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OUTLINE

OUTLINE. Questions? Did you hear or notice anything since last class that has to do something with this class ? Homework Solution New Homework Inventory overview Quiz on Monday. Inventory – what was different from what you expected?.

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OUTLINE

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  1. OUTLINE • Questions? • Did you hear or notice anything since last class that has to do something with this class? • Homework Solution • New Homework • Inventory overview • Quiz on Monday

  2. Inventory – what was different from what you expected?

  3. What do you think is the most important aspect of inventory management?

  4. Brief review of methods – what would you like explained again?

  5. Forecasting – what do you think this involves?

  6. Forecasting before mathematical methods

  7. Romania: False-Prophecy Penalty By THE ASSOCIATED PRESS Published: February 8, 2011 A month after the authorities began taxing Romania’s witches and fortunetellers on their trade, Parliament is considering a new bill that would subject them to fines or even prison if their predictions do not come true. Superstition is taken seriously in Romania, and officials passed the tax bill in an effort to increase revenues. The new bill would also require witches to have permits and provide their customers with receipts, and it would bar them from practicing near schools and churches. Witches argue they should not be blamed for the failure of their tools. “They can’t condemn witches; they should condemn the cards,” said BrataraBuzea, above, a “queen witch.”

  8. General approaches to forecasting

  9. What will we cover? Regression Smoothing Effect on decision making

  10. What is regression? Components?

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