Given the following demand data, compute a simple exponential smoothing forecast for alpha values of O.3 and 0.5. Use the actualvalue in Period 1 as your starting forecast in Period 2 (Round all your calculotions to two decimal points.)PeriodActual Demend32302932333335326.3210113030a03a05PeriodForecastForecast367.101112

Here, I will conduct a simple exponential smoothing forecast for the given data set, I have…

Answered: a03 a05 Period Forecast Forecast 3 10…

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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Explain how any 2 quantitative forecasting models are used as per requirements.
Q23
2. An operation specialist used two forecast methods to forecast demand for a certain word processing software package. Actual demand and his corresponding predictions are shown below: Month Sales Forecast A Forecast B January 60 February 25 60 March 54 50 42 April 36 30 55 May 45 45 35 June 60 20 Which forecast method would you recommend if using MAD as the accuracy measurement? Select one: a. Forecast A b. Forecast B c. No preference.
Al Maha Plastic manufacturing Companies last Six weekly values of Sales were 90, 110, 115, 135, 140, 150 and 160 units. Forecasts (same for all the six weeks) were 110 units for all the weeks. Calculate MAD, and Tracking Signal for these six weeks. Wee k Actual Sales Forecaste d Sale Error Cumulative Error Absolute Error Cumulative Absolute Error MAD Tracking Signal 1 2 3 4 5 6 7
q. 14 Given the same data, calculate the CFE for when using a MA for this data. Tip: You will need to calculate the MA forecast for as many periods as possible before calculating the CFE. Group of answer choices a. 0 b. -1 c. 1 d. 2 e. -2
Month Demand Forecast Error Abs Error 1 43 2 52 3 44 4 57 5 43 6 48 7 Sum Mean Bias MAD When using a 4 period moving average forecast (MAF): 1. What is the forecast for month 6? 2. What is the forecast error for month 6?
Question 1 ) The monthiy sales Of yamizí Battery company are asfollows:- Month Jales 2000 2100 1500 1400 1300 Calcuiate fore cost sales for June using each of the fo llowing method: - i) Naive Method 1M 3 Month Simple moving averoger Ti) Exponentral smoothing using an a =0:3 cand may forecast of 1600 units.
4 .Substitute for Problem # 4 on in attachment)-Calculate the MAD,revised MAD and the Revised Forecast for months 1-6 for the following three groups,where the Forecast stands for Forecast Demand.Has your forecast improved ? Tell me how would you go about improving the revised forecast( for each of the three groups)without actually doing so? Estate Planning Group Auditing and Accounting Group Business Consulting Group Month Actual Demand Forecast Actual Demand Forecast Actual Demand Forecast 1 100 125 270 230 140 135 2 90 125 240 230 130 135 3 110 125 280 230 160 135 4 115 125 260 230 180 135 5 130 125 300 230 200 135 6 115 125 220 230 190 135
b7 need urgent in 15 minutes
1. Explain the challenges of managing service industry with suitable example? You being a service manager what the precautionary steps you will be initiating-Explain. 2. You are a manager working with operation department and your general manager asked to analyze the key external factors of the industry you are working with suitable example. 3. You are working with an airline company and your manager requested to submit report on elements of a good forecasting and explain pros and cons of delayed forecast.
Font Paragraph Styles Question 3 Consider the following from an estate agent's business nationally: Month Houses Sold Jan Feb Mar 380 360 390 Apr May June July Aug Sep Oct 400 390 380 394 454 460 460 Nov Dec 430 370 a) Calculate the three point moving averages (quarters) and seasonal variation for the above data b) Define moving averages and how they're useful in forecasting (use Harvard referencing) c) At races, your horse, White Rum, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of 4 in coming 3rd. First place pays $5,000 to the winner, second place $4,000 and third place $1,350. Hence, is it worth entering the race if it costs $1050?
A firm finds that it sold 150 units in January, 160 in February, and 170 in March. What is the forecast of April in case the firm uses 3-month moving average? a. 150 b. 155 c. 160 d. 170

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a03 a05 Period Forecast Forecast 3 10 11 12 2.