4. Quarterly demand for smartphones at a retailer is as shown. After obtaining initial estimates for level, trend, and seasonal factors, forecast quarterly demand for year 5 using Winter's model with alpha=0.05, beta = 0.10, and gamma = 0.15. Evaluate the MAD, MAPE, and MSE for the forecast. Can you find values of a, ß, and, y that result in a lower MAD or MSE? Year 1 2 3 st 4 Quarter I || ||| IV 1 || ||| IV 1 || ||| IV I || IV Demand 513 932 1,509 1,902 693 1,163 1,857 2,469 846 1,439 2,271 3,079 1,070 1,751 2,785 3,613
4. Quarterly demand for smartphones at a retailer is as shown. After obtaining initial estimates for level, trend, and seasonal factors, forecast quarterly demand for year 5 using Winter's model with alpha=0.05, beta = 0.10, and gamma = 0.15. Evaluate the MAD, MAPE, and MSE for the forecast. Can you find values of a, ß, and, y that result in a lower MAD or MSE? Year 1 2 3 st 4 Quarter I || ||| IV 1 || ||| IV 1 || ||| IV I || IV Demand 513 932 1,509 1,902 693 1,163 1,857 2,469 846 1,439 2,271 3,079 1,070 1,751 2,785 3,613
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...
Related questions
Question
![4. Quarterly demand for smartphones at a retailer is as shown. After obtaining initial estimates for level,
trend, and seasonal factors, forecast quarterly demand for year 5 using Winter's model with alpha=0.05,
beta = 0.10, and gamma = 0.15. Evaluate the MAD, MAPE, and MSE for the forecast. Can you find values
of a, ß, and, y that result in a lower MAD or MSE?
Year
1
2
3
Quarter
1
||
|||
IV
I
||
|||
IV
|
||
|||
I
||
|||
IV
Demand
513
932
1,509
1,902
693
1,163
1,857
2,469
846
1,439
2,271
3,079
1,070
1,751
2,785
3,613](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F86c8dcbb-d46d-4c91-a740-ef32ebf33ae0%2F7d413ea1-5e06-4399-9aab-3add14c561c1%2Fg8tzmyd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. Quarterly demand for smartphones at a retailer is as shown. After obtaining initial estimates for level,
trend, and seasonal factors, forecast quarterly demand for year 5 using Winter's model with alpha=0.05,
beta = 0.10, and gamma = 0.15. Evaluate the MAD, MAPE, and MSE for the forecast. Can you find values
of a, ß, and, y that result in a lower MAD or MSE?
Year
1
2
3
Quarter
1
||
|||
IV
I
||
|||
IV
|
||
|||
I
||
|||
IV
Demand
513
932
1,509
1,902
693
1,163
1,857
2,469
846
1,439
2,271
3,079
1,070
1,751
2,785
3,613
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VIEWStep 3 Calculate the forecast using Winter's method
VIEWStep 4 Calculate MAD, MSE, and MAPE
VIEWStep 5 Use Solver to find the lower value of MAD
VIEWStep 6 Use Solver to find the lower value of MSE
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