11. Warren's Milk Tea Shop is talk of the town. As an owner, hewants to know the possible challenge he will encounter in thenext three years. What technique he should use?A. Contingency Planning B. BenchmarkingC. ForecastingD. Scenario Planning12. In year 2017, the strategic planners of Sheena Cosmeticsimplemented the pandemic allowance and assistance for all theemployees in case there will be any pandemic happened that canaffect the efficiency and safety of all the employees. And in theyear 2020 and up to this day, COVID-19 became the globalproblem. And the employees of Sheena Cosmetics were verythankful for the assistance given ahead of time for their safety.What planning technique did the company used?A. Contingency Planning B. ForecastingC. Linear Programming D. Scenario Planning13. Below are the advantages of division of work or laborЕXCEPTA. Creates job specializationB. Increase productivityC. Higher degree of control.D. Job given can be fit based on individual's ability.

Organizational planning is described as a process through which an organization states its…

Answered: 11. Warren's Milk Tea Shop is talk of…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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A manager has just received an evaluation from an analyst on two potential forecasting alternatives.The analyst is indifferent between the two alternatives, saying that they should be equally effective.Period 1 2 3 4 5 6 7 8 9 10Data 37 39 37 39 45 49 47 49 51 54Alt. 1 36 38 40 42 46 46 46 48 52 55Alt. 2 36 37 38 38 41 52 47 48 52 53a. What would cause the analyst to reach this conclusion?b. What information can you add to enhance the analysis?
Interpret the MAD of the most accurate among the forecasting models below. A. Naïve approach;B. 5-month SMA model;C. WMA model with weights 0.1, 0.3, and 0.6; orD. ES model with α = 0.5 and a forecast of 3,500 liters in the first month.
1. 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?
Distinguish between Planning and Forecasting. Answer must briefly.
1.in your own opinion,why benchmarking is a better planning tool? 2.how are you going to make your forecast more effective?give a concrete example. 3.How benchmarking can be used by the owner/manager of fast -food chain?explain your answer.
Using seasonal relatives. Apple’s Citrus Fruit Farm ships boxed fruit anywhere in the world. Usingthe following information, a manager wants to forecast shipments for the first four months of nextyear.MonthSeasonalRelative MonthSeasonalRelativeJan. 1.2 Jul. 0.8Feb. 1.3 Aug. 0.6Mar. 1.3 Sep. 0.7Apr. 1.1 Oct. 1.0May. 0.8 Nov. 1.1Jun. 0.7 Dec. 1.4The monthly forecast equation being used is:Ft= 402 + 3twheret0 = January of last yearFt= Forecast of shipments for month t
Month Jan Feb Mar fn Apr May Jun التحكم control option 7.8 8.1 8.1 8.1 8.0 8.0 12 الأوامر Activity No. 3 vo bepnarlo asi sta noitsiini srl worladi The following data represents the monthly unemployment rates for a count in 2012. Prepare and correctly label a line graph to show these figures an then answer the questions below a-f. Unemployment Rate % h command Month Jul Aug Sep Oct Nov Dec Unemployment Rate % 8.7 9.1 8.4 8.8 8.9 8.9 JIMVY Trianon الأوامر 1 command 4 . a) Describe how the unemployment rate has changed over the year. b) What month/s had the highest unemployment rate and what was it? c) What month/s had the lowest unemployment rate and what was it? d) What month had the biggest increase in unemployment from the previous month? e) What month had the smallest increase in unemployment from the previous month? f) Calculate the average unemployment rate for the year. di lliw jadw x10
5. (a) When a new business is started, or a patent idea needs funding, venture capitalists or investment bankers will want to see a business plan that includes forecast information related to a profit and loss statement. What type of forecasting information do you suppose would be required? (b) A picnic spot is open on Thursday, Friday and Saturday. The manager hopes to improve resource availability and scheduling of part-time employees by forecasting visitors in the next week. Data on visitors of the recent 5 weeks at the spot has been found. On Saturday, Thursday, and Friday there were 182. 95, and 280 in week 1; 197, 105, and 295 in week2; 178, 92, and 275 in week 3; 210, 109, and 305 in week 4; and 192, 100. and 284 in week 5. i. Find seasonal relatives of the days. ii. Forecast number of visitors in the resort for week 6 and that is for the days of week 6.
Assume today's date is 12/31/2023. Actual sales and forecast for 2023 are given below. Actual Forecast 2023 72.4 66.9 59.5 61.2 260 2023 69 67 Q3 61 Q4 59 Total 256 Obtain the MAD Q1 Q2 7.2 1.8 -1
Week 1 2 4 Forecast Method 1 0.90 1.05 0.97 1.22 Actual Demand 0.72 1.05 1.00 0.97 Week 1 2 3 4 Forecast Method 2 0.82 1.19 0.90 1.17 Actual Demand 0.72 1.05 1.00 0.97 0 The MAD for Method 1 = thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1 = thousand gallons (round your response to three decimal places). The MAD for Method 2 = thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 2 = thousand gallons (round your response to three decimal places).
a) The demand forecast for Month 6 would be: A. 565 haircuts B. 574 haircuts C. 578 haircuts D. 584 haircuts b) With Mean Absolute Deviation (MAD) as the criterion, the best forecasting model for this time series data is: A. Naïve approach B. 2-week Simple Moving Average (SMA) C. Weighted Moving Average (WMA) with weights: 0.5, 0.3, 0.2 D. Exponential Smoothing (ES) with alpha = 0.8
Chapter 14 1. How would you conduct a trend analysis? Provide an example. 2. Explain the three different source of information and forecast assumptions. Chapter 15 3. Explain the four common uses of comparisons that the manager will find helpful. Chapter 16 4. Explain the importance of assumptions when building a budget? Chapter 17 5. Explain the rationale for replacing existing equipment with new equipment.

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