Question 2.Calculate using the table below:+a.b.C.d.Calculate simple average for the entire sales.Calculate 3-months moving average.Calculate 3-months centered moving averageCalculate sales forecast for the month of July.MonthJANFEBMARAPRMAYJUNJULSales490050005500520051005600Simple MovingAverage n=3Centered MovingAverage n=3

MonthSalesJan4900Feb5000Mar5500Apr5200May5100Jun5600

Answered: a. b. C. d. Calculate simple average…

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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Please show work in excel Sales for the past 12 months at Schumacher & Company’s U.S. Retail Division are given below. a) Use a three-month moving average to forecast sales for the months April through December. b) Use the exponential smoothing method to forecast sales for the months of February through December. Use alpha = 0.6, and assume that the forecast for January was 47. c) Compare the performance of these two methods for the months of April through December using the mean squared error (MSE) as the performance criterion. Which method would you recommend? MONTH SALES Jan 52 Feb 60 Mar 54 Apr 36 May 40 Jun 47 Jul 25 Aug 27 Sep 25 Oct 36 Nov 32 Dec 28
8. Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 100 110 120 130 Actual 95 108 123 130 Part 2 a) MAD= __________ (round your response to one decimal place).
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a) Forecast the demand for the week of October 12 using a 3-week moving average. b) Use a 3-week weighted moving average, with weights of .1, .3, and .6, using .6 for the most recent week. Forecast demand for the week of October 12. c) compute the forecast for the week of Oct 12 using exponential smoothing with a forecast for august 31 of 360 and alpha 0.2
The screenshot depicts sales forecast for 2019. What sales would you forecast for 2019, using the simple regression (least squares) method?
b. Prepare forecasts for June through September by using an exponential smoothing model with α = 0.4. Assume that the forecast for May was 2,100 (enter your responses rounded to the nearest whole number). Month March April May June July August September March April May June Demand Demand 120 2,030 1,110 4,210 3,260 5,830 c. Prepare forecasts for June through September by using an adjusted exponential smoothing model with α = 0.4 and ß = 0.2. Assume that the unadjusted forecast for May was 2,100 and the trend factor T₁ for May was 900 (enter your responses rounded to the nearest whole number). Month 120 2,030 1,110 4,210 Forecast 2,100 1704 2707 2928 4089 2,100 1,704 Unadjusted forecast Adjusted forecast
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Part C Exponential Exponential Gasoline Demand Gasoline Month smoothed forecast smoothed forecast Exponential smoothed forecast (a = 0.25) Demand (a = 0.25) (a = 0.45) Exponential smoothed forecast (a = 0.45) Mar 900 920 920 1200 Apr May 755 915.00 911.00 1100 1000 650 875.00 840.80 g20 915.00 846 80 755 818.75 754.94 904.76 835.12 Jun 550 818.75 754.94 800 320 751.56 66272 645.74 746.83 Jul 625 751.56 662.72 650 600 550 Aug Sep 730 719.92 645.74 820 722.44 683.66 400 D Oct 1100 746.83 745.01 200 1 Nov 835.12 904.76 Mar Apr May Jun Jul Aug Sep Oct Nov 1. Make a comparative analysis out of your answers in the plotted data. (3-5 5 sentences)
Problem 5 You are trying to determine what forecast method to use. Based upon the following historical data, calculate the following forecast and specify what procedure you would utilize. MAY JUNE MONTH JANUARY FEBRUARY MARCH APRIL DEMAND 62 65 67 68 71 73 MONTH JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER DEMAND 76 78 78 80 84 85 a. Calculate the simple three-month moving average for periods 4 to 12. b. Calculate the weighted three-month moving average for periods 4 to 12. Use weights of 0.50, 0.30, and 0.20 for the most recent, second most recent, and third most recent periods, respectively. c. Calculate the single exponential smoothing forecast for periods 2 to 12 using an initial forecast (F₁) of 61 and a of 0.30. d. Calculate the exponential smoothing with trend component forecast for periods 2 to 12 using an initial trend forecast (T₁) of 1.8, and initial exponential smoothing forecast (F₁) of 60, an a of 0.30 and ō of 0.30. e. Calculate the MAD for the forecasts made by each…

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a. b. C. d. Calculate simple average for the entire sales. Calculate 3-months moving average. Calculate 3-months centered moving average Calculate sales forecast for the month of July.