Simply answer what would the forecast be for week 5 a. Using a three-week moving average, what would you forecast the next week to be?number.)Forecast for the week 5 Not all the items in your office supply store are evenly distributed as far as demand is concerned, so you decide to forecast demand tohelp plan your stock. Past data for legal-sized yellow tablets for the month of August areWeek 1330Week 2430Week 3630Week 4730wholo

Forecasting is predicting in advance what future sales/demand can be.

Answered: a. Using a three-week moving 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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A retail store records customer demand during each sales period. The data has been collected in the Microsoft Excel Online file below. Use the Microsoft Excel Online file below to develop the single exponential smoothing forecast and answer the following questions. Questions 1. What is the forecast for the 13th period based on the single exponential smoothing? Round your answer to two decimal places. fill in the blank 2 2. What is the MSE for the single exponential smoothing forecast? Round your answer to two decimal places. fill in the blank 3 3. Choose the correct graph for the single exponential smoothing forecast. . A. B.
Use the sales data in the table ( attached Image) and apply the same forecast method when α = 0.1, 0.2, 0.3, 0.4, 0.5, 0.6, 0.7, 0.8, 0.9, and 1. What is the best value for α? What does the best value of α indicate or show in regards to the forecast model? (Hint: Use Microsoft Excel to solve the question)
Forecast for next months and trend using double exponential smoothing
The purpose of this assignment is to utilize Distribution Requirements Planning (DRP) parameters and inventory data to determine planned order releases in central warehouses. address each problem using full sentences and proper spelling and grammar and submit in an Excel template. 2. For the warehouse of Figure 14.8, suppose actual demands were 24, 16, and 18 in periods 1, 2, and 3, respectively. The initial DRP record is: Forecast requirements In transit Projected available balance Planned shipments Q=40; lead time=1; SS=6. 6 1 20 40 26 Period 2 3 4 5 20 20 20 20 6 266 26 40 40 a. Create the other three DRP records as done in Figure 14.8. What problem is created in period 2? What can be done? b. Does error addback work for this set of circumstances?
Suppose the weekly demand for a call centre is shown in the table below. Apply the moving average and exponential smoothing methods to forecast the demand for Week 17.Assume the following:Simple moving average method: two-week moving averageSingle exponential smoothing method: assume the 1st week forecast is 333 and α=0.65.Include the MSE, MAD and MAPE in your calculations. Based on your results, recommend which method should be used and give reasons to support your recommendation. Week Demand (Number of calls) 1 300 2 360 3 410 4 289 5 279 6 302 7 376 8 329 9 248 10 322 11 503 12 511 13 399 14 402 15 380 16 469
For the data below, answer the following four questions: Period Demand 1 58 2 59 3 60 4 61 What would be the simple moving average forecast for the 5th period? 68.2 58 60.7 59.5 61
Can you either overestimate or underestimate the actual sales number for a poor forecast?
The department at a local department store has tracked the sales of a product over the last ten weeks. Forecast demand using exponential smoothing with an alpha of 0.3, and an initial forecast of 30.0 for period 1. a. Calculate the MAD covering periods 2-10. b. Calculate the tracking signal covering periods 2-10. c. What do you recommend? Period (t) Demand (At) 1 24 2 23 3 26 4 36 5 26 6 30 7 32 8 26 9 25 10 28
Discuss the importance of accurate forecasts in supply chain management.
forgiven product demand the time series trying equation is 53.3+2.1 X what is your forecast demand for period six?
Explain FORECAST ACCURACY?
Show your solution. Please write down your answer. No excel please. Thank you.

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a. Using a three-week moving average, what would you forecast the next week to be number.) Forecast for the week 5