A manager has just received an evaluation from an analyst on two potential forecasting alternatives.The analyst is indifferent between the two alternatives, saying that they should be equally effective.Period 1 2 3 4 5 6 7 8 9 10Data 37 39 37 39 45 49 47 49 51 54Alt. 1 36 38 40 42 46 46 46 48 52 55Alt. 2 36 37 38 38 41 52 47 48 52 53a. What would cause the analyst to reach this conclusion?b. What information can you add to enhance the analysis?

Q: he following specific seasonal factors were estimated for the month of October:   65.4 76.8 66.9…

A: Forecasting entails predicting or estimating future events or situations using data from the past…

Q: snip

A: When one forecasting technique is more accurate than another technique when applied to past data the…

Q: Wna IS Torecast blas? is blas good or bad? In tne following series do you see forecast blas? would…

A: A forecast bias occurs when there are differences between actual sales (outcome) and previously…

Q: What is the project duration?

A: As per Bartleby guidelines, we can only solve one question at a time...Kindly upload the other…

Q: which of the following are charactersitics of qualitative forecasting methods? 1. Function of past…

A: Companies use the qualitative forecasting method when the company is not able to make decisions…

Q: a) Using simple linear regression, the forecast for the number of disk drives 240.2 disk drives…

A: Here, for each year, I have been given the number of disk drives, I would apply the simple linear…

Q: The analytics department is researching the past five years of their company's sales to better…

A: Step 1: Identify the formula for Mean Square Error (MSE) of a forecastMSE = ∑e2/nwhere:∑e2 = Total…

Q: What type of forecast model would be most appropriate for a company that was introducing a new…

A: Forecast model:A forecast model is a mathematical model used to forecast future demand for a…

Q: Question 45 What is the "seasonal factor" for Q1? O 0.31 0.18 O 0.25 0.27

A: Formulae used : Weighted Moving Average:  WMA = ∑t=1nWt×VtWt Where:  V = Actual valueW = Weighting…

Q: Add your personal life experiences or engagement on topic of forecasting and Quality management.

A: Forecasting and Quality Management. Forecasting is that the process of estimate and predicate about…

Q: Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled…

A: Find the given details below: Given details:Predicted…

Q: Using trend-adjusted exponential smoothing, Forecasts (F₂), Trend (T₂), and Forecasts Including…

A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…

Q: Cinema HD an online movie streaming service that offers a wide variety of award-winning TV shows,…

A: This question is related to the topic- Forecasting and This topic falls under Business-Operations…

Q: K The following table gives the number of pints of type A blood used at Damascus Hospital in the…

A: The objective of the question is to forecast the demand for the week of October 12 using three…

Q: Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10…

A: Given that:Initial Forecast = 20Remember the formula for calculating Forecast =Error = Demand -…

Q: Calculate the forecast for Week 16 using  - a 2-period moving average  - a 3-period moving average…

A: Given data is

Q: TOC/ Tunis Oil Co. started 4 months ago. TOC noticed that its production increased significantly.…

A: The weighted moving average is calculated by multiplying each observation in the data set by a…

Q: A large Portland manufacturing would like to forecast the monthly demand for a piece of…

A: Given that: Month Actual Demand 1 14 2 17 3 20 4 21 5 25

Q: Explain qualitative forecasting

A: Qualitative forecasting methods utilize subjective judgment, expert opinions, and qualitative data…

Q: The MAD for Method 1 = thousand gallons (round your response to three decimal places).

A: WeekActualForecast10.680.85211.05310.9741.041.22

Q: Companies are using more external data and unstructured data in their models of forecasting and…

A: Planning in business is the initial and essential task for the management to perform. It requires…

Q: Calculate the forecast for week 16 using  - a 2-period moving avergage - a 3-period moving average

A: Forecasting means predicting in advance the future sales.

Q: a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) 1 2 Answer…

A: Here, for each month, I am given actual sales data, forecast 1 data, and forecast 2 data, Now, I…

Q: A manager wants to choose one of two forecasting alternatives: moving average and exponential…

A: Given data is

Q: Given the following data of actual sales and forecast for the five months: Month 1, Month 2, Month…

A: Given data is

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.