Problems:
Forecasting and Linear programming problems
1. The number of pizzas ordered on Friday evenings between 5:30 and 6:30 at a pizza delivery location for the last 10 weeks is shown below. Use exponential smoothing with smoothing constants of .2 and .8 to forecast a value for week 11 (i.e., prepare two forecasts using each of the alpha values). Compare your forecasts using MSE. Which smoothing constant does a better job using lower MSE as the criterion?
58, 46, 55, 39, 42, 63, 54, 55, 61, 52
2. A trend line for the attendance at a restaurant's Sunday brunch is given by
Number = 264 + .72(t)
How many guests would you expect in week 20?
(no catch here - it's a simple question ;-)> )
3. Maxwell Manufacturing makes two models of felt tip marking pens. Requirements for each lot of pens are given below.
Fliptop Model Tiptop Model Available
Plastic 3 4 36
Ink Assembly 5 4 40
Molding Time 5 2 30
The profit for either model is $1000 per lot.
a. What is the linear programming model for this problem?
b. Find the optimal solution.
c. Will there be excess capacity in any resource?