Homework answers / question archive / The number of cans of soft drinks sold in a machine each week is recorded below

The number of cans of soft drinks sold in a machine each week is recorded below

Sociology

Share With

The number of cans of soft drinks sold in a machine each week is recorded below. Use a three-period moving average and exponential smoothing with a smoothing constant of 0.4 to forecast the sales for week 11. What are the sales? What are mean absolute percentage errors (MAPE)? Which appears to provide the better forecast based on MAPE? Explain. Week1 Week2 Week3 Week 4 Week5 | Week6 Week 7 Week 8 Week9 Week10 337 218 277 264 313 322 298 258 286 301 a. Develop a three-period moving average to forecast the sales. Compute MAPE (% error) and a forecast for week 11. b. Use exponential smoothing with a smoothing constant of 0.4 to forecast the sales for week 11. What is the forecast for week 11 and what is the MAPE? C. Which appears to provide a better forecast for week 11 based on MAPE? Explain. 6. (20 points) A company produces two products made from aluminum and copper. The table below gives the unit requirements, the unit production man-hours required, the unit profit and the availability of the resources (in tons). Product 1 Product 2 Available Aluminum 1 1 10 Copper 0 1 6 Man-hours 2 3 24 Unit Profit 50 60 a. Formulate a LP to maximize the total profit. b. What is the maximum profit? C. What are the dual values (shadow prices). Interpret the managerial meaning of each dual value. d. What is the increase in the value of the objective function for an extra unit of aluminum? e. Compute and interpret the ranges of optimality. f. Compute and interpret the ranges of feasibility.