Need help with my Business question – I’m studying for my class.
Question 1 (40%)
Gibson Products produces cast bronze valves for use in offshore oil platforms. Currently, Gibson
produces 1600 valves per day
. The 20 workers at Gibson work from 7 a.m. until 4 .m., with 30 minutes off for lunch and a 15-minute break during the morning work session and another 15 minute break during the afternoon work session. Gibson is in a competitive industry, and needs to increase productivity to stay competitive. They feel that a 20% increase is needed.
Gibson’s management believes that the 20% increase will not be possible without a change in
working conditions, so they decide to change the work hours.
The new schedule calls on workers to work from 7:30 a.m. until 4:30 p
.m.
, during which workers can
take one hour off at any time of their choosing
. Obviously, the number of paid hours is the same as
before, but production increases, perhaps because workers are given a bit more control over their
workday. After this change, valve production increased to 1800 units per day
a. Calculate labour productivity for the initial situation (prior to implementing the new work rules)
b. Calculate labour productivity for the hypothetical 20%
c. What is the productivity after the change in work rules?
d. Write a short Report analysing these result and provide a recommendation.Question 2 (60%)
Identify and explain the four components of a time series.
Conduct Research on the Thredbo Ski Resort in NSW to show different aspects of Time Series
Forecasting and how the resorts manage their operations.
You should aim to write around 1.5 to 2 pages to adequately address this questi
