Tuesday, 28 April 2015

MAT540 Week 4 Homework Chapter 15

MAT540Week 4 HomeworkChapter 151. The manager of the Carpet City outlet needs to make an accurate forecast of the demand for Soft Shag carpet (its biggest seller). If the manager does not order enough carpet from the carpet mill, customers will buy their carpet from one of Carpet City’s many competitors. The manager has collected the following demand data for the past 8 months:MonthDemand for Soft Shag Carpet (1,000 yd.)19283748510611713812a. Compute a 3-month moving average forecast for months 4 through 9.b. Compute a weighted 3-month moving average forecast for months 4 through 9. Assign weights of 0.50, 0.30, and 0.20 to the months in sequence, starting with the most recent month.c. Compare the two forecasts by using MAD. Which forecast appears to be more accurate?2. The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has accumulated the following data on demand for unleaded gasoline from sales during the past 10 months:MonthGasoline

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MAT 540 Week 4 Discussion Forecasting Methods

Select one (1) of the following topics for your primary discussion posting:
•    Identify any challenges you have in setting up a time-series analysis in Excel. Explain what they are and why they are challenging. Identify resources that can help you with that.

•    Explain how forecasting is used in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting.

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Wednesday, 22 April 2015

MAT 540 Week 3 Homework Chapter 14

Chapter 141. The Hoylake Rescue Squad receives an emergency call every 1, 2, 3, 4, 5, or 6 hours, according to the following probability distribution. The squad is on duty 24 hours per day, 7 days per week:Time BetweenEmergency Calls (hr.)Probability10.0520.1030.3040.3050.2060.051.00a. Simulate the emergency calls for 3 days (note that this will require a “running”, or cumulative, hourly clock), using the random number table.b. Compute the average time between calls and compare this value with the expected value of the time between calls from the probability distribution. Why are the results different?2. The time between arrivals of cars at the Petroco Service Station is defined by the following probability distribution:Time BetweenArrivals (min.)Probability10.2520.3030.3540.101.00

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Saturday, 18 April 2015

HRM 560 Week 4 Assignment 1 Stories of Change

Use the organization where you currently work or one where you may have worked as a point of reference for evaluating environmental and organizational pressures.Write a four to six (4-6) page paper in which you:
  1. Create a table where at least three (3) organizational pressures and at least three (3) environmental pressures in the organization are illustrated and rank those pressures according to their influence.
  2. Describe in detail the environmental and organizational pressures that exist in the organization and how they have evolved over time.
  3. Explain how the identified environmental and organizational pressures impact the company from a financial perspective.
  4. Explain how the identified environmental and organizational pressures impact you personally  and / or the other employees of the company.
  5. Assess how the organization has reacted to the organizational and environmental pressures identified in Criterion 1.
  6. Propose at least one (1) strategy that could be utilized to reduce one (1) of the environmental pressures identified in Criterion 1 and at least one (1) strategy that could be utilized to reduce one (1) of the organizational pressures identified in Criterion 1.
  7. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

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Wednesday, 15 April 2015

MAT540 Week 2 Homework Chapter 12

MAT540 Week 2 Homework Chapter 12
1. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment: Gasoline Availability Investment Shortage Stable Supply Surplus Motel $-8,000 $15,000 $20,000 Restaurant 2,000 8,000 6,000 Theater 6,000 6,000 5,000 Determine the best investment, using the following decision criteria. a. Maximax b. Maximin c. Minimax regret d. Hurwicz (α = 0.4) e. Equal likelihood

2. A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in College Junction, where the game is to be held. The manager estimates that the following profits will result from each decision, given each set of weather conditions: Weather Conditions Decision Rain Overcast Sunshine .30 .15 .55 Sun visors $-500 $-200 $1,500 Umbrellas 2,000 0 -900 a. Compute the expected value for each decision and select the best one. b. Develop the opportunity loss table and compute the expected opportunity loss

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Thursday, 9 April 2015

MAT 540 Week 2 Discussion Discuss Simulation

Week 2 Discussion
Discuss Simulation
Select one (1) of the following topics for your primary discussion posting:
Identify the part of setting up a simulation in Excel that you find to be the most challenging, and explain why. Identify resources that can help you with that.
Explain how simulation is used in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting.

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MAT 540 Week 1 Discussion Expected Value of Perfect Information

Week 1 Discussion
In your own words, explain how to obtain the “expected value of perfect information” for any payoff table, which has probabilities associated with each state of nature. Then, provide an example, drawing from any of the payoff tables in Problems 1-17 in the back of Chapter 12. If no probabilities are given for the states of nature, then assume equal likelihood.

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