b. Compute a weighted three-month moving average forecast for months 4 through 9.Assign weights of 0.55, 0.33, and 0.12 to the months in sequence, starting with themost recent month.c. Compare the two forecasts using MAD. Which forecast appears to be moreaccurate?12.3 The LawnPlus Fertilizer Company distributes fertilizer to various lawn and gardenshops. The company must base its quarterly production schedule on a forecast of howmany tons of fertilizer will be demanded from it. The company has gathered thefollowing data for the past three years from its sales records.Demand for Fertilizer (ton)Year123Quarter12345678910111210515093121140170105150150170110130a. Compute a three-quarter moving average forecast for quarters 4 through 13and compute the forecast error for each quarter.b. Compute a five-quarter moving average forecast for quarters 6 through 13 andcompute the forecast error for each quarter.c. Compute a weighted three-quarter moving average forecast using weights of0.50, 0.33, and 0.17 for the most recent, next recent, and most distant data,respectively, and compute the forecast error for each quarter.d. Compare the forecasts developed in parts (a), (b), and (c) using cumulativeerror. Which forecast appears to be most accurate? Do any exhibit any bias? 12.2 The manager of the I-85 Carpet outlet needs to be able to forecast accurately thedemand for Soft Shag carpet (its biggest seller). If the manager does not order enoughcarpet from the carpet mill, customers will buy their carpets from one of the outletsmany competitors. The manager has collected the following demand data for the past 8months.Month12345678Demand for Soft Shag Carpet (1000 yd)510681410912a. Compute a three-month moving average forecast for months 4 through 9.

NOTE: We are allowed to do one question only. Thus, the answer to 12.2 is as below: Forecasting…

Answered: 12.2 The manager of the I-85 Carpet…

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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QWE Inn has recorded the following number of rooms sold for the first quarter of the year: January 2100 February 2500 March 2550 What is the 3-month moving average forecast of rooms sold equal to for the month April?
Please do not give solution in image format thanku A small manufacturing firm has recorded a time series of the cost per unit for the firm’s leading product over the past eight years. Year 1 2 3 4 5 6 7 8 Cost/Unit ($) 20 24.5 28.2 27.5 26.6 30 31 36 a) If you are not given a base value or trend, what would be the forecast for the year 10 made at the end of year 8 (α=0.2, β=0.4). b) Forecast for the year 9 using 1) 5-month weighted average using 0.1,0.1,0.1,0.2,0.3, with the heaviest weight applied to the recent month 2) Exponential smoothing using α =0.2 and forecast of 21 for year 5 3) If α value was not provided in the question above, what value of α would you choose?
Need help computing the mad with both a=.20 and b =.20 values
24,000-seat arena that is home to the city’s professional basketball and ice hockey teams and that hosts a variety of concerts, trade shows, and conventions throughout the year. The hotel has experienced the following occupancy rates for the past 9 years, since the coliseum opened. Compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number only, two decimals) 1 83 2 78 3 75 4 81 5 86 6 85 7 89 8 90 9 86
Apply the 3-years moving average method to forecast the required demand for the year 2021 from the following historical data. Years 2012 2013 2014 2015 2016 2017 2018 2019 2020 Demand 245 325 300 350 295 400 450 380 500
Sales in hunderds) of XYX Cc for the previous 7 months are 80, 82. 88, 95, 103, 105 and 122 respectively. Forecast the sales by 4 point moving average method for the forthcoming penod Oa 10260 units Ob 10625 units Oc 11000 units d. 113500 units
The manager of the Carpet City outlet needs to make an accurate forecast of the demand for Soft Shag carpet (its biggest seller). If the manager does not order enough carpet from the carpet mill, customers will buy their carpet from one of Carpet City's many competitors. The manager has collected the following demand data for the past 8 months: Demand for Soft Shag Month Carpet (1,000 yd.) 1 8 2 12 3 7 4 9 5 15 6 11 7 10 8 12 Compute the exponentially smoothed forecast (a = .20) for the given data. Compute an adjusted exponentially smoothed forecast (with a = .20 and β = .20) for the given data
The following gives the number of pints of type Bblood used a t Woodlawn Hospital in the past 6 weeks: a) Forecast the dema nd for the week of October 12 using a3-week moving average.b) Use a 3-week weighted moving average, with weights of .I , .3,and .6, using .6 for the most recent week. Forecast demand forthe week of October 12.c) Compute the forecast for the week of October 12using exponentialsmoothing with a forecast for August 31 of 360 and a = .2
Following data on the demand for sewing machines manufactured by Taylor and Son Co. have been compiled for the past 10 years. Year 1971 1972 1973 1974 1975 78 1976 1977 1978 1979 99 1980 106 Demand 58 65 73 76 87 88 93 in (1000 units) Please estimate the value of demand for next 3 years using trend analysis.

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