Question 2. What are the different approaches to forecasting? How would you classify them? Explain.
- Question 1 Discuss In Detail Any Three Design Considerations That Need To Be Evaluated From An Operations Perspective D 1 (42.89 KiB) Viewed 9 times
Question 1. Discuss in detail any three design considerations that need to be evaluated from an operations perspective d
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Question 1. Discuss in detail any three design considerations that need to be evaluated from an operations perspective d
Question 1. Discuss in detail any three design considerations that need to be evaluated from an operations perspective during product and service design? Explain with an example for each.
Question 2. What are the different approaches to forecasting? How would you classify them? Explain.
3. Following table shows the monthly sales of computers at a retail store: Actual sales Forecast using 3WMA Month 1 2 3 4 5 6 7 8 112 104 97 117 137 129 147 Forecast using 2MA Error Error Answer the following questions based on the data given above. Show your calculations steps. (a). What is the expected sales for the 8th month based on 2 period moving average? (10 Points) ANS: (b). What is the expected sales for the 8th month based on 3 period weighted moving average (Weights are 0.5, 0.3, 0.2)? (15 Points) ANS: (c). Which of the above two forecasting method is better based on MAD and why? (15 Points) ANS:
Question 2. What are the different approaches to forecasting? How would you classify them? Explain.
3. Following table shows the monthly sales of computers at a retail store: Actual sales Forecast using 3WMA Month 1 2 3 4 5 6 7 8 112 104 97 117 137 129 147 Forecast using 2MA Error Error Answer the following questions based on the data given above. Show your calculations steps. (a). What is the expected sales for the 8th month based on 2 period moving average? (10 Points) ANS: (b). What is the expected sales for the 8th month based on 3 period weighted moving average (Weights are 0.5, 0.3, 0.2)? (15 Points) ANS: (c). Which of the above two forecasting method is better based on MAD and why? (15 Points) ANS: