(PLEASE SHOW YOUR WORK! Problem 1 (6 points): A manager wants to choose one of two forecasting alternatives: moving average and exponential smoothing. Each alternative was tested using historical data. The resulting forecast errors for the two are shown in the table. Period (1) 1 2 5 Forecasting Errors using Moving Average 3 2 2 Forecasting Errors using Exponential Smoothing 4 -1 3 4 3 (a) Calculate MAD for Moving Average Method and Exponential Smoothing Method (2 points) (b) Calculate MSE for Moving Average Method and Exponential Smoothing Method (2 Points) (c) Based on Part (a) and Part (b), which forecasting method (Moving Average or Exponential Smoothing) should be used in this problem? Please explain your reasons. (2 Points) Focus E Problem 2 (4 points): The weekly output of a fabrication process is shown below, together with data for labor and material inputs. Overhead is charged weekly at the rate of $2,000 plus 0.5 times direct labor cost. Assume a 40-hour week and an hourly wage of $16. Material cost is $20 per foot. What is the average multifactor productivity for the week 1? Week Output Number of Workers Materials (Foot 1 50000 20 3000 Problem 3 (6 points): Refer to the following data for jobs waiting to be processed at a single work center (jobs are shown in order of arrival): Job A B D E F Processing Due Date Time (Days) (days from Now) 2 2 5 6 7 10 12 8 10 3 O ADUN What is the average flow time for the earliest due date (EDD) rule schedule? Problem 4 (6 points): Use Johnson's rule to determine the optimal processing sequence for the jobs listed in the following table. Processing Time (mins) JOB STI ST2 30 12 B 8 16 10 9 D 14 7 E 5 4 F 15 5 Please write the optimal processing sequence for the six jobs: Problem 5 (7 points): A company decides to establish an EOQ for an item. The annual demand is 200,000 units. The ordering costs are $10 per order, and inventory-carrying costs are 84 per unit per year. Calculate the following: (a). The EOQ in units (3 points) (b). What is the annual total cost (4 Points) Problem 6 (6 points): In Chapter 14 you have learned about JIT (Just-in-Time) strategy. Please discuss the pros and cons of the JIT strategy for a company's operations. The minimum number of words is 250 words