A manager uses this equation to predict demand for landscaping services: Ft= 10 + 5tOver the past eight periods, demand has been as follows:Period, t: 1Demand:15221Period, t Tracking signal123456783233053263842Click here for the Excel Data FileCompute the tracking signals for Periods 1-8. (Negative values should be indicated bya minus sign. Round your intermediate calculations and final answers to 3 decimalplaces.)847

To track the effectiveness of a forecasting or inventory control system, the phrase "tracking…

Answered: A manager uses this equation to predict…

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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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
The sale data is shown as follows: Month 1: 11 Month 2: 52 Month 3: 95 Using Weighted Simple Moving Average method (Month 1: 0.2; Month 2: 0.3; Month 3: 0.5) to forecast the sales of Month 4: ________ (Round your answer to the nearest integer)
Hi, need help solving for part B. Thank you.
Sarah has been custom manufacturing sweaters now for 7 years. Her annual sales are shown below. Year Sales 1 178 2 215 3 233 4 301 5 337 6 330 7 361 What are her forecasted sales for year 8 using a 5 year weighted average where w1=.4, w2=.3, w3=.15, w4=.1, w5=.05? What are her forecasted sales for year 8 using exponential smoothing? Assume year 7 forecast was 323. Select your own alpha. Which forecast method is the best for Sarah to use based on MAD? Why?
Use exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, � = 0.3, and let the initial trend value be 12 and the initial forecast be 200
The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: 1 3,000 2 3,950 3 3,400 Year Mileage a) Using a 2-year moving average, the forecast for year 6 = miles (round your response to the nearest whole number). 4 3,750 5 3,750
Sales (in thousands) of ABC Co. for the previous 7 months are 80, 82, 88, 95, 103, 105 and 122 respectively. Forecast the sales by 4 point moving average method for the forthcoming period O a. 102600 units O b. 110000 units O c. 106250 units O d. 113500 units
The K&R Camera shop sells all the latest cameras and accessories. To meet customer demand, the manager must forecast demand for items she sells. Lately the XR-42S zoom lens has been very popular. Recent monthly demand for this item has been as shown: Number of Lenses Month Sold 1 12 17 2 3 4 15 20 18 23 6.
A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures in terms of the number of meals served as follows (Please fill the empty cells of the following table): Weeks Number of Meals 3-periods Moving Average [Actual - Forecast] (Actual - Forecast)2 1 60 -- -- -- 2 96 -- -- -- 3 103 -- -- -- 4 61 5 122 6 101 1. Which one of the following is closest to the forecast of the next week ( F7 ) for the number of meals to be served daily using the 3-periods moving average method ? a)143 b)95 c)57 d)62 2. Which one of the following is closest to the forecast error ( in terms of MAD ) for the weeks 4, 5 and 6 using the 3-periods moving average method ? a)22 b)29 c)30 d)24 3. What is the forecast error ( in terms of MSE ) for the weeks 4, 5 and 6 using the 3-periods moving average method ? a)641 b)577 c)705 d)897
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table: YEAR DEMAND FOR FERTILIZER (1,000S OF BAGS) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15 a) Develop a 3-year moving average to forecast demand?
The demand data for Double T Computer Services appears below. The company wants you to forecast the demand for period 4. What is your forecast using the least squares method? Period Demand 1 37 2 40 3 40
12.7 The Intrepid mutual fund of growth stocks has had the following average monthly price for the past 10 months. Month 1 2 3 4 5 6 7 8 9 10 Fund Price 62.7 63.9 68.0 66.4 67.2 65.8 68.2 69.3 67.2 70.1 Compute the exponentially smoothed forecast with a = 0.40, the adjusted exponentially smoothed forecast with a = 0.40 and ß = 0.30, and the linear trend line forecast. Compare the accuracy of the three forecasts using cumulative error and MAD, and indicate which forecast appears to be most accurate.

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