SAINT COM315 MODULE 8 discussions- What is the difference between a casual model and a time-series model
Question;Module 8 Question;**1** IMPORTATN - PLEASE UNDERSTAND AND APPLY THE FOLLOWING ****;Students are directed to select one (1) discussion question to respond to for their initial response.;For the initial response, students must select a question that has not been answered;however, if all questions have been answered, they are to choose the question with the last initial response;but must provide an original answer.;**2** IMPORTATN - Please be reminded of what is required;1) your discussion (worth 9pts).;2) 2 student replies (worth 3 pts, each).;3) please use your own words from information presented in course text.;Please use one of the following discussion questions to discuss. please try not to repeat question that another student may have already discussed.;unless, off course, all questions have been discussed.;===========================================================================;Module 8;1. What is the difference between a casual model and a time-series model?;2. What is the meaning of least squares in a regression model?;3. What are some of the problems and drawbacks of the moving average forecasting model?;4. What effect does the value of the smoothing constant have on the weight given to the past forecast and the past observed value?;5. Why wouldn?t a company always store large quantities of inventory to eliminate shortages and stock outs?;6. What are some of the assumption made in using the EOQ model?;7. What is the ROP? How is it determined?;8. What assumptions are made in the EPQ model?;9. What happens to the EPQ model when the daily production rate becomes very large?;10. Describe what is involved in solving a quantity discount problem.;11. Discuss the methods used to determine safety stock when the stock out cost is known and when the stock out cost is unknown.
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