Additional Algo 15-12 Forecasting with SeasonalityDemand history for the past three years is shown below, along with the seasonal indices for each quarter.SeasonalIndex1.25YearYear 1Year 2Year 3Quarter010203040102030401020304Year 4, 01 forecastDemand9268195855159128746515528618285715421.1760.8370.7451.251.1760.8370.7451.251.1760.8370.745Use exponential smoothing with alpha (a) - 0.3 and an initial forecast of 720 along with seasonality to calculate the Year 4, Q1 forecast.Note: Do not round intermediate calculations. Round your answer to the nearest whole number.

Answered: Additional Algo 15-12 Forecasting with…

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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Describe when to use of a time series forecasting techniques and what assumption are made?
Below is the number of complaints received in a department store for the first six months of operation: Month Complaints January February March April May June 37 48 84 96 114 148 If a three-month moving average is used to smooth this series, what would have been the forecast for July, rounded to the nearest whole number?
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 Week Of 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 0.10, 0.35, and 0.55, using 0.55 for the most recent week, the forecasted demand for the week 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.) c) If the forecasted demand for the week of August 31 is 360 and a = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). August 31 September 7 September 14 September 21…
What is 'forecasting error'? What are the metrics used in measuring forecasting errors?
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A forecasting method has produced the following over the past five months. What is the mean absolute percentage error (MAPE)? Actual 11 OA. 0.00% B. 31.87% 5178 11 13 Forecast 13 10 30668 $7
The following table gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 - 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 0.10, 0.30, and 0.60, using 0.60 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.) Week Of c) If the forecasted demand for the week of August 31 is 360 and a = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). August 31 September 7 September 14…
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The following table contains the number of complaints received in a department store for the first 6 months of operation: Note: Round final answer to a whole number. MONTH January February COMPLAINTS 38 49 86 96 116 146 If a three-month moving average is used to smooth this series, what would have been the forecast for May? March April May June Forecast for May
The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: S Week Of August 31 September 7 September 14 September 21 September 28 October 5 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 = order the largest weight applies to most recent period and smallest weight applies to oldest period.) c) If the forecasted demand for the week of August 31 is 350 and a = 0.30, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places) Week Of Pints Used Forecast for this Date 350 350.00 356.00 August 31 September 7 September 14 September 21 September 28 October 5 October 12 Pints…
The following table contains the number of complaints received in a department store for the first 6 months of operation: MONTH COMPLAINTS January 39 February 50 March 88 April 99 May June 115 154 If a three-month moving average is used to smooth this series, what would have been the forecast for May?

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