Discussion

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?

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