3) Seasonality: The following data represent dinner sales at a busy restaurant. Use linearregression to predict sales for each day of week 5 and the total sales for week 5. Estimate thepercentage of weekly sales that occur over the weekend (include Friday, Saturday, andSunday). Finally, determine which days of the week are increasing and decreasing in sales, usingthe slopes of the LR lines.WeekMonWedFriSatSunTue177170Thu190Total2701521803213861662182034024271673333572293158170170205163173158225349433212a) Graph the seasonal data and attach the graph to this page.b) Determine the slope for each day of the week.MonTueWedThuFriSatSunTotalSlopec) Estimate the percentage of weekend sales in week 5:d) For which day are sales increasing the fastest?e) For which day are sales decreasing the fastest?

The regression equation is of the form y=mx+b where, y is the value of a dependent variable, m is…

Answered: a) Graph the seasonal data and attach…

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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Given below are the demands of a certain product over the past 10 weeks. Week | 1 2 3 4 | 5 67|89 | 10 Demand 50 64 66 68 67 63 69 67 65 66 (a) Forecast the demand for the 13th week using the following techniques: i. 3- week weighted moving average with weights 0.2, 0.3, and 0.5 ii. Exponential smoothing with a smoothing constant equal to 0.85 ii. Adjusted exponential smoothing with a smoothing constant equal to 0.85 and smoothing constant for trend equal to 0.65 (b) Compute for the accuracy of each model using the mean squared error. Based on the computed MSE, what is the best forecasting technique for this time series?
Sales of Volkswagen's popular Beetle have grown steadily at auto dealerships in Nevada during the past 5 years (see table below) Year Sales 1 455 2 495 516 4 563 584 a) Forecasted sales for year 6 using a 3-year moving average is sales (round your response to one decimal place). b) The MAD for a 3-year moving average based forecast is sales (round your response to one decimal place). c) The MSE for a 3-year moving average based forecast is sales (round your response to the nearest whole number).
a. Forecasting Methodology: Choose an appropriate demand forecasting method (e.g.,qualitative, quantitative, or a combination) based on the nature of your product/serviceand available data. Explain the chosen method and its rationale
(4) Exponential smoothing with a smoothing constant equal to 0.15, assuming a March forecast of 15(000). (Round your intermediate forecast values and final answer to 2 decimal places.) Forecast thousands (5) A linear trend equation. (Round your intermediate calculations and final answer to 2 decimal places.) Yt thousands
6. Consider the following data table. (12 Points) a) Forecast demand using exponential smoothing with an apha of 0.25, and an initial forecast of 128.0 for period 1. b) Calculate the MAD and MSE. Period Real demand 130 138 129 140 3 4 5 133
Week Two Years Agc Last Year Using data in columns A-C create a forecast using the Simple Moving Average method based on 10 weeks of data 8 2 4 45 3 4 7 Using data in columns A-C create a forecast using Linear Regression 4 7 49 5 10 33 6 29 10 Which forecast method is the best? How do you know that method is the best? 7 38 7 8. 8 9 9 44 10 6 11 46 43 12 48 3 13 9 14 8. 47 15 1 5 16 9 41 17 38 6. 18 46 4 19 45 32 20 10 39 21 8 2 22 7 9 23 38 42 24 33 37 25 1 26 27 49 1 28 36 5 29 1 8. 30 4 31 46 42 32 38 33 14 36 34 43 8. 35 3 39 36 37 27 50 38 6 39 2 49 40 41 41 32 6 42 37 39 43 9 8 44 10 45 33 8 46 39 46 47 37 48 6 6 49 31 50 40 38
Use simple exponential smoothing with a=0.6 to forecast chargers sales for February through May. Assume that the forecast for January was 24 chargers. *** Month January Charger Sales 42 February 33 March 28 April 59 May ? a) What will be the forecast for May? b) Calculate the MSE.
Period 1 2 3 4 5 New Accounts Period 201 215 212 229 236 6 7 8 9 10 New Accounts Period 233 249 253 254 268 11 12 13 14 15 New Accounts 282 276 281 289 311
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?
The last four weekly values of sales were 120, 90, 100, 80 and 85 units. The last four forecasts for the same four weeks were 105, 80, 95, 90 and 95 units. Calculate MAPE
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?

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