QM62 for Vickline only

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Question 1

1. The Excel file Closing Stock Prices provides data for four stocks over a one-month period.
a. Develop spreadsheet models for forecasting each of the stock prices using single moving average and single exponential smoothing.
b. Using MAD, MSE, and MAPE as guidance, find the best number of moving average periods and best smoothing constant for exponential smoothing.

1 - Closing Stock Prices

Closing Stock Prices
Date IBM INTC CSCO GE DJ Industrials
9/3/10 127.58 18.43 21.04 15.392 10447.93
9/7/10 125.95 18.12 20.58 15.44 10340.69
9/8/10 126.08 17.9 20.64 15.7 10387.01
9/9/10 126.36 18 20.61 15.91 10415.24
9/10/10 127.99 17.97 20.62 15.98 10462.77
9/13/10 129.61 18.557 21.26 16.25 10544.13
9/14/10 128.85 18.74 21.45 16.16 10526.49
9/15/10 129.43 18.72 21.59 16.34 10572.73
9/16/10 129.67 18.97 21.93 16.23 10594.83
9/17/10 130.19 18.81 21.863 16.29 10607.85
9/20/10 131.79 18.93 21.75 16.55 10753.62
9/21/10 131.98 19.14 21.64 16.52 10761.03
9/22/10 132.57 19.01 21.67 16.5 10739.31
9/23/10 131.67 18.98 21.53 16.14 10662.42
9/24/10 134.11 19.423 22.09 16.66 10860.26
9/27/10 134.65 19.235 22.11 16.43 10812.04
9/28/10 134.89 19.505 21.863 16.44 10858.14
9/29/10 135.48 19.24 21.87 16.36 10835.28
9/30/10 134.14 19.2 21.9 16.25 10788.05
10/1/10 135.64 19.32 21.91 16.36 10829.68

Question1

1. An airport ticket counter has a service rate of 180 per hour, exponentially distributed, with Poisson arrivals at the rate of 120 per hour . Find the operating characteristics of this system.

Question 3

3. Star Savings and Loan is planning to install a drive-through window. Transaction times at the drive-through are expected to average three minutes because customers would use it for simpler
transactions. The arrival rate is expected to be 10 customers per hour.
a. Compute the operating characteristics for the drive-through window queuing system.
b. The demand for drive-through services is expected to increase over the next several years. If you were the bank manager, how high would you let the average arrival rate increase before
considering adding a second drive-through window?

Question 4

4. Michael's Tire Company performs free tire balance and rotation for the life of any tires purchased there on an FCFS basis. One mechanic handles this and can usually complete the job in an average
of 18 minutes. Customers arrive at an average rate of two per hour for this service.
a. How long will a customer expect to wait before being served?
b. How long will a customer expect to spend at the shop?
c. How many customers will be waiting, on the average?
d. What is probability that the mechanic will be iddle?

Question 7

7. People arrive at a busy airport news kiosk at a rate that is uniformly distributed between five and ten seconds. Most people buy only one paper, which takes an average of six seconds, but may be
as little as three or as much as nine seconds, and 20% buy two papers, which takes between six and twelve seconds to buy. Develop a SimQuick model of this process and interpret the results.