28. A manufacturing firm seeks to develop a better forecast for O an important product, and believes that there is a trend to the data. OM Explorer's Trend Projection with Regression Solver has been set up with the 47 demands in the history file. Note the "Load Problem 28 Data" button in the Trend Projection with Regression Solver that when clicked will automatically input the demand data. Otherwise, you can enter the de- mand data directly into the Inputs sheet. Yr 1 2 4 Apr 4064 4485 4225 4648 May 4002 4385 4324 4860 Jun 3963 4377 4220 4998 Jul 4037 4309 4267 5003 Aug 4162 4276 4187 4960 Yr 1 2 3 4 Sep 4312 4280 4239 4943 Jan 4507 4589 4084 4535 Oct 4395 4144 4352 5052 Feb 4400 4688 4158 4477 Nov 4540 4219 4331 5107 Mar 4099 4566 4174 4601 Dec 4471 4052 4371
28. A manufacturing firm seeks to develop a better forecast for O an important product, and believes that there is a trend to the data. OM Explorer's Trend Projection with Regression Solver has been set up with the 47 demands in the history file. Note the "Load Problem 28 Data" button in the Trend Projection with Regression Solver that when clicked will automatically input the demand data. Otherwise, you can enter the de- mand data directly into the Inputs sheet. Yr 1 2 4 Apr 4064 4485 4225 4648 May 4002 4385 4324 4860 Jun 3963 4377 4220 4998 Jul 4037 4309 4267 5003 Aug 4162 4276 4187 4960 Yr 1 2 3 4 Sep 4312 4280 4239 4943 Jan 4507 4589 4084 4535 Oct 4395 4144 4352 5052 Feb 4400 4688 4158 4477 Nov 4540 4219 4331 5107 Mar 4099 4566 4174 4601 Dec 4471 4052 4371
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 33P: Management of a home appliance store would like to understand the growth pattern of the monthly...
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a. What is your
b. The actual demand for period 48 was just learned to be 5,100. Add this demand to the Inputs file and change the starting period for the regression to period 2 so that the number of periods in the regression remains unchanged. How much or little does the forecast for period 49 change from the one for period 48? The error measures? Are you surprised?
c. Now change the time when the regression starts to period 25 and repeat the process. What differences do you note now? What forecast will you make for period 49?
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