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1. A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 90 percent of capacity; actual usage was 87.6 percent of сарacity. A smoothing constant of .1 is used. a. Prepare a forecast for September. b. Assuming actual September usage of 92 percent, prepare a forecast for October usage.

1. A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 90 percent of capacity; actual usage was 87.6 percent of сарacity. A smoothing constant of .1 is used. a. Prepare a forecast for September. b. Assuming actual September usage of 92 percent, prepare a forecast for October usage.

Practical Management Science
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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Problems: 1. A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 90 percent of capacity; actual usage was 87.6 percent of сарacity. A smoothing constant of .1 is used. a. Prepare a forecast for September. b. Assuming actual September usage of 92 percent, prepare a forecast for October usage. 2. An electrical contractor's records during the last five weeks indicate the number of job requests: Week: 3 4 30 32 28 Requests: 32 31 Predict the number of requests for week 6 using each of these methods: a. Naive. b. A four-period moving average.
Transcribed Image Text:Problems: 1. A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 90 percent of capacity; actual usage was 87.6 percent of сарacity. A smoothing constant of .1 is used. a. Prepare a forecast for September. b. Assuming actual September usage of 92 percent, prepare a forecast for October usage. 2. An electrical contractor's records during the last five weeks indicate the number of job requests: Week: 3 4 30 32 28 Requests: 32 31 Predict the number of requests for week 6 using each 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 the week 2 forecast. 3. Forecasts based on averages. Given the following data: Period Number of Complaints 1 70 2 75 3 65 4 68 74 Prepare a forecast for period 6 using each of these approaches: a. A weighted average using weights of .50 (most recent), .30, and .20. b. Exponential smoothing with a smoothing constant of .40.
Transcribed Image Text:b. A four-period moving average. c. Exponential smoothing with .50. Use 20 for the week 2 forecast. 3. Forecasts based on averages. Given the following data: Period Number of Complaints 1 70 2 75 3 65 4 68 74 Prepare a forecast for period 6 using each of these approaches: a. A weighted average using weights of .50 (most recent), .30, and .20. b. Exponential smoothing with a smoothing constant of .40.
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