For the following set of forecasts (17, 20, 25, 31, 39) and actual values (19, 24, 28, 32, 38), calculate the MAD Data collected on the annual demand for 50 pound fertilizer at Pikes Garden Supply is shown below (in 1000s of bags) Find the forecast for year 6 using (i) a three year moving average approach and (ii) a two year moving average approach Calculate the MAD to determine which method is better Year Demand Forecast 1 5 2 7 3 4 4 8 5 8 6 10 7 9 8 12 The graph of the feasible region for a mixture problem is shown below Find the point that maximizes the profit function P 2 x 3y 4 Customers arrive at a supply room, managed by a single clerk, with mean rate of 25 per hour Service takes a mean of 2 minutes, Calculate The probability that the clerk is busy The probability that the clerk is idle The average number of customers in the system The average number of customers waiting to be served 5 Using the graph above, find (a) coordinates of all the feasible regions and (b) the maximum profit for the equation P 10X 25Y 6 (a) What is queuing theory (b) List and briefly describe any two methods of forecasting (c) What is linear programming (d) Write brief notes on the importance of quantitative analysis 7 In no less than 400 words, tell a student from another college what you are some of the things you have learned while doing the course Quantitative Analysis 8 a Which forecasting method assumes that next periods forecast is equal to this periods actual value b A firm has the following order history over the last 6 months January 120 February 95 March 100 April 75 May 100 June 50 c What would be a 3 month weighted moving average forecast for July, using weights of 4 for the most recent month, 3 for the month preceding the most recent month, and 3 for the month preceding that one 9 a Which forecasting method is the simplest b State 2 assumptions of the waiting line models presented in your readings 10 The area of a parking lot is 400 square meters A car requires 5 square meters A bus requires 8 square meters The attendant can handle only 60 vehicles If a car is charged $4 75 and a bus $9 50, how many of each should be accepted to maximize income (0,9) (0,0) (6,0) (6,7)

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For the following set of forecasts (17, 20, 25, 31, 39) and actual values (19, 24, 28, 32, 38), calculate the MAD. Data collected on

For the following set of forecasts (17, 20, 25, 31, 39) and actual values (19, 24, 28, 32, 38), calculate the MAD.

Data collected on the annual demand for 50-pound fertilizer at Pikes Garden Supply is

shown below (in 1000’s of bags). Find the forecast for year 6 using (i) a three-year

moving average approach and (ii) a two year moving average approach. Calculate

the MAD to determine which method is better..

Year	Demand	Forecast
1	5
2	7
3	4
4	8
5	8
6	10
7	9
8	12

The graph of the feasible region for a mixture problem is shown below. Find the point that maximizes the profit function P = 2x + 3y.

(0,9) (0,0) (6,0) (6,7)

4. Customers arrive at a supply room, managed by a single clerk, with mean rate of 25 per hour. Service takes a mean of 2 minutes,

Calculate:

The probability that the clerk is busy.
The probability that the clerk is idle.
The average number of customers in the system.
The average number of customers waiting to be served.

Using the graph above, find (a) coordinates of all the feasible regions and (b) the maximum profit for the equation P= 10X + 25Y

6. (a) What is queuing theory?

(b) List and briefly describe any two methods of forecasting.

(d) Write brief notes on the importance of quantitative analysis.

7. In no less than 400 words, tell a student from another college what you are some of the things you have learned while doing the course Quantitative Analysis.

8. a. Which forecasting method assumes that next period’s forecast is equal to this period’s actual value?

b. A firm has the following order history over the last 6 months.

January 120

February 95

March 100

April 75

May 100

June 50

c. What would be a 3-month weighted moving average forecast for July, using weights of .4 for the most recent month, .3 for the month preceding the most recent month, and .3 for the month preceding that one?

9.a. Which forecasting method is the simplest?

b. State 2 assumptions of the waiting line models presented in your readings.

10. The area of a parking lot is 400 square meters. A car requires 5 square meters. A bus requires 8 square meters. The attendant can handle only 60 vehicles. If a car is charged $4.75 and a bus $9.50, how many of each should be accepted to maximize income?