Questions
Refer to the gasoline sales time series data in the given table.
Refer to the gasoline sales time series data in the given table.
a. Compute four-week and five-week moving averages for the time series. Round your answers to two decimal places.
b. Compute the MSE for the four-week and five-week moving average forecasts. Round your intermediate calculations and final answers to two decimal places.
MSE for four-week moving average =
MSE for five-week moving average =
c. What appears to be the best number of weeks of past data (three, four, or five) to use in the moving average computation? Recall that MSE for the three-week moving average is 11.94.
In: Other
A production line has three machines A, B, and C, with reliabilities of 99, 96, and 93, respectively.
A production line has three machines A, B, and C, with reliabilities of 99, 96, and 93, respectively. The machines are arranged so that if one breaks down, the others must shut down. Engineers are weighing two alternative designs for increasing the line's reliability. Plan 1 involves adding an identical backup line, and plan 2 involves providing a backup for each machine. In either case, three machines (A, B, and C) would be used with reliabilities equal to the original three.
a. Which plan will provide the higher reliability?
b. Explain why the two reliabilities are not the same.
c. What other factors might enter into the decision of which plan to adopt?
In: Other
Their price lists are shown in the table Ordering cost is $55, and annual holding cost per unit is $4
M.P. VanOyen Manufacturing has gone out on bid for a regulator component. Expected demand is 725 units per month. The item can be purchased from either Allen Manufacturing or Baker Manufacturing. Their price lists are shown in the table Ordering cost is $55, and annual holding cost per unit is $4
Allen Mfg. | Baker Mfg. | ||
Quantity | Unit Price | Quantity | Unit Price |
1-499 | $16.00 | 1-399 | $16.10 |
500-999 | 15.50 | 400-799 | 15.60 |
1000+ | 15.00 | 800+ | 15.10 |
a) What is the economic order quantity if price is not a consideration?
b) Which supplier, based on all options with regard to discounts, should be used?
In: Other
Particle accelerators are used to create well-controlled beams of high-energy particles.
Learning Goal: To learn the basic physics and applications of cyclotrons.
Particle accelerators are used to create well-controlled beams of high-energy particles. Such beams have many uses, both in research and industry.
One common type of accelerator is the cyclotron, as shown in the figure. In a cyclotron, a magnetic field confines charged particles to circular paths while an oscillating electric field accelerates them. It is useful to understand the details of this process.
Consider a cyclotron in which a beam of particles of positive charge q and mass m is moving along a circular path restricted by the magnetic field (which is perpendicular to the velocity of the particles).
Part A)
Before entering the cyclotron, the particles are accelerated by a potential difference V. Find the speed v with which the particles enter the cyclotron.
Express your answer in terms of V, m, and q.
Part B)
Find the radius r of the circular path followed by the particles. The magnitude of the magnetic field is B.
Express your answer in terms of v, m, B, and q.
Part C)
Find the period of revolution T for the particles.
Express your answer in terms of m, B, and q.
Part D)
Find the angular frequency w of the particles.
Express your answer in terms of m, B, and q.
Part E)
Your goal is to accelerate the particles to kinetic energy K. What minimum radius R of the cyclotron is required?
Express your answer in terms of m, q, B, and K.
In: Other
Develop a lot-for-lot solution and calculate total relevant costs for the gross requirements in the following table
Develop a lot-for-lot solution and calculate total relevant costs for the gross requirements in the following table
| Period | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross requirements | 30 | 30 | 30 | 60 | 20 | 20 | 70 | 50 |
Holding cost = $1.50/unitweek: setup cost = $200; lead time 1 week; beginning inventory 40
Develop a lot-for-lot solution (enter your responses as whole numbers).
In: Other
Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production...
Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production facility 300 days per year. It has orders for about 11,500 flashing lights per year and has the capability of producing 100 per day. Setting up the light production costs $51. The cost of each light is $1.00. The holding cost is $0.5 per light per year.
a. What is the optimal size of the production run? (answer 6,168)
b. What is the average holding cost per year? (answer 95.60)
c. What is the average setup cost per year? (answer 95.09)
d. What is the total cost per year, including the cost of lights? (answer 11690.69)
In: Other
The number of heart surgeries performed at Heartville General Hospital has increased steadily over the past several years.
The number of heart surgeries performed at Heartville General Hospital has increased steadily over the past several years. The hospital's administration is seeking the best method to forecast the demand for such surgeries in year 6. The data for the past five years are shown below.
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Demand | 44 | 47 | 54 | 57 | 61 |
The hospital's administration is considering the following forecasting methods. Begin error measurement in year 3, so all methods are compared for the same years
i. Exponential smoothing, with a 0.6. Let the initial forecast for year 1 be 44, the same as the actual demand.
ii, Exponential smoothing, with o: 0.9 Let the initial forecast for year 1 be 44, the same as the actual demand.
iii. Trend projection with regression
iv. Two-year moving average.
v. Two-year weighted moving average, using weights 0.6 and 0.4, with the more recent data given more weight.
If MAD is the performance criterion chosen by the administration, which forecasting method should it choose? Trend projection with regression
If MSE is the performance criterion chosen by the administration, which forecasting method should it choose?
In: Other
Sam's Cat Hotel operates 52 weeks per year, 7 days per week
Sam's Cat Hotel operates 52 weeks per year, 7 days per week, and uses a continuous review inventory system. It purchases kitty litter for $10.75 per bag. The following information is available about these bags. Refer to the standard normal table for z-values.
>Demand 95 bags/week
>Order cost $56/order
>Annual holding cost = 30 percent of cost
>Desired cycle-service level = 99 percent
>Lead time = 4 week(s) (28 working days)
>Standard deviation of weekly demand = 20 bags
>Current on-hand inventory is 325 bags, with no open orders or backorders
a. What is the EOQ?
Sam's optimal order quantity is _______ bags. (Enter your response rounded to the nearest whole number.)
What would be the average time between orders (in weeks)?
The average time between orders is _______ weeks. (Enter your response rounded to one decimal place.)
b. What should R be? The reorder point is 118 bags. (Enter your response rounded to the nearest whole number.)
c. An inventory withdrawal of 10 bags was just made. Is it time to reorder?
It is not time to reorder.
d. The store currently uses a lot size of 490 bags (i.e., Q 490). What is the annual holding cost of this policy?
The annual holding cost is $ 817.08. (Enter your response rounded to two decimal places.)
What is the annual ordering cost?
The annual ordering cost is $ 615.51. (Enter your response rounded to two decimal places.)
Without calculating the EOQ, how can you conclude from these two calculations that the current lot size is too large?
A. There is not enough information to determine this.
B. When Q 490, the annual holding cost is less then the ordering cost, therefore Q is too small.
C. When Q 490, the annual holding cost is larger than the ordering cost, therefore Q is too large.
D. Both quantities are appropriate
e. What would be the annual cost saved by shifting from the 490-bag lot size to the EOQ?
The annual holding cost with the EoQ is S 708.69. (Enter your response rounded to two decimal places.)
The annual ordering cost with the EOQ is $ 709.65. (Enter your response rounded to two decimal places.)
Therefore, Sam's Cat Hotel saves $ 14.25 by shifting from the 490-bag lot size to the EOQ. (Enter your response rounded to two decimal places.)
In: Other
Audit sampling involves applying an audit procedure to less than 100 percent of the population for the purpose of evaluating some characteristics of the population.
Audit sampling involves applying an audit procedure to less than 100 percent of the population for
the purpose of evaluating some characteristics of the population. The fact that an audit involves
sampling is noted in the scope paragraph of the auditor’s report, which contains the phrase “An
audit includes examining, on a test basis.” When an auditor uses sampling, an element of
uncertainty enters into the auditor’s conclusions.
Required:
a) Explain why auditor’s still use sampling techniques despite the uncertainties that are
inherent in audit conclusions drawn on samples.
b) As an auditor what will be your justification for using statistical sampling instead of nonstatistical
sampling in auditing account receivables. Give three justifications
c) Outline five quality control procedures the auditor may implement to ensure that the
auditors work is of standards.
d) You overheard the following comments during a conversation between Auditor Kaakaba
and Auditor Kasanga about a specific sampling application.
i. “Using non-statistical sampling is so much easier than using statistical sampling.
Statistical sampling requires far too many judgments. Under non-statistical
sampling, I can just pick items, evaluate them, and make my decision.”
ii. “I wish non-statistical sampling were allowable in generally accepted auditing
standards audits. In some cases, the additional time required by statistical sampling
just isn’t worth the benefits.”
iii. “Once we control the sampling risk, we’re home free. Assuming we select a
representative sample, there’s nothing else that we need to worry about.”
iv. “Be careful if you try to set sampling risk at too low a level. You will need to select
more items, which will increase the amount of audit time.”
v. “Those transactions with Wimbey are always so difficult to audit. Let’s exclude
them from our sampling frame. We can pick other items and have a sufficiently
large sample to meet generally accepted auditing standards.”
vi. “I’m about to perform a walkthrough on Flushing’s processing of sales transactions
to understand their nature. What level of sampling risk should I consider in planning
my sample of transactions?”
Required:
With reference to appropriate professional standards and practices state whether each of the
above statements is valid or not a valid and why you think so. Your responds must be very
brief.
In: Other
For the below ME alternatives , which machine should be selected based on the PW analysis. MARR=10%.
Answer the below questions :
A- PW for machine C =
B- Based on the PW value you got in the previous questions, which machine we should select? type you explanation below
In: Other
Which of the following is a disadvantage of the matrix design? Resource utilization is...
Which of the following is a disadvantage of the matrix design?
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Resource utilization is inefficient. |
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Decision making is decentralized. |
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A single head has to overlook multiple divisions. |
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There is low flexibility. |
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Additional time is required for meetings and coordination. |
In: Other
Gilmore Framing (GF) specializes in framing artwork for mid-sized commercial projects. Its clients are largely brokers...
Gilmore Framing (GF) specializes in framing artwork for mid-sized commercial projects. Its clients are largely brokers who contract to provide “art” to decorate new or renovated hotels. The brokers send the unframed artwork to GF to mount and frame.
The process at GF involves two steps, Frame Construction and Mounting. There is one Frame Construction Station and one worker at Mounting.
The Frame Construction Station handles the artwork in batches. The batch size is set to be 12 pieces of artworks/batch. A 5-minute setup for each piece of art is required before the batch processing. Then the frames for the whole batch of artworks will be constructed all together, which takes on average 1.5 hours. These 1.5 hours processing time does not change when the batch size changes.
At Mounting, art pieces are matted and placed in a frame. Mounting is largely a manual operation and does not require a set up. The worker at the mounting finishes one piece of artwork in 10 minutes.
Please use the information provided to answer the following 7 questions.
1. Which kind of batching the Frame Construction Station is doing?
A. Sequential Batching B. Simultaneous Batching
2. The stage capacity of Frame Construction is ______ pieces/hour? (Keep one decimal in your answer.)
3. The stage capacity of Mounting is _______ pieces/hour.
4. The bottleneck of the process is ______.
A. Frame Construction B. Mounting
5. If the demand to the process is 5 pieces of artworks/hour, the flow rate is ______ pieces/hour.
6. If the demand to the process is 4 pieces of artwork/hour, the stage utilization of Frame Construction is _______; the stage utilization of Mounting is _______.
A. 66.7%; 80% B. 83.3%; 80% C. 83.3%, 66.7% D. 66.7%, 80%
7. Please indicate which of the following CANNOT improve the process capacity.
A. Increase the batch size at Frame Construction.
B. Add one more worker to Mounting.
C. Reduce the setup time at Frame Construction.
D. None of the above.
In: Other
7) Which of the following is an example of value-added work? A) Repairing a defective product...
In: Other
Software Engineering
Software Engineering
A freight forwarding company will develop a tracking system application that can provide convenience for consumers in sending goods to various locations. Some of the conveniences of this application are Consumers can send goods with a home pickup system so that consumers just make an order for delivery of goods, then the goods will be picked up and delivered to the destination location.Consumers can check the position of the goods that are on the way with their smartphone as well as the ease of making payments using various online payment systems. In addition, the application can also be used by companies to track vehicles used for shipping goods with real time information on the position, condition of the vehicle, driver's condition and information on the goods being transported.Based on thiscase,
Answer the following questions:
Using Function Point analysis, calculate the function points for the completion of the application development project and identify the activities carried out for the development of this application in the form of WBS (work breakdown structure).
In: Other
Go-to-the-Investment-worksheet. This worksheet-should-show.the-returns-potential investors-could-realize-ifthey invested $165,000-in-the-Neighborhood Nurse program.. Pranjali-figures-a-desirable rate-of-return-would-be-7.3.percent. She estimates the inves
In: Other