The purpose of this simulation project is to provide you with an opportunity to use the POM-QM for Windowssoftware to solve a forecasting problem.
POM-QM for Windows software
For this part of this project, you will need to use the POM-QM for Windows software:
1.Read Appendix IV of the Operations Management (Heizer & Render, 2011) textbook.
2.Launch the POM-QM for Windows software and from the main menu select Module, and thenForecasting.
3.Next, select File, New, and Least Squares – Simple and Multiple regression.
Individual Project problem
1.Use the forecasting module that you opened in the POM-QM for Windows software to solve the case study on page 146 of the Heizer and Render (2011) textbook (Southwestern University). For this case study, you are required to build a forecasting model. Assume a linear regression forecasting model and build a model for each of the five games (five models in total) by using the forecasting module of the POM software.
2.Answer the three discussion questions for the case study, except the part requiring you to justify the forecasting technique (Heizer & Render, 2011, p.146), as linear regression would be used.