Freight car loadings over an 18-week period at a busy port are as follows. Week 13 14 15 16 17 18…
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Question “Freight car loadings over an 18-week period at a busy port are as follows. Week 13 14 15 16 17 18…”
Freight car loadings over an 18-week period at a busy port are as follows. Week 13 14 15 16 17 18 Week 1 Number 280 295 310 295 310 320 Week Number 350 400 450 435 485 535 Number 545 585 600 615 630 10 12 a. Determine a linear trend line for expected freight car loadings. (Round your intermediate calculations and final answers to 2 decimal places.) b. Use the above trend equation to predict expected loadings for Weeks 20 & 21. (Round your final answers to 2 decimal places.) The forecasted demand for Week 20 isand for Week 21 is c. The manager intends to install new equipment when the volume exceeds 860 loadings per week. Assuming the current trend continues, in which week (at the earliest) should the loading volume reach that level? (Use the rounded answers, as required, from any previous part of this problem. Do not round any other intermediate calculations. Round your final answer to 2 decimal places.) It should reach 860 loadings in Week
Answer
As shown below, we use Excel to answer the question:
As shown below, we prepare the table:
a) As you can see, the equation for the line is y = 221.41 + 22,87 t
b) To determine forecast demand:
As shown in the table below, we calculate:
Therefore, Week 20’s forecast demand is 678.81 while week 21’s forecast demand is 701.68
c. To reach 860 loading, the table is extended until it reaches 860.
It should be 860 by week 29, as seen above.
Conclusion
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