The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks:August 31September 7September 14September 21September 28October 5Week Ofa) The forecasted demand for the week of October 12 using a 3-week moving average = 373.33 pints (round yourresponse to two decimal places).b) Using a 3-week weighted moving average, with weights of 0.10, 0.35, and 0.55, using 0.55 for the mostrecent week, the forecasted demand for the week of October 12 = 370.45 pints (round your response to two decimalplaces and remember to use the weights in appropriate order the largest weight applies to most recent period andsmallest weight applies to oldest period.)Week Ofc) If the forecasted demand for the week of August 31 is 345 and a = 0.30, using exponential smoothing, develop theforecast for each of the weeks with the known demand and the forecast for the week of October 12 (round yourresponses to two decimal places).August 31September 7September 14September 21September 28October 5October 12Pints Used345389412383366371Pints Used345389412383366371Forecast for thisDate345345.00358.20

Forecasts can be developed by various methods. Some of the methods are moving averages, weighted…

Answered: a) The forecasted demand for the week…

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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Selecting from MAD, MAPD, MSE, E, and , which measure of forecast accuracy do you consider superior? Why?
No singal forecast methodology is appropriate under all conditions: True or false?
1 The demand for automobiles at Crescent Auto Dealers for the past 8 weeks is as follows. Auto Week Demand 1 9. 2 11 3 8 4 12 5 10 13 7 7 8. 12 Develop a 3-week moving average forecast for Weeks 4 through 9 a Develop a 3-week weighted average forecast for weeks 4 through 9 with weights of d. What is the Naïve forecast for Week 9?
Tom’s Towing LLC operates a fleet of tow trucks that it sends to help drivers in needon the nearby highway. The numbers of calls requesting a tow truck for Monday, Tuesday, Wednesday, and Thursday were 27, 18, 21, and 15, respectively. What would be itsforecast for Friday using a naïve forecasting approach?
Considering the fact that the number of students is relatively constant throughout the academic year, the college's cafeteria is planning for the second semester based of the actual sales the first semester. Month Actual Sales of Fall 2016 Forecast of Spring 2017 September 250 October 300 November 280 December 200 With the given information, can the forecast of November be obtained using a 3-month weighted moving average? Explain you answer.
Using naïve method to make a forecast involving data with trend, the forecasted sales volume for week 4 must be ________ units if the actual sales are 500, 510, and 508 in weeks 1, 2, & 3, respectively: * o 506 o 508 o 510 o 500
Given the table below, complete the missing cell values applying the Exponential Smoothing method of forecasting and Mean Absolute Deviation. Answer also the other 2 related questions below the table. Numbers with decimal should take 2 decimal places. Actual Quarter Tonnage Unloaded 1 2 3 4 5 6 7 8 175 160 170 160 160 170 180 200 Forecast for a=3 175 175.0 170.5 167.2 165.1 166.6 170.6 Sum of absolute deviation = Absolute Deviation for a = .3 Other questions: (1) What is the MAD for a = .3? (2) Which smoothing constant would you prefer? 0.00 15.00 0.50 10.35 4.93 13.45 29.41 80.89 Forecast for a = .6 175 166.0 168.4 163.4 161.3 166.5 174.6 Absolute Deviation for a = .6 0.00 15.00 4.00 8.40 3.36 8.66 13.46 25.38
14 Community General Hospital finds itself treating many bicycle accident victims. Data from the last seven 24-hour periods is shown below: Day Bicycle Victims 1 8 2 14 3 8 4 14 5 18 6 15 With an alpha value of 0.31 and a starting forecast in day 3 equal to the 21 , what is the exponentially smoothed forecast for day 4? (Round to two decimal places) 15 What is the exponentially smoothed forecast for day 5? (Round to two decimal places)
Consider the following yearly demand values for a particular product. Year Demand 1 360 389 3 410 4 381 368 374 (a) Produce forecast for year 4,5,6, and 7 by using 3-week moving average. (b) Produce forecast for year 4,5,6, and 7 by using 3-week weighted moving average where weights are as follows; wt–3 = .1, wt-2 = .3, and wt-1 = .6. (c) Produce forecast for year 4,5,6, and 7 by using exponential smoothing with a = .2. Please assume that the forecast for the first year is 360.
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMAND Period Demand F1 F2 1 68 66 66 2 75 68 68 3 70 72 70 4 74 71 72 5 69 72 74 6 72 70 76 7 80 71 78 8 78 74 80 Click here for the Excel Data File Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 1 decimal place.) b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) c. In practice, either MAD or MSE would be employed to compute forecast errors. What factors might lead a manager to choose one rather than the other? d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations and final answers to 2 decimal places.)
A recently introduced product has a positive trend in sales. The product’s sales have increased in each of its first eight weeks on the market. The forecast for week 6 was 1,325 (F6 = 1,325), with A6 = 1,283 and T6 = 42. Using smoothing components α = 0.20 and β = 0.30, develop forecasts for weeks 7 and 8.
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?

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