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4. Simple Exponential Smoothing: Use a smoothing parameter, α = 0.3. Month Ft 1 2 3 4 5 678 9 10 No. of Cases (Xt) 105 115 120 120 125 125 130 140 145 150 Forecast for 11th month= et Mean Absolute Deviation (MAD) = Mean Absolute Percentage Error (MAPE) = Mean Squeared Error (MSE) = |e| % e Sq e Ft+1

4. Simple Exponential Smoothing: Use a smoothing parameter, α = 0.3. Month Ft 1 2 3 4 5 678 9 10 No. of Cases (Xt) 105 115 120 120 125 125 130 140 145 150 Forecast for 11th month= et Mean Absolute Deviation (MAD) = Mean Absolute Percentage Error (MAPE) = Mean Squeared Error (MSE) = |e| % e Sq e Ft+1

Practical Management Science
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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Forecasting on Operation Management

4. Simple Exponential Smoothing: Use a smoothing parameter, α = 0.3. Ft Month 1 2 3 4 5 6 7 8 9 10 No. of Cases (Xt) 105 115 120 120 125 125 130 140 145 150 Forecast for 11th month= et Mean Absolute Deviation (MAD) = Mean Absolute Percentage Error (MAPE) = Mean Squeared Error (MSE) = |e| Page 5 of 7 % e Sq e Ft+1
Transcribed Image Text:4. Simple Exponential Smoothing: Use a smoothing parameter, α = 0.3. Ft Month 1 2 3 4 5 6 7 8 9 10 No. of Cases (Xt) 105 115 120 120 125 125 130 140 145 150 Forecast for 11th month= et Mean Absolute Deviation (MAD) = Mean Absolute Percentage Error (MAPE) = Mean Squeared Error (MSE) = |e| Page 5 of 7 % e Sq e Ft+1
5. Time Series Regression: t (1) 1 2 3 4 5 6 7 8 (2) (3) (4) (5) b= a = F₁ = a + bt = Month 9 10 Forecast for 11th month= No. of Cases (xt) 105 115 120 120 125 125 130 140 145 150 X 105 115 120 120 125 Ft Mean Absolute Deviation (MAD) = Mean Absolute Percentage Error (MAPE) = Mean Squeared Error (MSE) = et Page 6 of 7 tx % e t² Sq e
Transcribed Image Text:5. Time Series Regression: t (1) 1 2 3 4 5 6 7 8 (2) (3) (4) (5) b= a = F₁ = a + bt = Month 9 10 Forecast for 11th month= No. of Cases (xt) 105 115 120 120 125 125 130 140 145 150 X 105 115 120 120 125 Ft Mean Absolute Deviation (MAD) = Mean Absolute Percentage Error (MAPE) = Mean Squeared Error (MSE) = et Page 6 of 7 tx % e t² Sq e
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