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Category: Management
Consider the following time series data: Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy: a. Mean absolute error
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Category: Management
EZ Trailers, Inc., manufactures a variety of general purpose trailers, including a complete line of boat trailers. Two of their best-selling boat trailers are the EZ-190 and the EZ-250. The EZ-190 is designed for boats up to 19 feet in length, and the EZ-250 can be used for boats up to 25 feet in length. EZ Trailers would like to schedule productio...
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Category: Management
Michigan Motors Corporation (MMC) just introduced a new luxury touring sedan. As part of its promotional campaign, the marketing department decided to send personalized invitations to test-drive the new sedan to two target groups: (1) current owners of an MMC luxury automobile and (2) owners of luxury cars manufactured by one of MMC’s competitors. ...
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Category: Management
The L. Young & Sons Manufacturing Company produces two products, which have the following profit and resource requirement characteristics: Characteristic Product 1 Product 2 Profit/unit $4 $2 Dept. A hours/unit 1 1 Dept. B hours/unit 2 5 Last month’s production schedule used 350 hours of labor in department A and 1000 hours of labor in departme...
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Category: Management
ROB'S MARKET Rob’s Market (RM) is a regional food store chain in the southwest United States. David White, director of Business Intelligence for RM, would like to initiate a study of the purchase behavior of customers who use the RM loyalty card (a card that customers scan at checkout to qualify for discounted prices). The use of the loyalty card a...
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