A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial forecast of 46 for Day 8, an initial trend estimate of 2, and α = β = .3, develop demand forecasts for Days 9 through 16. Then compute the resultant MSE using the error values from Days 8 through 15. (Round your intermediate period-by-period forecast and error values to 3 decimal places. Round your final MSE answer to 3 decimal places.) MSE = Day: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Number sold: 31 32 35 38 38 42 42 43 41 44 46 46 49 55 52
A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial forecast of 46 for Day 8, an initial trend estimate of 2, and α = β = .3, develop demand forecasts for Days 9 through 16. Then compute the resultant MSE using the error values from Days 8 through 15. (Round your intermediate period-by-period forecast and error values to 3 decimal places. Round your final MSE answer to 3 decimal places.) MSE = Day: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Number sold: 31 32 35 38 38 42 42 43 41 44 46 46 49 55 52
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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| A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were |
|
a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial MSE = |
| Day: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 |
| Number sold: | 31 | 32 | 35 | 38 | 38 | 42 | 42 | 43 | 41 | 44 | 46 | 46 | 49 | 55 | 52 |
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