technique for this set of historical sales values? Justify your answer with references from problem-1 and problem-2(a). c) With 99% confidence, what would be the range of expected number of skin slug sales for the month of October 2021? d) Based on the answers in parts: a and b, is it possible to forecast for the month of November 2021? e) Continuing from part-d, if your answer is yes, then forecast for the month of November 2021. If your answer is no, then forecast for the month of November 2021 using any appropriate technique discussed during the class. f) With 90% confidence, what would be the range of expected number of skin slug sales for the month of November 2021? Note: This manufacturing company uses mean absolute deviation (MAD) as a tool for justifying and utilizing a specific technique and a set of parameters. Continuing form the problem # 1 BMT Company produces different types of rivet slugs for aircraft manufacturing companies. Highest demand of rivet slugs for the body of regular aircraft is known as skin slug." Demands for skin slugs (in 104 units) over last 6 months (2021) are given as follow: Month April 2021 May 2021 June 2021 July 2021 August 2021 650 September 2021 750 Demand 450 400 550 600 a) Based on the nature of the values determined as the trend values in the adjusted exponential smoothing technique for forecasting in problem-1, the industrial engineer of BMT Co. decided to use linear trend technique for forecasting. From October 1, 2021 to the COB 10/13/2021, the BMT Co. sold 5,700,000 skin slugs. Utilizing linear trend forecasting method, how many more skin slugs BMT Co. expects to sell for the rest of October, 2021? b) Was he/she correct on the decision for utilizing the linear trend forecasting technique for this set of historical sales values? Justify your answer with references from problem-1 and problem-2(a). c) With 99% confidence, what would be the range of expected number of skin slug sales for the month of October 2021? d) Based on the answers in parts: a and b, is it possible to forecast for the month of November 2021? e) Continuing from part-d, if your answer is yes, then forecast for the month of November 2021. If your answer is no, then forecast for the month of November 2021 using any appropriate technique discussed during the class. f) With 90% confidence, what would be the range of expected number of skin slug sales for the month of November 2021? Note: This manufacturing company uses mean absolute deviation (MAD) as a tool for justifying and utilizing a specific technique and a set of parameters

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