Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q3 part 2INSTRUCTIONS: For the mathematical models either use Word Equations, or write down the formulas on a paper, take a photo you MUST upload

Q3 part 2INSTRUCTIONS: For the mathematical models either use Word Equations, or write down the formulas on a paper, take a photo you MUST upload the word file and an Excel Workbook. For the optimization problems, you must use the Excel solve

image text in transcribed
Question 3) (40 points] Consider a transportation problem. There are a set of suppliers and a set of customers in a region. The customers have their known demand of a specific product. Suppliers have supply capacities for the product. An operations manager wants to make shipment decisions, Le, how many items to ship from each supplier to each customer, subject to the demand requirements and supply capacities. The demand and supply information are presented below. Tablel Customer Supply Supplier 3 Capacity A 10 10 50 B 5 50 C 10 10 50 D 10 8 5 50 We want to determine a shipment plan to satisfy customer's demand in the month of April. We do not have demand information for April. But we have historical demand data for the previous 11 months for each of the customers. Table 2 Demand Period Month Customer 1 Customer 2 Customer 3 1 May 48 55 30 2 June 46 47 45 3 July 53 43 33 4 August 58 60 50 5 September 52 54 2 6 October 54 46 57 November 65 45 co December 69 44 99 9 January 71 55 102 10 February 74 44 107 11 March 75 33 103 b) Use Mean Squared Error (MSE) evaluation method to select the best forecasting model for each customer. Report MSE of each forecasting model for each customer. Answer: Table 4 Mean Squared Error (MSE) Customer 1 | Customer 2 | Customer 3 4 Month Moving Average Exponential Smoothing Trend Line (Regression) For each customer, put April's prediction of the best model in the table below. Table 5 Customer 1 2 3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Project Management A Managerial Approach

Authors: Jack R. Meredith, Samuel J. Mantel,

7th Edition

470226218, 978-0470226216

More Books

Students also viewed these General Management questions