Calculate regression equation for preceding demand data/ Operation Management
Q. Choose At least four key elements, tools, also/or concepts relevant to operations management also/or duties of an operations manager or operations management. Describe them also elucidate how they relate. 250words
Q. Historical demand for a product is
DEMAND
January 12
February 11
March 15
April 12
May 16
June 15
a. Using a weighted moving average with weights of 0.60, 0.30, also 0.10, find July forecast.
b. Using a simple three-month moving average, find July forecast.
c. Using single exponential smoothing with = 0.2 also a June forecast = 13, find July forecast. Make illustrate whatever assumptions you wish.
d. Using simple linear regression analysis, calculate regression equation for preceding demand data.
e. Using regression equation in d, calculate forecast for July.
