Maxwell Manufacturing makes two models of felt tip marking
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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 post solves three problems. First is on exponential smoothing, second one on linear regression and third one on linear programming
Solution Preview
See the attached file for complete solution. The text here may not be copied exactly as some of the symbols / tables may not print. Thanks
1
Week Number of Pizzas Ordered Exponential Smoothing with alpha=0.2 Forecast error Square of Forecast error Exponential Smoothing with alpha=0.8 Forecast error Absolute Forecast ...
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