1. Sales of humanoid robots by a technology company from January 2024 to December 2025 are shown in the table below: Time Number sold Month Number sold Time Number sold 2024.1 51 2024.6 54 2024.11 44 2024.2 35 2024.7 52 2024.12 47 2024.3 28 2024.8 48 2025.1 2024.4 32 2024.9 42 2024.5 48 2024.10 46 (a) What can the above table of time and sales be called in forecasting? (b) Using Naive approach, develop forecasts for 2025.1. (c) Using 3-Month Moving Average, develop forecasts for 2025.1. (d) Using Exponential Smoothing usinga-0.1, a-0.5, -0.9, develop forecasts for months from 2024.1 to 2025.1. Note: The initial predicted value is taken as the average of the first three observations. (e) Analysing the effect of the above three predictions (-0.1, 0.5, -0.9) by drawing a picture. What is the better value of a to predict by viewing the picture?

1. Sales of humanoid robots by a technology company from January 2024 to December 2025 are shown in the table below: Time Number sold Month Number sold Time Number sold 2024.1 51 2024.6 54 2024.11 44 2024.2 35 2024.7 52 2024.12 47 2024.3 28 2024.8 48 2025.1 2024.4 32 2024.9 42 2024.5 48 2024.10 46 (a) What can the above table of time and sales be called in forecasting? (b) Using Naive approach, develop forecasts for 2025.1. (c) Using 3-Month Moving Average, develop forecasts for 2025.1. (d) Using Exponential Smoothing usinga-0.1, a-0.5, -0.9, develop forecasts for months from 2024.1 to 2025.1. Note: The initial predicted value is taken as the average of the first three observations. (e) Analysing the effect of the above three predictions (-0.1, 0.5, -0.9) by drawing a picture. What is the better value of a to predict by viewing the picture?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter8: Evolutionary Solver: An Alternative Optimization Procedure

Section8.6: Fitting An S-shaped Curve

Problem 9P

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