Mgmt 330 Week 1 Indv

In: Business and Management

Submitted By stuc8r19
Words 1049
Pages 5
Functions of Management
Your Name
MGT330
Date
Instructor Name

Functions in Management Four fundamental functions in management that have been around for decades are planning, organizing, leading, and controlling. Using these concepts has helped individuals manage effectively, as times change strategies in management need to change so these concepts need to be revisited into their relevancy in today’s world. Since these four functions have been first introduced these four concepts have been redefined. Planning, organizing, leading, and controlling have been changed to a more definitive manner. We will discuss in this paper how Bateman & Snell (2009) address a more definitive approach, and also how California Carpets used or did not use these functions.
Planning
Planning can be described by Bateman & Snell (2009) as “The management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue.” Determining how to use the available resources to achieve a company’s business model, analyzing situations, preparing for what the future might bring, deciding on objectives, deciding what activities need to be performed, are normally the activities of the planning portion of management. There are more activities in planning in today’s world that needs to be considered than the activities that were described. Bateman & Snell (2009) state that planning is now “delivering strategic value” How a company meets the needs of its customers, and employees is what Bateman & Snell (2009) state what entails delivering strategic value. Meeting a company’s organizational goals is another way to deliver value according to Bateman & Snell (2009). Bad planning can deeply hurt a company in such a way that the company will have to file bankruptcy as California Carpets…...

Similar Documents

Mgmt 408 Week 1

...Case Study Title Name: March 10, 2013 MGMT 408 Management of Technology Resources Instructor: Introduction Midsouth Chamber of Commerce or MSCC has existed since the 1900’s. The Midsouth area was highly dependent on transportation systems and as a result of legislative decisions, many communities in the Midsouth area could not gain access to reasonable transportation services (Brown, Dehayes, Hoffer, Martin, & Perkins). This organization has withstood many changes, and it started originally as a lobbing body for transportation access issues. Then it grew in the 1930s to encompass issues that affect business such as state banking laws, industrial development, and business taxes. By the mid-1900s, MSCC, under the new leadership of President Jack Willingford, became an aggressive advocacy organization for the business community (Brown, Dehayes, Hoffer, Martin, & Perkins) Background As most business they knew that proper investment in the Information systems and Information Technology is the best way to go but they dropped the ball when it came to proper investing, they either didn’t realize or ignored the problems from the start, and there was almost no resolution and never addressed them the right way and never changed their management to comply with the changes. The correct solution is to always employ someone to specific lead the IS business function, which was done when Lassiter purchased workstations and custom software that had limited......

Words: 809 - Pages: 4

Mgmt 597 Week 1 Assignment

...Week 1 Assignment 9.4 Loren Vranich, a doctor practicing under the corporate name Family Health Care Business Ethics, P.C., entered into a written employment contract to hire Dennis Winkel. The contract provided for an annual salary, insurance benefits, and other employment benefits. Another doctor, Dr. Quan, also practiced with Dr. Vranich. About nine months later, when Dr. Quan left the practice, Vranich and Winkel entered into an oral modification of their written contract whereby Winkel was to receive a higher salary and a profit-sharing bonus. During the next year, Winkel received the increased salary. However, a disagreement arose, and Winkel sued to recover the profit-sharing bonus. Under Montana law, a written contract can be altered only in writing or by an executed oral agreement. Dr. Vranich argued that the contract could not be enforced because it was not in writing. Does Winkel receive the profit-sharing bonus? Did Dr. Vranich act ethically in raising the defense that the contract was not in writing? Winkel v. Family Health Care, P.C., 205 Mont. 40, 668 P.2d 208, Web 1983 Mont. Lexis 785 (Supreme Court of Montana) Does Winkel receive the profit-sharing bonus? Answer: The problem here is that Dr. Vranich doesn’t believe that she should have to enforce a verbal agreement in which she entered in with Winkel for the profit-sharing bonus, but Montana law says that it should be honored. Yes, Winkel gets the profit-sharing bonus. Because in the state that the...

Words: 1242 - Pages: 5

Mgt 330 Week 1 Dq 1

...Discussion Questions 1 & 2 The Ron Jon Surf Shop is similar to the Hilo Hattie website is the sense that they both sale beach wear for men, women, and young children. They both are sunny beach wear type online stores to sale retail as well as other products. The web designs are similar in the sense that they use individuals who are happy and joyful to help sale product. They are different because Hilo Hattie is focused around Hawaiian products and clothing styles, whereas Ron Don Surf Shop not only sales clothes but surfing gear and attire. You can see organizational planning with in the Ron Job Surf Shop through out there website when you go to the “about us” section. It clearly shows that the goals of the company are (to sell clothes and surf products). It tells shoppers they not only do the company sale clothes but that they promote their products through community events, tour groups, and company partners. The site is very well organized so the customers can find which products they are looking for easily and within categories that make the search process much faster. When it comes to staffing you can see the managers have made it so customers can contact their customer service reps if any problem occurs to try and help solve them. This all shows a good control within the contents of the web page but also the company. Within the Hilo Hattie web page we see they sale clothing and product specific to Hawaiian culture and living. The organization planning is......

Words: 1075 - Pages: 5

Mgt 330 Week 1 Functions of Management Paper

...MGT 330 Week 1 Functions of Management Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mgt-330-week-1-functions-management-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MGT 330 Week 1 Functions of Management Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mgt-330-week-1-functions-management-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MGT 330 Week 1 Functions of Management Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mgt-330-week-1-functions-management-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MGT 330 Week 1 Functions of Management Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mgt-330-week-1-functions-management-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ )......

Words: 1496 - Pages: 6

Mgmt 404 All Ilabs Week 1 - 7

...MGMT 404 All iLabs Week 1 - 7 Purchase here http://devrycourse.com/mgmt-404-all-ilabs-week-1-7 Product Description MGMT 404 Week 1 iLab MGMT 404 Week 2 iLab MGMT 404 Week 3 iLab MGMT 404 Week 4 iLab MGMT 404 Week 5 iLab MGMT 404 Week 6 iLab MGMT 404 Week 7 iLab MGMT 404 All iLabs Week 1 - 7 Purchase here http://devrycourse.com/mgmt-404-all-ilabs-week-1-7 Product Description MGMT 404 Week 1 iLab MGMT 404 Week 2 iLab MGMT 404 Week 3 iLab MGMT 404 Week 4 iLab MGMT 404 Week 5 iLab MGMT 404 Week 6 iLab MGMT 404 Week 7 iLab MGMT 404 All iLabs Week 1 - 7 Purchase here http://devrycourse.com/mgmt-404-all-ilabs-week-1-7 Product Description MGMT 404 Week 1 iLab MGMT 404 Week 2 iLab MGMT 404 Week 3 iLab MGMT 404 Week 4 iLab MGMT 404 Week 5 iLab MGMT 404 Week 6 iLab MGMT 404 Week 7 iLab MGMT 404 All iLabs Week 1 - 7 Purchase here http://devrycourse.com/mgmt-404-all-ilabs-week-1-7 Product Description MGMT 404 Week 1 iLab MGMT 404 Week 2 iLab MGMT 404 Week 3 iLab MGMT 404 Week 4 iLab MGMT 404 Week 5 iLab MGMT 404 Week 6 iLab MGMT 404 Week 7 iLab MGMT 404 All iLabs Week 1 - 7 Purchase here http://devrycourse.com/mgmt-404-all-ilabs-week-1-7 Product Description MGMT 404 Week 1 iLab MGMT 404 Week 2 iLab MGMT 404 Week 3 iLab MGMT 404 Week 4 iLab MGMT 404 Week 5 iLab MGMT 404 Week 6 iLab MGMT 404 Week 7 iLab MGMT 404 All iLabs Week 1 - 7 Purchase......

Words: 672 - Pages: 3

Bus 330 Week 1 Complete Work – a Graded

...BUS 330 WEEK 1 COMPLETE WORK – A GRADED To purchase this, Click here http://www.activitymode.com/product/bus-330-week-1-complete-work-a-graded/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS 330 WEEK 1 COMPLETE WORK - A GRADED BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK – A GRADED To purchase this, Click here http://www.activitymode.com/product/bus-330-week-1-complete-work-a-graded/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS 330 WEEK 1 COMPLETE WORK - A GRADED BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK – A GRADED To purchase this, Click here http://www.activitymode.com/product/bus-330-week-1-complete-work-a-graded/ Contact us at: SUPPORT@ACTIVITYMODE.COM BUS 330 WEEK 1 COMPLETE WORK - A GRADED BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK – A GRADED To purchase this, Click......

Words: 588 - Pages: 3

Mgmt 404 Entire Course Week 1 to 8

...MGMT 404 ENTIRE COURSE WEEK 1 TO 8 To purchase this visit following link: http://www.activitymode.com/product/mgmt-404-entire-course-week-1-to-8/ Contact us at: SUPPORT@ACTIVITYMODE.COM MGMT 404 ENTIRE COURSE WEEK 1 TO 8 MGMT 404 Entire Course Week 1 To 8 MGMT 404 Week 1 iLab MGMT 404 Week 1 DQ 1 Case Study – A Day in the Life MGMT 404 Week 1 DQ 2 Case Study – Moss and McAdams Accounting Firm MGMT 404 Week 2 Course Project: Project Selection MGMT 404 Week 2 iLab MGMT 404 Week 2 DQ 1 Project Scope MGMT 404 Week 2 DQ 2 Case Study – Sharp Printing AG MGMT 404 Week 3 Course Project: Scope Statement MGMT 404 Week 3 iLab MGMT 404 Week 3 DQ 1 Project Schedule MGMT 404 Week 3 DQ 2 Risk Management MGMT 404 Week 4 Course Project: Work Breakdown Structure and Network Diagram MGMT 404 Week 4 iLab MGMT 404 Week 4 DQ 1 Managing Resource Constraints MGMT 404 Week 4 DQ 2 Reducing Project Duration MGMT 404 Week 5 Course Project: Risk Management Plan MGMT 404 Week 5 iLab MGMT 404 Week 5 DQ 1 Project Baseline MGMT 404 Week 5 DQ 2 Project Communication MGMT 404 Week 6 Course Project: Resource Management Plan MGMT 404 Week 6 iLab MGMT 404 Week 6 DQ 1 Case Study – Western Oceanography Institute MGMT 404 Week 6 DQ 2 Case Study Kerzner Office Equipment MGMT 404 Week 7 Course Project: Communication Plan MGMT 404 Week 7 iLab MGMT 404 Week 7 DQ 1 Case Study – Buxton Hall MGMT 404 Week 7 DQ 2 Case Study – A Day in the Life revisited MGMT 404 Week 8 Final Project......

Words: 1257 - Pages: 6

Mgmt 303 Complete Week 1

...MGMT 303 Complete Week 1 To Buy This material Click below link http://www.uoptutors.com/mgmt-303/mgmt-303-week-1 MGMT 303 Week 1 DQ 1 Based on what you have read in the Griffin text, how would you define a manager? Can anyone be a manager? Why or why not? MGMT 303 Week 1 DQ 2 Explain how top management impacts ethics within an organization. MGMT 303 Week 1 Quiz (TCO 1) Rajiv just completed a project in which he restructured sales territories, met with sales representatives to help them set goals, scheduled motivational meetings, and started a program of quarterly performance review for the sales force. His goals are to reduce waste and provide improved customer service. Rajiv is engaged in (TCO 1) The purpose of planning and decision making is to (TCO 1) Nicole is learning to fly an Army helicopter. She is drawing mainly on her ____ skills. (TCO 2) A(n) ____ would come under the heading of the economic element of the general environment. (TCO 2) Video teleconferencing impacts the number of business travelers who fly. This is an example of ____ to the airline industry. (TCO 2) The culture of an organization is often established by the…….. (TCO 2) Many organizations now have units that monitor a host of magazines and newspapers looking for stories that may have an impact on the organization. These units are (TCO 3) Which of the following is NOT an example of a situation in which a manager is likely to be called on to make an ethical decision regarding the......

Words: 398 - Pages: 2

Psy 330 Week 2 Dq 1 Neurobiology

...PSY 330 Week 2 DQ 1 Neurobiology To Buy This material Click below link http://www.uoptutors.com/PSY-330-ASH/PSY-330-Week-2-DQ-1-Neurobiology Select one of the following options for this discussion.  Indicate in your post which option you are responding to. Option A:  Review this week’s reading, which introduced the role of neurotransmitters in human behavior and personality.  Use the Ashford University Online Library to locate one peer-reviewed research study which was published in the last five years and that implicates a neurotransmitter as the cause of an abnormal behavior (psychological disorder).  Clearly indicate in your discussion: a.   The abnormal behavior being studied. b.   The neurotransmitter that is implicated. c.   The role of the neurotransmitter in the expression of the abnormal behavior.   Your initial post should be a minimum of 250 words and utilize at least one peer-reviewed source that was published within the last five years, cited according to APA guidelines as outlined in the Ashford Writing Center. Guided Response: Review several of your classmates’ posts.  Respond substantively to two peers who chose a different neurotransmitter or abnormal behavior than you did.  Address the role of the neurotransmitter in the expression of the abnormal behavior that they each selected.  Are there other possible explanations for the cause of this abnormal behavior?  Which explanation do you think makes the most sense?  Why? Option B: Review this week’s......

Words: 334 - Pages: 2

Psy 330 Week 3 Dq 1 Behaviorism

...PSY 330 Week 3 DQ 1 Behaviorism To Buy This material Click below link http://www.uoptutors.com/PSY-330-ASH/PSY-330-Week-3-DQ-1-Behaviorism Imagine you have completed the certification process and you are now a practicing therapist who specializes in behavior modification.  A new client calls you to make an appointment and discloses that she has a severe phobia of dogs.  She has been terrified of them since childhood.  Her fiancé has a dog and will not part with it, which requires her to get treatment before they are married.  Take one of the following approaches to develop a strategy for her behavior change: Option A: Utilize classical conditioning techniques to develop a strategy for changing the behavior of the client. Be specific in identifying the unconditioned stimulus, the unconditioned response, the conditioned stimulus, and the conditioned response. Your response should also indicate the most likely cause of this disorder from a behaviorist perspective. Your initial post should be a minimum of 250 words and utilize one peer-reviewed source which was published within the last five years, cited according to APA guidelines as outlined in the Ashford Writing Center.  Indicate in your post which option you are responding to. Option B: Utilize operant conditioning techniques to develop a strategy for changing the behavior of the client. Be specific in identifying the reinforcement for the unwanted behavior and the method(s) of reinforcement you will use. Your response......

Words: 311 - Pages: 2

Bsop 330 Week 1 Lab Assignment Problems

...BSOP 330 WEEK 1 LAB ASSIGNMENT PROBLEMS To purchase this tutorial visit here: http://mindsblow.us/question_des/BSOP330WEEK1LABASSIGNMENTPROBLEMS/214 contact us at: help@mindblows.us BSOP 330 WEEK 1 LAB ASSIGNMENT PROBLEMS 4.1, 4.5, 4.9 AND 4.11, PAGES 140-141 Problems: 4.1, 4.5, 4.9 and 4.11, pages 140-141. Problems: 4.1: The following gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks: a) Forecast the demand for the week of October 12 using a 3-week moving average. b) Use a 3-week weighted moving average, with weights of .1, .3, and .6, using .6 for the most recent week. Forecast demand for the week of October 12. c) Compute the forecast for the week of October 12 using exponential smoothing with a forecast for August 31 of 360 and α = .2. Problems: 4.5: The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: Year Mileage 1 3,000 2 4,000 3 3,400 4 3,800 5 3,700 a) Forecast the mileage for next year using a 2-year moving average. b) Find the MAD based on the 2-year moving average forecast in part (a).(Hint: You will have only 3 years of matched data.) c) Use a weighted 2-year moving average with weights of .4 and .6 to forecast next year’s mileage. (The weight of .6 is for the most recent year.) What MAD results from using this approach to forecasting? (Hint: You will......

Words: 1510 - Pages: 7

Mgmt 404 Entire Course Week 1 - 8

...MGMT 404 Entire Course Week 1 - 8 Purchase here http://sellfy.com/p/6bIl/# Product Description (MGMT 404 Project Management - DeVry) MGMT 404 Week 1 iLab MGMT 404 Week 1 DQ 1 Case Study - A Day in the Life MGMT 404 Week 1 DQ 2 Case Study - Moss and McAdams Accounting Firm MGMT 404 Week 2 Course Project: Project Selection MGMT 404 Week 2 iLab MGMT 404 Week 2 DQ 1 Project Scope MGMT 404 Week 2 DQ 2 Case Study - Sharp Printing AG MGMT 404 Week 3 Course Project: Scope Statement MGMT 404 Week 3 iLab MGMT 404 Week 3 DQ 1 Project Schedule MGMT 404 Week 3 DQ 2 Risk Management MGMT 404 Week 4 Course Project: Work Breakdown Structure and Network Diagram MGMT 404 Week 4 iLab MGMT 404 Week 4 DQ 1 Managing Resource Constraints MGMT 404 Week 4 DQ 2 Reducing Project Duration MGMT 404 Week 5 Course Project: Risk Management Plan MGMT 404 Week 5 iLab MGMT 404 Week 5 DQ 1 Project Baseline MGMT 404 Week 5 DQ 2 Project Communication MGMT 404 Week 6 Course Project: Resource Management Plan MGMT 404 Week 6 iLab MGMT 404 Week 6 DQ 1 Case Study - Western Oceanography Institute MGMT 404 Week 6 DQ 2 Case Study Kerzner Office Equipment MGMT 404 Week 7 Course Project: Communication Plan MGMT 404 Week 7 iLab MGMT 404 Week 7 DQ 1 Case Study - Buxton Hall MGMT 404 Week 7 DQ 2 Case Study - A Day in the Life revisited MGMT 404 Week 8 Final Project Package MGMT 404 Entire Course Week 1 - 8 Purchase here http://sellfy.com/p/6bIl/# Product......

Words: 1290 - Pages: 6

Bus 330 Week 1 Complete Work

...BUS 330 WEEK 1 COMPLETE WORK TO purchase this tutorial visit following link: http://wiseamerican.us/product/bus-330-week-1-complete-work-2/ Contact us at: SUPPORT@WISEAMERICAN.US BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx...

Words: 280 - Pages: 2

Bus 330 Week 1 Complete Work

...BUS 330 WEEK 1 COMPLETE WORK TO purchase this tutorial visit following link: http://wiseamerican.us/product/bus-330-week-1-complete-work/ Contact us at: SUPPORT@WISEAMERICAN.US BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx BUS 330 WEEK 1 COMPLETE WORK BUS 330 Week 1 DQ 1 ( Role of the Marketing Function In Business).docx BUS 330 Week 1 DQ 2 (Tangible and Intangible Products and Services).docx BUS 330 Week 1 Learning Team Reflection .docx BUS 330 Week 1 Quiz(10 Q & A).docx...

Words: 279 - Pages: 2

Bsop 330 Week 1 Lab Assignment Problems

...BSOP 330 WEEK 1 LAB ASSIGNMENT PROBLEMS TO purchase this tutorial visit following link: http://wiseamerican.us/product/bsop-330-week-1-lab-assignment-problems/ Contact us at: SUPPORT@WISEAMERICAN.US BSOP 330 WEEK 1 LAB ASSIGNMENT PROBLEMS 4.1, 4.5, 4.9 AND 4.11, PAGES 140-141 Problems: 4.1, 4.5, 4.9 and 4.11, pages 140-141. Problems: 4.1: The following gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks: a) Forecast the demand for the week of October 12 using a 3-week moving average. b) Use a 3-week weighted moving average, with weights of .1, .3, and .6, using .6 for the most recent week. Forecast demand for the week of October 12. c) Compute the forecast for the week of October 12 using exponential smoothing with a forecast for August 31 of 360 and α = .2. Problems: 4.5: The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: Year Mileage 1 3,000 2 4,000 3 3,400 4 3,800 5 3,700 a) Forecast the mileage for next year using a 2-year moving average. b) Find the MAD based on the 2-year moving average forecast in part (a).(Hint: You will have only 3 years of matched data.) c) Use a weighted 2-year moving average with weights of .4 and .6 to forecast next year’s mileage. (The weight of .6 is for the most recent year.) What MAD results from using this approach to forecasting?...

Words: 511 - Pages: 3