Assuming actual product demand were 1,500; 1540; 1,520; 1,550; and 1,560 for Weeks 1, 2, 3, 4, and 5, respectively. Using 2 as interval for moving averages forecasting, the computed sum of percentage error and MAPE should be: * a. 2.89% and 0.96% b. 1.60% and 15.00% c. 1.29% and 0.29% d. 0% and 0%
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Assuming actual product demand were 1,500; 1540; 1,520; 1,550; and 1,560 for Weeks 1, 2, 3, 4, and 5, respectively. Using 2 as interval for moving averages
a. 2.89% and 0.96%
b. 1.60% and 15.00%
c. 1.29% and 0.29%
d. 0% and 0%
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- Under what conditions might a firm use multiple forecasting methods?At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.Assuming actual product demand were 1,500; 1540; 1,520; 1,550; and 1,560 for Weeks 1, 2, 3, 4, and 5, respectively. Using 2 as interval for moving averages forecasting, the computed sum of percentage error and MAPE should be: * o 1.60% and 15.00% o 2.89% and 0.96% o 1.29% and 0.29% o 0% and 0%
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