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 81. 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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