A company wants to produce a weighted moving average forecast for April with theweights 0.40, 0.35, and 0.25 assigned to March, February, and January respectively.If the company had demands of 5,000 in January, 4,750 in February, and 5,200 inMarch, then April's forecast is5000.004992.504962.504983.33Page 4 of 20Previous PageNext Page36°C

Forecasting is a method of predicting future trends, based on historical data.

Answered: A company wants to produce a weighted…

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...

See similar textbooks

Similar questions

XYZ Chips Inc. (XCI) produces Centrino-type chips. The market has been inclining with ups and downs during the last eight years because of its new chips. The demands over the last 12 periods were 95, 115, 130, 122, 105, 125, 140, 134, 125, 142, 160, and 153 thousand pieces. Forecast the demand for the next 4 periods (periods 13 to 16) using an appropriate forecasting technique.
Maria sells banana que every afternoon. She sells her product everyday except during Sundays. The number of pieces sold last week were 57, 43, 37, 40, 55, and 47, respectively. Although actual sales are given, compute for the forecasted quantity using the following forecasting techniques: 1. Naïve; 2. 2-day moving average; and
Explain how can does the number of periods in a moving average affect the responsiveness of the forecast?
Digicel’s cell phone sales over the last four months are as follows: January = 100 February = 120 March = 130 April = 150 Using the Naïve Approach forecasting method, the forecast for May would be:
Use exponential smoothing with = 0.2 to calculate the forecast for April from the data below. Assume the forecast for January is 7. Period Demand Jan 10 Feb 8 Mar 7
Problem 18-3 (Algo) Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note, the 1st quarter is Jan, Feb, and Mar; 2nd quarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, Dec. Last year This year JAN 150 170 FEB MAR 170 190 190 APR MAY 235 225 175 245 270 Forecast for the third quarter JUN 250 215 SEP 175 AUG JUL 195 185 OCT 250 ▸ NOV DEC 275 295
Forecasting Historical records show the past ten Hood Lacrosse games having the following attendance:5348, 7814, 6515, 5785, 5984, 6522, 6286, 5581, 6714, 7347Assuming no seasonal component, what should the concessions staff use as an estimate for thenext game? Please use a four-period moving average for this forecast. please use excel for solving
Use the sales data in the table ( attached Image) and apply the same forecast method when α = 0.1, 0.2, 0.3, 0.4, 0.5, 0.6, 0.7, 0.8, 0.9, and 1. What is the best value for α? What does the best value of α indicate or show in regards to the forecast model? (Hint: Use Microsoft Excel to solve the question)
Tom’s Towing LLC operates a fleet of tow trucks that it sends to help drivers in needon the nearby highway. The numbers of calls requesting a tow truck for Monday, Tuesday, Wednesday, and Thursday were 27, 18, 21, and 15, respectively. What would be itsforecast for Friday using a naïve forecasting approach?
The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this year follows: The value of the forecast is Week Actual No. of Patients 45 49 IT 56 40 44 55 Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast. Your method uses four actual demand levels, with weights of 0.333 on the present period, 0.250 one period ago, 0.250 two periods ago, and 0.167 three periods ago. a) What is the value of your forecast? patients (round your response to two decimal places). 123456
Considering the fact that the number of students is relatively constant throughout the academic year, the college's cafeteria is planning for the second semester based of the actual sales the first semester. Month Actual Sales of Fall 2016 Forecast of Spring 2017 September 250 October 300 November 280 December 200 With the given information, can the forecast of November be obtained using a 3-month weighted moving average? Explain you answer.
The demand for a product of a company in each of the last twelve months is shown in the table below; Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Demand 37 40 41 37 45 50 43 47 56 52 55 54 Use the table to compute the following forecast demand for the company; a. Four months simple moving average b. Four months weighted moving average using the weight of 40%, 30% and 20% and 10%respectively.

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS

A company wants to produce a weighted moving average forecast for April with the weights 0.40, 0.35, and 0.25 assigned to March, February, and January respectively. If the company had demands of 5,000 in January, 4,750 in February, and 5,200 in March, then April's forecast is