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First Examination
II. The number of plumbing repair jobs performed by Augur’s Plumbing Service in each of the last three months is listed below.
|
Time Period |
|
Demand |
|
| 4 years ago |
61 |
||
| 3 years ago |
64 |
||
| 2 years ago |
69 |
||
| 1 year ago |
77
|
||
|
|
|||
A. What is this year’s forecast using a weighted moving average, with the weights equal to .6, .3, .1?
- What is this year’s forecast using the linear trend (regression) approach?
III. The Readylite Company produces a flashlight in which product managers are trying to decide how long a warranty to issue.
If the managers believe the life of the flashlight follows a normal distribution with a mean of two- and- one half years and a standard deviation of six months:
- What percentage of flashlights sold can they anticipate will be returned within the first two years?
- What percentage of flashlights sold can they anticipate will be returned within the first three years/
- What percentage of flashlights sold can they anticipate will be returned within the first two and one half years?
