Marie Bain is the production manager at a company that manufactures hot water heaters. Marie needs a demand forecast for the next few years to help decide whether to add new production capacity
The company's sales history (in thousands of units) is shown in the table below. Use exponential smoothing with trend adjustment to forecast demand for period 6. The initial forecast for period 1 was 11 units; the initial estimate of trend was 0. The smoothing constants are ? = .3 and ? = .3
Period Actual
1 12
2 15
3 16
4 16
5 18
6 20
Period Actual Forecast Trend FIT
1 12 11.00 0.00
2 15 11.30 0.09 11.39
3 16 12.47 0.41 12.89
4 16 13.82 0.69 14.52
5 18 14.96 0.83 15.79
6 20 16.45 1.03 17.48
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When the manufacturer reduces prices to channel members to compensate them for the services they perform, it is known as a:
A. noncumulative quantity discount. B. consumer discount. C. cash discount. D. cumulative quantity discount. E. trade discount.
Zilo Toys Inc., a toy manufacturing company, believes that the longer customers spend in deciding what to purchase, the less likely they are to purchase more item. In order to determine the average time customers spend in purchasing toys from their stores, the company employs Tim to watch customers as they discuss what toys to buy. He then reports his findings to the management. In this scenario, Tim is engaged in__________.
Fill in the blanks with correct word.
Answer the following statement(s) true (T) or false (F)
1. The change agent is a person who is responsible for leading an organizational change or someone who is influential and can communicate and motivate others to accept a change by informal means. 2. Process management is a systematic process of applying the knowledge, tools, and resources needed to effect change in transforming an organization from its current state to some future desired state as defined by its vision. 3. Organizational climate is an organization’s collective values, beliefs, experiences, and norms that shape the behavior of the group and the individuals within it. 4. A force field analysis is a useful technique for looking at only the advantages of a proposed change.
Choosing the alternative that is the "best of the worst" using decision making under uncertainty would be:
A) maximin. B) maximax. C) Laplace. D) minimax regret.