1. The number of bushels of apples sold at a roadside fruit stand over a 12-day period were PROBLEMS as follows: Day Numbar Sold Day Number Sold 25 7 35 32 38 8 31 29 33 9. 10 40 34 37 37 32 11 12 If a two-period moving average has been used to forecast sales, what were the daily forecasts starting with the forecast for day 3? If a four-period moving average has been used, what were the forecasts for eacn uay starting with day 5? Plot the original data and each set of forecasts on the same graph. Which forecast has the greater tendency to smooth? Which forecast has the better ability to respond quickly to changes? What does use of the term sales instead of demand imply? b. C. 2. 2. If exponential smoothing with a = .4 had been used to forecast daily sales for apples in Problem 1, determine what the daily forecasts would have been. Then, plot the original data, the exponential forecasts, and a set of naive forecasts on the same graph. Based on a visual comparison, is the naive more accurate or less accurate than the exponential smoothing method, or are they about the same? 1234t56

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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1. The number of bushels of apples sold at a roadside fruit stand over a 12-day period were
PROBLEMS
as follows:
Day
Numbar Sold Day Number Sold
25
35
31
29
33
32
38
10
40
37
32
34
11
37
12
If a two-period moving average has been used to forecast sales, what were the daily
forecasts starting with the forecast for day 3?
If a four-period moving average has been used, what were the forecasts for eacn uay
starting with day 5?
Plot the original data and each set of forecasts on the same graph. Which forecast
has the greater tendency to smooth? Which forecast has the better ability to respond
quickly to changes?
What does use of the term sales instead of demand imply?
b.
C.
2. If exponential smoothing with a = .4 had been used to forecast daily sales for apples in
Problem 1, determine what the daily forecasts would have been. Then, plot the original
data, the exponential forecasts, and a set of naive forecasts on the same graph. Based
on a visual comparison, is the naive more accurate or less accurate than the exponential
smoothing method, or are they about the same?
123 456
Transcribed Image Text:1. The number of bushels of apples sold at a roadside fruit stand over a 12-day period were PROBLEMS as follows: Day Numbar Sold Day Number Sold 25 35 31 29 33 32 38 10 40 37 32 34 11 37 12 If a two-period moving average has been used to forecast sales, what were the daily forecasts starting with the forecast for day 3? If a four-period moving average has been used, what were the forecasts for eacn uay starting with day 5? Plot the original data and each set of forecasts on the same graph. Which forecast has the greater tendency to smooth? Which forecast has the better ability to respond quickly to changes? What does use of the term sales instead of demand imply? b. C. 2. If exponential smoothing with a = .4 had been used to forecast daily sales for apples in Problem 1, determine what the daily forecasts would have been. Then, plot the original data, the exponential forecasts, and a set of naive forecasts on the same graph. Based on a visual comparison, is the naive more accurate or less accurate than the exponential smoothing method, or are they about the same? 123 456
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