Use the following scenario to answer questions 11-15 (7 points each): The dean of a school of business is forecasting to

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Use The Following Scenario To Answer Questions 11 15 7 Points Each The Dean Of A School Of Business Is Forecasting To 1 (127.63 KiB) Viewed 43 times

Use the following scenario to answer questions 11-15 (7 points each): The dean of a school of business is forecasting total student enrollment for this year's summer session classes based on the following historical data: YEAR Four years ago Three years ago Two years ago Last year TOTAL ENROLLMENT 2,000 2,200 2,800 3,000 11. What is this year's forecast using the naïve approach? A) 2,000 B) 2,200 C) 2,800 D) 3,200 E) none of the above 12. What is this year's forecast using a three-year simple moving average? A) 2,667 B) 2,600 C) 2,500 D) 2,400 E) 2,333 13. What is this year's forecast using exponential smoothing with alpha = .4, if last year's smoothed forecast was 2,600? A) 2,600 B) 2,760 C) 2,800 D) 3,840 E) 3,000 14. (10 points) The injection molding department of a company uses 40 pounds of a powder a day. Inventory is reordered when the amount on hand is 240 pounds. Lead time averages five days. It is normally distributed and has a standard deviation of two days. What is the probability of a stockout during leadtime?