Actual Period Demand 123 456 1 200 2 212 214 222 236 221 7 240 66 8 244 9 250 10 266
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Q: Apply the Regression model forecasting technique of the data to estimate the demand in week 13.
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Q: Forecasts affect planning but not the other management functions.
A: This do not require any introduction
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A: PeriodDemand167272368420570666768
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A: Year 1: Average demand = 8+10+12+94=9.75 Year 2: Average demand = 8+11+14+104=10.75
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Q: wine sold by the Connor Owen winery in an eight-year period is as follows: YEAR CASES OF MERLOT…
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A: Given, This period demand = 90 This period forecast = 58 Alpha value = 0.2
Use exponential smoothing with trend adjustment to
0.3, and let the initial trend value be 12 and the initial forecast be 200
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- Apply the exponential smoothing with alpha = 0.2 forecasting technique of the data to estimate the demand in week 13.in order to forecast a demand pattern that has a significant trend but no seasonality you can use both double exponential smoothing and regression. what is the advantage of using double exponential smoothing over regression?Please do fast ASAP fast
- The worksheet Hudson Demand Case Data in MindTap provides the number of visits over one year from January to December (52 weeks). Chart the data and explain the characteristics of the time series. How would you forecast future demand for customer visits? What criteria will you use to determine a “good” forecast? What methods would you use, and why? What is your final recommendation with respect to a forecasting method? 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.A company sells wielding generators. The demand for periods 1 to 9 is 44,52,50,,54,55,55,60, 56 and 62. Develop a regression forecasting equation and forecast sales for period 15Forecasting with exponential smoothing has been compared to driving a car while gazing in the rearview mirror. What circumstances must exist for driving a car that are equivalent to the assumptions made while applying exponential smoothing.
- 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 7 9 6 10 12 7 12 12 9 9 8 Part 2 Using exponential smoothing with α = 0.30 and a forecast for year 1 of 6.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place). Part 3 Provide the forecast from periods 2 through 12 using the naive approach (enter your responses as whole numbers).Use exponential smoothing with trend adjustment to forecast deliveries for period 5. Let α = 0.1, β = 0.2, and let the initial trend value be 4 and the initial forecast be 200 (both are given in the table). (a) Complete the table below and to predict the demand for Period 5 (See image). Show the calculations for the demand for Period 2. (b) Based on the actual demands of the first 4 periods forecast the demand for period 5 using the linear regression method. (c) Which method performs better based on the actual demand for period 5? Why do you think so?Amazon finds that sales in July are much greater relative to other months because of the Amazon Prime days in that month. Assuming that an exponential smoothing model is used for forecasting sales, what should the company best do to make the forecast for the next month (Aug) more reflective of reality? Please pick from the provided options. F t+1 = αDt + (1-α) Ft increase value of alpha decrease value of alpha stay with the same alpha decrease the expected forecast for the current month (Ft) On hearing our forecast, our clients probe - how sure are we about the forecast? Which measure of errror (among those stated below) should we best use to respond? a. Root MSE (RMSE) b. Mean absolute percentage error (MAPE) c. Mean forecast error (Avg. error) d. Cumulative forecast error (CFE)
- Income at the law firm of Smith and Jones for the period February to July was as follows: Month February March April May June July Income (in $ thousand) 90.0 91.5 96.0 85.4 92.2 96.0 Assume that the initial forecast for February is $85,000 and the initial trend adjustment is 0. The smoothing constants selected are a = 0.1 and ß = 0.2. Using trend-adjusted exponential smoothing, the forecast for the law firm's August income =O thousand dollars (round your response to two decimal places).The number of cases of merlot wine sold by the Connor Owen winery in an eight-year period is as follows: CASES OF MERLOT WINE 276 362 YEAR 2005 2006 2007 2008 2009 2010 2011 2012 404 462 364 506 416 382 Using an exponential smoothing model with an alpha value of 0.30, estimate the smoothed value calculated as of the end of 2012. Use the average demand for 2005 through 2007 as your initial forecast for 2008, and then smooth the forecast forward to 2012. (Round your intermediate calculations and final answer to the nearest whole number.) Answer is complete but not entirely correct. Forecast for 2012 372In a retail store, the actual sales of a particular product (in thousands of units) over the past few months are as follows: Month Sales 1 16 2 22 3 18 4 20 5 23 Using exponential smoothing method with α (smoothing constant) of 0.75 and the given forecast for month 1 equal to 10, what is the forecast for month 6?