Saintleo COM315 Module 8 Discussion Latest 2018 December
COM315 Decision Support Systems
Module 8 Discussion
1. 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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