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INDR 372 Production Planning and Control _INDR 372 Review Exercises for the Midterm Exam.
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April 2023

2022/2023

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INDR 372 Review Exercises for the Midterm Exam, Spring 2017 1. Let us assume that Dt = µ+ϵt (for t=1,2,...) where ϵt are independent and identically distributed normal random variables with mean 0 and variance σ2. Consider the following three forecasts: i) Ft = Dt-1 ii) Gt = 0.8Dt-1 + 0.2Dt-2, iii) Ht = Dt-1 + (Dt-2 - Dt-3). For all three forecasts, (a) Determine whether the forecast is unbiased. (b) Find the variance of the error et = Ft - Dt. 2. Let us assume that Dt = a+bt+ϵt (for t=1,2,...
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