v Transcribed Text Use the provided information to formulate an assignment model. Solve the optimization problem to help the event planner match the winners with the vacation packages. What is the highest overall preference score that the event planner can achieve? Note: Round your answer to 1 decimal place. Out of the possible 40 points, the highest overall score is v Transcribed Text b. Which winners should receive the oceanside bungalow and wine country packages? Winner Winner should receive the oceanside bungalow package. should go receive the wine country package
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- 1. Demand forecast of products by market (demand forecast could be for four seasons/periods) 2. Facility opening costs by region and transportation costs between each pair of sites. 3. Inventory costs by site and as a function of quantity 4. Sales price of product in different regions excel sheet examples1. A forecaster must decide on the value of this factor before he can use the simple moving average model. * a. Actual demand for each period b. Averaging period c. Exponential smoothing constant d.Weights 2. A forecaster must decide on the value of this factor before he can use the exponential smoothing model. * a. Actual demand for each period b. Averaging period c. Exponential smoothing constant d. Weights 3. A forecaster must calculate this value to assess the accuracy of a time series forecasting model. * a. Averaging period b. Correlation coefficient c. Exponential smoothing constant d. Mean absolute deviation1. Omar has heard from some of his customers that they will probably cut back on order sizes in thenext quarter. The company he works for has been reducing its sales force due to falling demand andhe worries that he could be next if his sales begin to fall off. Believing that he may be able to convince his customers not to cut back on orders, he turns in an optimistic forecast of his next quartersales to his manager. What are the pros and cons of doing that?
- National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven month period were as follows:Months Sales (in thousand units)February 15March 19April 12May 21June 23July 24August 27a. Using the Naïve method in order to forecast September sales volume.b. Using linear trend equation in order to forecast September sales volume. c. Using five-month moving average in order to forecast September sales volume.d. Using weighted moving average of 0.80 for August, 0.05 for July, and 0.15 for June in order to forecast September sales volume.e. Using Exponential smoothing with a smoothing constant equal to 0.25 and assuming a March forecast of 18(000) in order to forecast September sales volume.4. What is the difference between trend and seasonality in time series data? 5. Here are the errors associated with a particular forecast over the past 5 months, in chronological order: 5, 10, -15, 0, 8. In which month was the forecast perfectly accurate? In which month was the forecast the least accurate? In which month or months was the forecast too high? (Noteshaper Ramp Up # 23) 6. Tutoring Center needs to allocate tutors this week for office appointments, so it needs to forecast the number of students who will seek appointments. The director has gathered the following time series data recently: Time Period Code Student Appointments Jan 6 - 10 95 Jan 13 - 17 80 Jan 20 - 24 65 Jan 27 – 31 4 50 a) What is the naïve forecast for the number of student appointments for Time Period 5 (Feb 3– 7)? b) What is the 2 week moving average for Time Period 5? c) What is the 3 week moving average for Time Period 5? d) What is the forecast for Time Period 5 using exponential smoothing with alpha =…1. Solve manually. a. Income at the law firm Smith and Wesson for the period February to July was as follows: Month Feb Mar Аpr May June July Income $ 70.00 71.30 (in thousand) 68.50 64.30 71.70 72.8 Use trend-adjusted exponential smoothing to forecast the law firm's August income. Assume that the initial forecast for February is $65,000 and the initial trend adjustment is 0. The smoothing constants selected are alpha = 0.1 and beta = 0.2 %3D
- V. Let's Explore / Let's Create 1. Discuss the other types of forecasting methods that financial analysts use to predict future revenues. 2. Are there any several other factors that may need to be considered that affects the sales forecast? RUBRIC Criteria Poor (3 Points) Fair (7 Points) Fair Good (10 Points) Good DeerWhich would result in a positive budget forecasting error? 1. Overlooking a source of investment income II. Not taking into account an expense paid once а year II. Switching to a less costly gym v. Underestimating annual car expenses V. Overestimating expected capital gains54|David is looking to purchase an old church building. He hires an appraiser to help determine the market value of the property. Why would the appraiser most likely value the property using the cost approach? O A church is a specialty building that will most likely not have any comparable properties. It is also not an income producing property, so the best method would be the cost approach. O The income capitalization approach should be used rather than the cost approach. O A church building will have at least three comparable properties to use to help determine the market value. O The church building will most likely have income, which when a capitalization rate is applied will help determine the market value
- 16. Company B have made a recent study on their historical data of the unit order price of a certain product. Based on this monthly time series they have discovered two behaviors regarding the factor(i.e. price) they want to forecast. The first behavior was a positive trend in the values. They were able to fit a linear trend line (y=a+b*x) to the available data. However they have realized that it was not enough to account for all the fluctuations. The following investigation revealed that the price values were also fluctuating based on seasonal effects. Eventually they were able to build a forecasting system to predict the price of this certain product. All the trend line components and seasonality indices are provided below. Seasonality factors are calculated to be used in a multiplicative manner. Please show the calculations for ONLY the cells that contain a question mark below. Period 1 2 3 4 5 6 7 8 9 10 11 12 13 Slope Intercept = Number of "seasons" 2 3 4 1 2 3 4 1 2 Season 3 4 1…K The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this year follows: Week 1 2 3 4 5 6 OA. The value of the forecast will remain the same. B. The value of the forecast will increase. OC. The value of the forecast will decrease. Actual No. of Patients 27 29 36 20 24 35 Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.250 one period ago, 0.250 two periods ago, and 0.167 three periods ago. a) What is the value of your forecast? The value of the forecast is 28.67 patients (round your response to two decimal places). b) If instead the weights were 20, 15, 15, and 10, respectively, how would the forecast change?Quantitative Methods 1.The minimum expected opportunity loss ____________________. a.) is equal to the highest expected payoff. b.) is greater than the expected value with perfect information. c.) is equal to the expected value of perfect information. d.) is computed when finding the minimax regret decision. 2.) A decision tree is preferable to a decision table when_________________________. a.) a number of sequential decisions are to be made. b.) probabilities are available. c.) the maximax criterion is used. d.) the objective is to maximize regret. 3.In decision theory, probabilities are associated with _____________________. a.) payoffs. b.) alternatives. c.) states of nature. d.) none of the above.