Problems:1. A dry cleaner uses exponential smoothing toforecast equipment usage at its main plant.Augustusage was forecasted to be 90 percent ofcapacity; actual usage was 87.6 percent ofсарacity. Asmoothing constant of .1 is used.a. Prepare a forecast for September.b. Assuming actual September usage of 92percent, prepare a forecast for October usage.2. An electrical contractor's records during thelast five weeks indicate the number of jobrequests:Week:34303228Requests:3231Predict the number of requests for week 6 usingeach of these methods:a. Naive.b. A four-period moving average. b. A four-period moving average.c. Exponential smoothing with .50. Use 20 for theweek 2 forecast.3. Forecasts based on averages. Given thefollowing data:PeriodNumber ofComplaints17027536546874Prepare a forecast for period 6 using each ofthese approaches:a. A weighted average using weights of .50 (mostrecent), .30, and .20.b. Exponential smoothing with a smoothingconstant of .40.

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Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The actual values for a data set all range between 100 and 200, and a manager develops a forecast model for the data. If the mean squared error and the mean absolute deviation error measurements for forecast are identical, what can we conclude about the forecast? a. This is mathematically impossible. b. The forecast is accurate. c. The forecast tends to overpredict. d. The forecast tends to underpredict.
please answer in excel Jean’s Copiers sells and repairs photocopy machines. The manager needs weekly forecasts of service calls so that she can schedule the personnel. The manager uses α = 0.3 for exponential smoothing, and the forecast for the first week was 24 calls. The manager also uses 3 weekly moving averages technique. a) Using 3 period moving averages, forecast the number of calls for week 7. b) Using exponential smoothing, forecast the number of calls for week 7. c) Compare these two forecasting techniques using Mean Squared Errors (MSE) measure. Which one is better?
QUESTION 9 Use the table below to answer the following questions (Choose only the letter) 3. Periods Observations 24 4 6 34 36 37 41 44 45 Q1: By using naive seasonal model and trend estimate, forecast period 8 A) 41 B) 39.25 C) 37.3 D) 44 Answer Q2: Caleuiation of the forecast error for period 7 according to the simple average method A) 9 B) 1 C) 36 D) 44 Answer Q3: Use the exponential smoothing technique with smoothing constants of 0.3 to forecast for periods 3 (The initial value - The First value) A) 36 B) 24 C) 27 D) 44 Answer
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Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for the past 12 weeks: 2 3 21 19 Week 1 Actual Passenger Miles (in thousands) 17 Week Forecasted Passenger Miles (in thousands) a) Assuming an initial forecast for week 1 of 17,000 miles, use exponential smoothing to compute miles for weeks 2 through 12. Use α = 0.2 (round your responses to two decimal places). 10 11 4 5 6 7 8 9 23 18 16 20 18 22 20 15 2 1 3 4 6 7 17.00 17.00 17.80 18.04 19.03 18.83 18.26 5 8 18.61 9 18.49 19.19 10 12 22 11 12

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