(TCO 1) For a moving average forecast to be of any use to us, what
assumption must be true?
Moving averages are useful if we can assume that market demands will stay fairly
steady over time. Chapter 4 (Time-Series Forecasting)
Chapter 4 Forecasting, Homework
Howard Weiss, owner of a musical instrument distributorship, thinks that demand for bass
drums may be related to the number of television appearances by the popular group Stone
Temple Pilots during the previous month.
1.(TCO 8) What are the three parts of a wait-line system? (Points:15)
Service Characteristics - Its characteristics include
its design and the statistical distribution of service
times. Tw o basic properties are impor- tant: (1)
design of the servi
1. Develop a network drawing for Hill Construction and determine the critical path.
How long is the project expected to take?
Most Likely (m)
Even though independent gasoline stations have been having a difficult time, Susan Helms has been
thinking about starting her own independent gasoline station. Susans problem is to decide how large
her station should be. The annual returns will depend
1. (TCO 14) Briefly discuss the decision methods used when there is complete
uncertainty as to which state in a decision environment may occur. (Points : 10)
When there is complete uncertainty as to which state of nature in a decision environment may
Even though independent gasoline stations have been having a difficult time, Susan Helms
has been thinking about starting her own independent gasoline station. Susans problem is
to decide how large her station should be. The annual returns will depend
(TCO 6) What is the first step in solving a break-even analysis using a
Linear Programming Homework Problem
Solve the following linear programming problem graphically:
Maximize Profit P = 4 X + 6Y
X + 2Y < = 8
5X + 4Y < = 20
X, Y > = 0
Ans: We draw the constraints as shown below in the graph:
The above figur
Develop a forecasting model, justifying its selection over other techniques, and project
attendance through 2011.
What revenues are to be expected in 2010 and 2011?
Discuss the schools options.
1. The time-series forecas
Linear Programming Concept paper.
The two types of linear programming discussed.
Graphical linear programming provides a quick insight into the nature of linear programming.
The graphical procedure can be used only when there are two decision variables. W
Markland Manufacturing intends to increase capacity by overcoming a bottleneck operation
by adding new equipment. Two vendors have presented proposals. The fixed costs for
proposal A are $50,000, and for proposal B, $70,000. The variable cost for A
1. (TCO 8) What are the three parts of a wait-line system? (Points : 15)
2. (TCO 9) What is the objective function of LP? (Points : 15)
3. (TCO 11 & 12) What are two of the steps in a simplex maximization problem? (Points : 15)
4. (TCO 10) What wil