Freight car loading over a 10-week period at a busy port are as follows; (40 pts) ----------------------------------------------------------------------------------------------- Week 1 2 3 4 5 6 7 8 9 10 Number 220 250 280 270 300 310 350 360 400 420 ----------------------------------------------------------------------------------------------a) Forecast week 11, by using exponential soothing, use a(alpha) = 0.7, forecast of week6 = 320.b) Develop the trend equation to forecast week 20 and 25c) The manager intends to install new equipment when the volume exceeds 800 loadings per week. Assuming the current trend continues, the loading volume will reach that level in approximately what week?d) Compute MAD and MSE for the trend equation?

In exponential smoothing method of forecasting, each new forecast is based on a previous forecast…

Answered: a) Forecast week 11, by using…

Practical Management Science

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ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Freight car loading over a 10-week period at a busy port are as follows; (40 pts)

-----------------------------------------------------------------------------------------------

Week 1 2 3 4 5 6 7 8 9 10

Number 220 250 280 270 300 310 350 360 400 420

----------------------------------------------------------------------------------------------

a) Forecast week 11, by using exponential soothing, use a(alpha) = 0.7, forecast of week6 = 320.
b) Develop the trend equation to forecast week 20 and 25
c) The manager intends to install new equipment when the volume exceeds 800 loadings per week.

Assuming the current trend continues, the loading volume will reach that level in approximately what week?

d) Compute MAD and MSE for the trend equation?

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