QUESTION 1
1. A Companythat makes shopping carts for supermarkets and other stores recently purchased
some new equipment that reduces the labor content of the jobs needed to produce
the shopping carts. Prior to buying the new equipment, the company used 6
workers, who produced an average of 78 carts per hour. Workers receive $10 per
hour, and machine coast was $36 per hour. With the new equipment, it was
possible to transfer one of the workers to another department, and equipment
cost increased by $13 per hour while output increased by four carts per hour.
a) Compute the multifactor productivity (MFP) (labor plus
equipment) under the Prior to buying the new equipment. The MFP (carts/$)
= (round to 4 decimal places).
b) Compute the % growth in productivity between the Prior to
and after buying the new equipment. The growth in productivity = % (round to 2 decimal places)
QUESTION 2
1. Given is
a historical time series for job services demand in the prior 6 months.
Month Demand
1 789
2 738
3 807
4 739
5 799
6 768
2.
The Period 6 forecast by using weighted moving average with
weights of 0.05, 0.25, 0.40, and 0.30 =
(in 2 decimal places)
QUESTION 3
1. The
manager of a seafood restaurant was asked to establish a pricing policy on
lobster dinners. The manager intends to use the pricing $/LB to predict the
lobster sales on each day. The pertinent historical data are collected as shown
in the table. Anaswer the following questions.
Day Lobster
Sold/day Price ($/lb.)
1 194 6.1
2 191 6.3
3 188 6.5
4 181 7.0
5 171 7.0
6 163 7.7
7 162 8.0
2.
a) x = independent variable. According to this problem, the
?x =
b) r is the coeefficient of correlation. Use the r equation
to compute the value of the denominator part of the equation. The value for the
r denominator = (in 4 decimal places)
c) According to this problem, the correlation of
coefficient, r, between the two most pertinent variables is = (in 4 decimal places).
d) According to the instructor’s lecture, the correlation
strength between any two variables can be described as strong, weak, or no
correlation. The correlation strength for this problem can be described as correlation.
e) According to the instructor’s lecture, the correlation
direction between any two variables can be described as direct or indirect
relationship. The correlation direction for this problem can be described
as relationship.
f) Regardless, you were told to use the Associative
Forecasting method to predict the expected lobster sale. If the lobster price =
$8.58, the expected #s of lobster sold =
(round to the next whole #).
QUESTION 4
1. Given is
a historical time series for job services demand in the prior 6 months.
Month Demand
1 766
2 711
3 806
4 719
5 798
6 768
2.
The Period 4 forecast by using exponential smoothing with
0.33 alpha = (in 2 decimal places)
