A) 1. Discuss some forecasting issues that you encounter in your daily life. How do you make your forecasts? 2. Suppose that you were thinking about opening a new restaurant. How would you go about forecasting demand and sales?
3. If a manager asked you whether to use time-series forecasting models or regression-based forecasting models, what would you tell him or her?
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B) Define useful capacity measures for a(n)
a. Brewery.
b. Airline.
c. Movie theater. d. Pizza restaurant. f. Amusement park.
Briefly describe a business you are familiar with and explain how it might use each of the five ways to adjust its short-term capacity levels.
Add or Share Equipment
Sell Unused Capacity
Change Labor Capacity and Schedules
Change Labor Skill Mix
Shift Work to Slack Periods
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