2GMTN Zambiall78%3:30 PM< OperationsManagement_HW1..4.12 Consider the following actual and forecast demand lev-els for Big Mac hamburgers at a local McDonald's restaurant:DayActual DemandForecast DemandMondayTuesdayWednesdayThursdayFriday8888728868844880The forecast for Monday was derived by observing Monday'sdemand level and setting Monday's forecast level equal to thisdemand level. Subsequent forecasts were derived by using exponen-tial smoothing with a smoothing constant of 0.25. Using this expo-nential smoothing method, what is the forecast for Big Mac demandfor Friday? PxDownload-(1.009 9KB)Comments (0)SendMore

Given Data, Day Actual demand Forecast Demand Monday 88 88 Tuesday 72 88…

Answered: 2G MTN Zambia ll 78% 3:30 PM <…

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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Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows:
Amalgamated Products which produces chemical materials has the following demand pattern for one of its key products. Weekly demand data is show below: Week Demand 1 1000 2 1250 3 800 4 1900 5 1640 6 2200 7 1870 8 2670 9 3210 10 2850 11 2200 12 2980 13 3790 14 4210 15 4716 Apply the Holt’s Model in forecasting the demand for period 16 What are the optimal values for alpha and beta if the decision-maker wishes to restrict both values to be between 0.25 and 0.65 What is the value of the minimized error term in this context? Show all related EXCEL plotsＢ Note: Include all EXCEL regression output and any plots
Suppose you are working for a baking company in Bangladesh. What are the relevant factors you will consider for forecasting? What technique would you apply? How would you reduce forecast error in this case?The company must have to be any Bangladeshi banking company
Use exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, � = 0.3, and let the initial trend value be 12 and the initial forecast be 200
solve all parts within 30 mins
8.6 Using exponential smoothing, calculate the forecasts for months 2, 3, 4, 5, and 6. The smoothing constant is 0.2, and the old forecast for month 1 is 245. Month 1 2 3 4 5 6 LO Actual Demand 260 230 225 245 250 Forecast Demand
2. Fastway is a parcel delivery company based in Pretoria. It measures demand on a weekly basis in terms of the number of parcels which it is given to deliver (irrespective of the size of each parcel). The forecast for week 20 is 63. The table below shows actual demands for Fastway. Week Actual demand 20 63 21 62 22 67 23 66 24 67 25 69 26 65 27 71 28 68 29 68 30 70 31 72 32 66 33 68 34 67 Predict the forecast for week 35 using an exponential smoothing with a smoothing constant of 0.20.
b4 need urgent in 15 minutes
Apply the moving average with base m=4 forecasting technique of the data to estimate the demand in week 13.
st Info Period 1 2 3 4 5 6 7 8 9 10 K Develop two exponential smoothing forecasts for periods 2 through 11. For the first forecast, use a = 0.3. For the second, use α = 0.7. Assume that your forecast for period 1 was 205. Click the icon to view the time series data. Find the exponential smoothing forecast for each period when a = 0.3 (enter your responses rounded to one decimal place). Demand 222 249 222 228 235 155 161 153 163 152 X Period 1 2 Demand 222 249 Forecast (α = 0.3) 205
Apply the exponential smoothing with alpha = 0.2 forecasting technique of the data to estimate the demand in week 13.
Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two forecasting methods to see which method was better over this period. MONTH ACTUAL January 120 February 145 March 146 April 171 May 154 June 182 July 138 August 135 September 146 a. Forecast April through September using a three-month moving average. b. Use simple exponential smoothing with an alpha of 0.20 to estimate April through September, using the average of January through March as the initial forecast for April. c-1. Calculate MAD for Three-month moving average and Exponential smoothing. c-2. Use MAD to decide which method produced the better forecast over the six-month period.

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