6. Tutoring Center needs to allocate tutors this week for office appointments, so it needsto forecast the number of students who will seek appointments. The director hasgathered the following time series data recently:Time PeriodCodeStudent AppointmentsJan 6 - 10195Jan 13 - 17280Jan 20 - 24365Jan 27 - 31450a) What is the naïve forecast for the number of student appointments for TimePeriod 5 (Feb 3 – 7)?b) What is the 2 week moving average for Time Period 5?c) What is the 3 week moving average for Time Period 5?d) What is the forecast for Time Period 5 using exponential smoothing with alpha =0.2 and a forecast 90 for Time Period 3?e) Is demand for appointments increasing or decreasing?

Note: - Since we can answer only up to three subparts we will answer the first three(a, b, and c)…

Answered: 6. Tutoring Center needs to allocate…

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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please answer in excel Jean’s Copiers sells and repairs photocopy machines. The manager needs weekly forecasts of service calls so that she can schedule the personnel. The manager uses α = 0.3 for exponential smoothing, and the forecast for the first week was 24 calls. The manager also uses 3 weekly moving averages technique. a) Using 3 period moving averages, forecast the number of calls for week 7. b) Using exponential smoothing, forecast the number of calls for week 7. c) Compare these two forecasting techniques using Mean Squared Errors (MSE) measure. Which one is better?
Week 1 2 4 Forecast Method 1 0.90 1.05 0.97 1.22 Actual Demand 0.72 1.05 1.00 0.97 Week 1 2 3 4 Forecast Method 2 0.82 1.19 0.90 1.17 Actual Demand 0.72 1.05 1.00 0.97 0 The MAD for Method 1 = thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1 = thousand gallons (round your response to three decimal places). The MAD for Method 2 = thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 2 = thousand gallons (round your response to three decimal places).
Problem 3-22 (Algo) 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:
How do exponential smoothing have benefits over shifting.averages as a forecasting tool?
QUESTION 9 Use the table below to answer the following questions (Choose only the letter) 3. Periods Observations 24 4 6 34 36 37 41 44 45 Q1: By using naive seasonal model and trend estimate, forecast period 8 A) 41 B) 39.25 C) 37.3 D) 44 Answer Q2: Caleuiation of the forecast error for period 7 according to the simple average method A) 9 B) 1 C) 36 D) 44 Answer Q3: Use the exponential smoothing technique with smoothing constants of 0.3 to forecast for periods 3 (The initial value - The First value) A) 36 B) 24 C) 27 D) 44 Answer
Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniques
Naïve method versus three period Moving Average The number of major plumbing repair jobs performed by Augur’s Plumbing Service in each of the last six months is listed below. Month Jobs October 92 November 94 December 98 January 95 February 99 March 104 Use the ‘textbook’ naïve method to forecast April jobs (Ft+1 = Xt + (Xt – Xt-1). Use the three- period moving average to forecast jobs in April Based upon the MAD (mean absolute deviation), determine whether the three-period moving average or textbook naïve method is more accurate, based upon forecasts for January through March.
Time period Actual sales 1 18 2 22 If the forecasting value of period 3 is 19.6 using exponential smoothing, the smoothing constant is what?
Forecast based on averages. Given the following data: Period Number of Complaints 1 70 2 75 3 65 4 68 5 74 Prepare a forecast for period 6 using each of these approaches: a. A weighted average using weights of .50 (most recent), .30, .20 b. Exponential smoothing with a smoothing constant of .40
4 Trinity General Hospital had the following number of patient admissions during the past 8 weeksWeek Patient Admissions1 1202 1453 954 1125 1306 1107 1008 140 a. Develop a 3-week weighted average forecast forWeek 4 through 9 with weightsW1 = 0.2W2 = 0.3W3 = 0.5 b. Forecast patient admissions for week 9 using simpleexponential smoothing with α = 0.2. Assume that the forecast for Week 2 (F2) is the naïve forecast.
Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for the past 12 weeks: 2 3 21 19 Week 1 Actual Passenger Miles (in thousands) 17 Week Forecasted Passenger Miles (in thousands) a) Assuming an initial forecast for week 1 of 17,000 miles, use exponential smoothing to compute miles for weeks 2 through 12. Use α = 0.2 (round your responses to two decimal places). 10 11 4 5 6 7 8 9 23 18 16 20 18 22 20 15 2 1 3 4 6 7 17.00 17.00 17.80 18.04 19.03 18.83 18.26 5 8 18.61 9 18.49 19.19 10 12 22 11 12
Question 1 ABC Restaurant has made a forecast for last week's operations vs Actual result of the forecast last week. Period Monday Tuesday Actual 112 110 113 120 140 Forecast 115 104 Wednesday 110 Thursday 115 Friday 135 Using this table above, solve for Mean Absolute Deviation (MAD) Note: Round up to the last 2 decimals example 9.6568->9.66

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