Joanna is currently working a total of 8 hours per day to produce 280 dolls. She...

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Joanna is currently working a total of 8 hours per day to produce 280 dolls. She thinks that by changing the paint used for the facial features and fingernails, she can increase the rate to 350 dolls per day. Total material cost for each doll is approximately $3.50; she has to spend $40 in the necessary supplies (expendables) per day; energy costs are assumed to be only $4.00 per day; and the labor rate for her is $10 per hour. a) Viewing this from a multifactor productivity perspective by taking all the given inputs into consideration, what are her productivity at present and the one with the new paint in terms of dolls per dollar, respectively? (15 points) b) If she uses the new paint, by what amount could Joanna's material costs per doll increase without reducing the present multifactor productivity? (10 points) Q2. (Total 50 points) Suppose you (or your group) are the manager of a company trying to determine what forecasting method to use. Based upon the following historical data, calculate the following forecasts for each given forecasting method and then choose the best one to do the forecasts for the future. Month Actual Demand 123456 61 635222 67 70 72 73 a. Calculate the simple 3-month moving average forecast for periods 4-6. (5 points) b. Calculate the weighted 3-month moving average using weights of 0.50, 0.30, and 0.20 for periods 4-6. (5 points) c. Calculate the exponential smoothing forecast for periods 2-6 using an initial forecast (F1) 61, and an a of 0.30. (10 points) d. Calculate the double exponential smoothing forecast for periods 2-6 using an initial trend forecast (T1) of 1.8, and initial exponential smoothing forecast (Si) of 60 an a of 0.30 and a of 0.30. (15 points) e. Calculate the Mean Absolute Deviation (MAD) for the forecasts made by each technique in periods 4-6. Which forecasting method do you prefer? Using your preferred technique forecast the demands for the following 2 months (months 7-8). (15 points) Joanna is currently working a total of 8 hours per day to produce 280 dolls. She thinks that by changing the paint used for the facial features and fingernails, she can increase the rate to 350 dolls per day. Total material cost for each doll is approximately $3.50; she has to spend $40 in the necessary supplies (expendables) per day; energy costs are assumed to be only $4.00 per day; and the labor rate for her is $10 per hour. a) Viewing this from a multifactor productivity perspective by taking all the given inputs into consideration, what are her productivity at present and the one with the new paint in terms of dolls per dollar, respectively? (15 points) b) If she uses the new paint, by what amount could Joanna's material costs per doll increase without reducing the present multifactor productivity? (10 points) Q2. (Total 50 points) Suppose you (or your group) are the manager of a company trying to determine what forecasting method to use. Based upon the following historical data, calculate the following forecasts for each given forecasting method and then choose the best one to do the forecasts for the future. Month Actual Demand 123456 61 635222 67 70 72 73 a. Calculate the simple 3-month moving average forecast for periods 4-6. (5 points) b. Calculate the weighted 3-month moving average using weights of 0.50, 0.30, and 0.20 for periods 4-6. (5 points) c. Calculate the exponential smoothing forecast for periods 2-6 using an initial forecast (F1) 61, and an a of 0.30. (10 points) d. Calculate the double exponential smoothing forecast for periods 2-6 using an initial trend forecast (T1) of 1.8, and initial exponential smoothing forecast (Si) of 60 an a of 0.30 and a of 0.30. (15 points) e. Calculate the Mean Absolute Deviation (MAD) for the forecasts made by each technique in periods 4-6. Which forecasting method do you prefer? Using your preferred technique forecast the demands for the following 2 months (months 7-8). (15 points)