MT_sample_solutions

MT_sample_solutions - MSOM 105 Mid-term Time allotted : 80...

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MSOM 105 Mid-term Time allotted : 80 minutes 1. The demand for heart transplant surgery at a major Philadelphia hospital has increased steadily over the last few years. Year 1 2 3 4 5 6 # transplants 45 50 52 56 58 ? The director of medical services predicted six years ago that the demand in year 1 would be 41 surgeries. a) Use exponential smoothing, first with a smoothing constant of 0.6 and then with one of 0.9, to develop two separate forecasts for years 2 through 6. (4 points) (for alpha = 0.9 – forecast =57.75) b) Use a three year moving average to forecast demand in years 4,5 and 6. (4 points) (55.33 in period 6), period 4 forecast = (45+50+52)/3, period 5 forecast = (50+52+56)/3 c) Use the trend projection method to forecast demand in year 6. (2 points) (61.8) 2. Tailwind, inc. produces high-quality, but expensive training shoes for runners. Each shoe retails for $110 and offers protection against foot injuries. Manufacturing the shoes requires 10 separate tasks. There are 400 minutes available for manufacturing the shoes in the plant everyday. Daily demand is 60. The information for the tasks is given below:
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MT_sample_solutions - MSOM 105 Mid-term Time allotted : 80...

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