Question 1 (5 points): Problem: The Best Buy has recorded sales (in units) for three products during the last 15 workdays: a) Plot the three time series variables to determine their pattem (using Excel). b) Forecast workday 16 sales for each of the products using an appropriate naive method. And justify the each calculation using naive method (in each case). Degree of Difficulty: Easy Evaluation: - O marks for Nothing submitted, or document cannot be opened. - 1 mark for missing identification in the document (name, NSID, student ID) - 1 mark for correct plotting (a). - 1 mark for correct pattern - 1 mark for justification of method choice. - 2 marks for correct forecast for day 16 sales. Problem: Given the quarterly demand from 2017 to 2022, forecast the quarterly demand in 2023 using Annual averages method. Degree of Difficulty: Moderate NOTE: Please show step by step calculation. Keep 2 decimal places. Evaluation: - O marks for Nothing submitted, or document cannot be opened. - - 1 mark for missing identification in the document (name, NSID, student ID). - 4 marks for correct forecast values for 2023 in each quarter. Problem: The manager of ABC Manufacturing uses two different forecasting techniques to forecast sales of new fittings. Using MAD as a criterion, which technique produces more accurate forecasts? Degree of Difficulty: Easy Keep 2 decimal places. Evaluation: - O marks for submitting nothing and/or files that cannot be opened. - 1 mark for missing identification in the document (name, NSID, student ID) - 2 marks for correct answer. Problem: Prepare a house of quality for chocolate chip cookie made in bakery. According to the survey, customers' requirements are as follows: taste (importance score: 10), cost of ingredients (importance score: 7), durability of cookie (importance score: 4) and appearance (importance score: 4). Technical specifications and customer requirements relationship is as follows: - 'Color' has strong relationship with appearance. - 'Cost per cookie' has strong relationship with cost of ingredients. - 'Type of flour' has strong relationship with durability of cookie. - 'Type of flour' has a medium relationship with cost of ingredients. - 'Type of Sugar' has a medium relationship with cost of ingredients. Complete the provided matrix and find the importance scores of the technical requirements. Which technical requirement is the most important? Degree of Difficulty: Easy Evaluation: - O marks for submitting nothing and/or files that cannot be opened. - 1 mark for missing identification (name, NSID, student number) - 2 marks for correct technical requirement importance calculation - 1 mark for correct identification of the most important technical requirement. Problem: Suppose your organization wants to launch a new product or service. What are the implications in designing and producing that product with respect to legal, profitability, competitiveness, design and production issues? Degree of Difficulty: Easy Evaluation: - O marks for submitting nothing and/or files that cannot be opened. - -1 mark for missing identification in the document (name, NSID, student ID) - 3 marks for relevant discussion. Problem: ES forecasting is similar to operating a vehicle or truck. Compare and contrast: driving a truck and using the exponential smoothing technique. Degree of Difficulty: Easy Evaluation: - O marks for submitting nothing and/or files that cannot be opened. - 1 mark for missing identification in the document (name, NSID, student ID) - 3 marks for relevant discussion