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Forecasting and Linear programming problems

1. The number of pizzas ordered on Friday evenings between 5:30 and 6:30 at a pizza delivery location for the last 10 weeks is shown below. Use exponential smoothing with smoothing constants of .2 and .8 to forecast a value for week 11 (i.e., prepare two forecasts using each of the alpha values). Compare your forecasts using MSE. Which smoothing constant does a better job using lower MSE as the criterion?

58, 46, 55, 39, 42, 63, 54, 55, 61, 52

2. A trend line for the attendance at a restaurant's Sunday brunch is given by
Number = 264 + .72(t)

How many guests would you expect in week 20?

(no catch here - it's a simple question ;-)> )

3. Maxwell Manufacturing makes two models of felt tip marking pens. Requirements for each lot of pens are given below.

Fliptop Model Tiptop Model Available
Plastic 3 4 36
Ink Assembly 5 4 40
Molding Time 5 2 30

The profit for either model is $1000 per lot.

a. What is the linear programming model for this problem?
b. Find the optimal solution.
c. Will there be excess capacity in any resource?

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Solution Summary

This posting contains solution to following forecasting and Linear programming problems.

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