Problem 3-14 (Algo)Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the pastyear. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safetylaws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows:MONTHDEMAND (UNITS)4,1504,25e3,9504, 3504,95e4,6505,25e4,8505,35e5,65e6,25e5,95eJanuaryFebruaryMarchАprilМayJuneJulyAugustSeptemberOctoberNovemberDecembera. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow thegeneral format in Exhibit 3.8. (Do not round Intermedlate calculatlons. Round your answers to 2 decimal places.)MonthForecastJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberb. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additionalunits should be held to meet this level of confidence? (Do not round Intermedlate calculatlons. Round your answer to the nearestwhole number.)Additional units

Answered: a. Using linear regression analysis,…

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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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
The most naive forecast can is quite valuable in leading to an organization’s success because it is most widely understood by senior managers. True or False
Dic 2 - Time Series Analysis and F eBook Problem 6-01 (Algorithmic) Consider the following time series data. Thm Week 1 2 3 4 5 6 Value 20 13 15 11 19 13 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. a. Mean absolute error. If required, round your answer to one decimal place. b. Mean squared error. If required, round your answer to one decimal place. c. Mean absolute percentage error. If required, round your intermediate calculations and final answer to two decimal places. % d. What is the forecast for week 7? If required, round your answer to two decimal place.
Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows. Week 1 2 3 4 5 6 Value 17 12 15 12 18 13 Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. (a) mean absolute error MAE = (b) mean squared error MSE = (c) mean absolute percentage error (Round your answer to two decimal places.) MAPE = % (d) What is the forecast for week 7?
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The Yummy Ice Cream Company projects the demand for ice cream by using first-order exponential smoothing. Last week the forecast was 100,000 gallons of ice cream, and 90,000 gallons was actually sold. Using alpha=.1, prepare a forecast for next week. Calculate the forecast using Alpha=.2 and Alpha=.3 for this problem. Which values of Alpha gave the best forecast, assuming actual demand for next week ends up being 95,000 gallons?
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The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand 6 8 4 7 11 7 13 12 10 13 8 This exercise contains only parts b, c, and d. Part 2 b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). Part 3 c) Using the 3-year weighted moving average with weights 0.10, 0.30, and 0.60, using 0.60 for the most recent period, provide the forecast from periods 4 through 12 (round your responses to two decimal places). Part 4 d) Mean absolute deviation for the forecast developed…
MSE answer for part a = 5.95 is incorrect. Please do recalculations with the correct answer. also the rest of the question was not answered so here it is: Use ? = 0.2 to compute the exponential smoothing values for the time series. Week Time SeriesValue Forecast 1 19 2 14 3 17 4 12 5 18 6 15 Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for week 7? (Round your answer to two decimal places.) Use ? = 0.4 to compute the exponential smoothing values for the time series. Week Time SeriesValue Forecast 1 19 2 14 3 17 4 12 5 18 6 15
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