1. Compute the exponentially smoothed forecast of calls for each week. Assume an initial forecast of 50 calls in the first week and use x= 0.1. What is the forecast for the 25th week? 2. Reforecast each period using x = 0.6. 3. Actual calls during the 25th week were 85. Which smoothing constant provides a superior forecast? 4. Assuming an initial forecast for week 1 of 50 calls, prepare a 3-yr weighted moving average with the weights 0.50, 0.30, and 0.20. 5. In relation with #4, record actual calls during 25n week as 85, which between exponential smoothing with oc = 0,6 and 3-yr weighted moving gvergge?
1. Compute the exponentially smoothed forecast of calls for each week. Assume an initial forecast of 50 calls in the first week and use x= 0.1. What is the forecast for the 25th week? 2. Reforecast each period using x = 0.6. 3. Actual calls during the 25th week were 85. Which smoothing constant provides a superior forecast? 4. Assuming an initial forecast for week 1 of 50 calls, prepare a 3-yr weighted moving average with the weights 0.50, 0.30, and 0.20. 5. In relation with #4, record actual calls during 25n week as 85, which between exponential smoothing with oc = 0,6 and 3-yr weighted moving gvergge?
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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Transcribed Image Text:HOMEWORK ON FORECASTING
Emergency calls to Winter Park, Florida's 911 system, for the past 24 weeks are as follows:
WEEK
CALLS WEEK
CALLS WEEK
CALLS
1
50
9
35
17
55
35
10
20
18
40
3
25
11
15
19
35
4
40
12
40
20
60
5
45
13
55
21
75
35
14
35
22
50
20
15
25
23
40
8
30
16
55
24
65
1. Compute the exponentially smoothed forecast of calls for each week. Assume an initial
forecast of 50 calls in the first week and use x= 0.1. What is the forecast for the 25th week?
2. Reforecast each period using x = 0.6.
3. Actual calls during the 25th week were 85. Which smoothing constant provides a superior
forecast?
4. Assuming an initial forecast for week 1 of 50 calls, prepare a 3-yr weighted moving average
with the weights 0.50, 0.30, and 0.20.
5. In relation with #4, record actual calls during 25th week as 85, which between exponential
smoothing with c = 0.6 and 3-yr weighted moving average?
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