Homework #1 - Part 1 (auto-graded)
Mean Absolute Deviation (MAD) Calculate the Mean Absolute Deviation (MAD) using the following data. Round to the nearest whole number (Refer to Slides 52, 53, and 54 in Chapter 02 -or- Pages 54 and 55 in the textbook) MONTH ACTUAL SALES FORECAST JAN 1,345 1,275 FEB 1,445 1,330 MAR 1,470 1,550 APR 1,390 1,420 MAY 1,340 1,320 JUN 1,345 1,340 JUL 1,300 1,405 AUG 1,375 1,355 SEP 2,152 2,100 OCT 2,314 2,135 NOV 2,352 2,424 DEC 2,224 2,272
MONTH ABSOLUTE DEVIATION JAN 70 FEB 115 MAR 80 APR 30 MAY 90 JUN 5 JUL 105 AUG 20 SEP 52 OCT 179 NOV 72 DEC 48 TOTAL 866 MAD = (866/12) 72.17
Mean Absolute Deviation (MAD) Calculate the Mean Absolute Deviation (MAD) using the following data. Round to the nearest whole number (Refer to Slides 52, 53, and 54 in Chapter 02 -or- Pages 54 and 55 in the textbook) MONTH ACTUAL SALES FORECAST JAN 1,345 1,440 FEB 1,445 1,435 MAR 1,470 1,360 APR 1,390 1,490 MAY 1,340 1,470 JUN 1,345 1,350 JUL 1,300 1,195 AUG 1,375 1,375 SEP 2,152 2,244 OCT 2,314 2,296 NOV 2,352 2,236 DEC 2,224 2,379
MONTH ABSOLUTE DEVIATION JAN 95 FEB 10 MAR 110 APR 100 MAY 130 JUN 5 JUL 105 AUG 0 SEP 92 OCT 18 NOV 116 DEC 155 TOTAL 936 MAD = (936/12) 78
Simple Moving Average Forecast Compute the sales forecast for the month of January 2022 using the Simple Moving Average forecasting technique and the last 12 months of data from 2021: (Refer to Slide 31 in Chapter 02 -or- Pages 48 and 49 in the textbook) Monthly sales for the RUOK Company for the last 12 months are as follows: MONTH ACTUAL SALES January 2021 93,493 February 2021 77,703 March 2021 52,150 April 2021 42,035 May 2021 11,645 June 2021 81,603 July 2021 11,317 August 2021 27,908 September 2021 38,187 October 2021 49,210 November 2021 22,524 December 2021 53,225 MONTH FORECAST January 2022 ??,???
MONTH ACTUAL SALES January 2021 93,493 February 2021 77,703 March 2021 52,150 April 2021 42,035 May 2021 11,645 June 2021 81,603 July 2021 11,317 August 2021 27,908 September 2021 38,187 October 2021 49,210 November 2021 22,524 December 2021 53,225 TOTAL 561,000 AVERAGE 561,000/12 = 46,750
Weighted Moving Average Forecast Compute the sales forecast for the month of January 2022 using the Weighted Moving Average forecasting technique and the last 6 months of 2021 data with the following monthly weights: (Refer to Slide 32 in Chapter 02 -or- Pages 49 and 50 in the textbook) Weights: 0.40 for the previous month, 0.30 for 2 months prior, 0.10 for 3 months prior, 0.10 for 4 months prior, 0.05 for 5 months prior, and 0.05 for 6 months prior. Monthly sales for the RUOK Company for the last 12 months are as follows: MONTH ACTUAL SALES January 2021 93,490 February 2021 77,700 March 2021 52,150 April 2021 40,030 May 2021 11,640 June 2021 81,600 July 2021 11,320 August 2021 27,900 September 2021 38,180 October 2021 49,210 November 2021 22,520 December 2021 53,220 MONTH FORECAST January 2022 ??,???
MONTH ACTUAL SALES July 2021 11,320 x 0.05 = 566 August 2021 27,900 x 0.05 = 1,395 September 2021 38,180 x 0.10 = 3,818 October 2021 49,210 x 0.10 = 4,921 November 2021 22,520 x 0.30 = 6,756 December 2021 53,220 x 0.40 = 21,288 January 2022 TOTAL = 38,744
Simple Moving Average Forecast Compute the sales forecast for the month of January 2022 using the Simple Moving Average forecasting technique and the last 6 months of data from 2021: (Refer to Slide 31 in Chapter 02 -or- Pages 48 and 49 in the textbook) Monthly sales for the RUOK Company for the last 12 months are as follows: MONTH ACTUAL SALES January 2021 67,346 February 2021 43,983 March 2021 53,002 April 2021 79,263 May 2021 70,613 June 2021 81,785 July 2021 58,560 August 2021 18,588 September 2021 90,274 October 2021 31,872 November 2021 82,676 December 2021 39,720 MONTH FORECAST January 2022 ??,???
MONTH ACTUAL SALES July 2021 58,560 August 2021 18,588 September 2021 90,274 October 2021 31,872 November 2021 82,676 December 2021 39,720 TOTAL 321,600 AVERAGE 321,600/6 = 53,600
Weighted Moving Average Forecast Compute the sales forecast for the month of January 2022 using the Weighted Moving Average forecasting technique and the last 3 months of 2021 data with the following monthly weights: (Refer to Slide 32 in Chapter 02 -or- Pages 49 and 50 in the textbook) Weights: 0.60 for the previous month, 0.30 for 2 months prior, 0.10 for 3 months prior Monthly sales for the RUOK Company for the last 12 months are as follows: MONTH ACTUAL SALES January 2021 93,490 February 2021 77,700 March 2021 52,150 April 2021 40,030 May 2021 11,640 June 2021 81,600 July 2021 11,320 August 2021 27,900 September 2021 38,180 October 2021 49,210 November 2021 22,520 December 2021 53,220 MONTH FORECAST January 2022 ??,???
MONTH ACTUAL SALES October 2021 49,210 x 0.10 = 4,921 November 2021 22,520 x 0.30 = 6,756 December 2021 53,220 x 0.60 = 31,920 January 2022 TOTAL = 43,609
Master Production Schedule - Capacity Requirements Using the data and information from the following chart, what is the Total Capacity Hours Required for the 1,200 Units scheduled for Month 4 ? (Refer to Slides 20 and 21 in Chapter 03)
Rough-cut Capacity Hours Per Unit Final Assembly 0.56 Quality Inspection 0.07 Packaging 0.04
