2. Solve using Excel. The monthly sales for Telco Batteries, Inc., were as follows:MonthSalesJanuaryFebruaryMarchAprilMay2021151413June16JulyAugustSeptember171820October20November21December23a. Plot the monthly sales data. Do you observe any trend, cycles or random variations?b. Forecast January sales using each of the following:a. Naïve methodb. A 3-month moving averagec. A 6-month weighted moving average using 0.1, 0.1, 0.1, 0.2, 0.2 and 0.3 withthe heaviest weights applied to the most recent monthsd. Exponential smoothing using an x = 0.3 and a September forecast of 18.c. Compute the MAD and MAPE for the naïve method and 3-month moving average.

Forecasting is a technique that uses recorded data as inputs to make instructed estimates that are…

Answered: a. Plot the monthly sales data. Do you…

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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The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 360 389 410 381 366 378 a) The forecasted demand for the week of October 12 using a 3-week moving average = 375 pints (round your response to two decimal places) b) Using a 3-week weighted moving average, with weights of 0.15, 0.25, and 0.60, using 0.60 for the most recent week, the forecasted demand for the week of October 12 = 150.10 pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.)
Briefly mention the five characteristics of data patterns in time series method of forecasting.
discuss the strategic importance of forecasting for Disney and demonstrate how Disney World systematically uses the first seven steps in the forecasting process to initiate, design and implement forecasting systems
Which of the following is important if forecasting is to have the desired positive effect on decisions? A. Communication between forecast staff and managment B. Ranges of forecast are reported to managment C. Forecast combination is examined D Forecast presentations should not be overly technical unless managment desires E All of the above Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
State whether the following statements are true or false. If the statement is false, write the correct answer: 1. Quantitate data is used in decision making especially for companies and organization that are new in the market. Answer: 2. Forecasting is a prediction rather than a reality to mislead an implementing the proper decisions. into Answer: 3. Short range forecast generally is used for decision making in a period of about job scheduling, assignments and three months, and the decision taken are related production levels. Answer: 4. Demand forecasting predicts the rate of technological progress and impacts development of new Answer: 5. Qualitative and taking are more accurate, for they involve analyzing numeric data based on previous numbers and statistics. Answer: hưo Aaicancoege of toMiddlst. 2021
a. Compute a four-week moving averages for the above time series. b. Compute the mean squared error (MSE) for the four-week moving average forecasts. c. Use α = 0.3 to compute the exponential smoothing values for the time series.
Can you please solve all parts of the question manually. Thank you!
The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 350 370 410 381 371 378 a) The forecasted demand for the week of October 12 using a 3-week moving average = 376.67 pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.20, 0.35, and 0.45, using 0.45 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.)
I The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 345 389 412 383 366 371 a) The forecasted demand for the week of October 12 using a 3-week moving average = 373.33 pints (round your response 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 most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order recent period and smallest weight applies to oldest period.) the largest weight applies to most
Walmart’s Human Resource Planning Forecasting. Walmart’s human resource management forecasts its workforce needs to ensure capacity to address changes in consumer demand. While other forecasting methods and techniques are also used, these three are the most notable at Walmart:
Jean and Dinah had been in business for two years producing umbrellas to be sold to the cruise ship passengers when they docked. They found that they are constantly out of umbrellas and had to rush producions which has resulted in the increase of their production cost. Jean has a nephew who is enrolled in the UWIOC and he advised her to prepare forecasted qualities using the sales that they made over the past months. The data below represents sales for the last 9 months. In order to assist Jean and Dinah you are asked to; a. plot the data on a graph showing the trend b. determine the equation of the trend line c. predict sales for month 10 and 11. Months Sales 1 44 2 52 3 50 4 54 5 55 6 55 7 60 8 56 9 62
September 14 September 21 September 28 October 5 412 381 371 378 a) The forecasted demand for the week of October 12 using a 3-week moving average=pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.15, 0.35, and 0.50, using 0.50 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.)

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