The monthly sales for Yazici Batteries, Inc., were as follows:Jan Feb Mar Apr May Jun Jul Aug Sept Oct21 23 1714111616 18Nov Dec20 20 20 24MonthSalesThis exercise contains only parts b and cb) The forecast for the next month (Jan) using the naive method=sales (round your response to a whole number).The forecast for the next period (Jan) using a 3-month moving average approach = sales (round your response to twodecimal places).The forecast for the next period (Jan) using a 6-month weighted average with weights of 0.10, 0.10, 0.10, 0.20, 0.20, and 0.30, where theheaviest weights are applied to the most recent month= sales (round your response to one decimal place)Using exponential smoothing with a = 0.30 and a September forecast of 21.00, the forecast for the next period (Jan) = sales (roundyour response to two decimal places).Using a method of trend projection, the forecast for the next month (Jan) = sales (round your response to two decimal places).c) The method that can be used for making a forecast for the month of March is

I will apply various techniques to determine the forecast for the next month Jan, The detailed…

Answered: b) The forecast for the next month…

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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Assume that the data in columns A and B report the new constructions of residential homes, per month, in thousands, from 2015 to 2020 in the state of Oregon. a) Chart the data. Discuss any apparent trend and seasonal patterns. b) Use the "Tahoe Salt" method with linear trend to forecast new constructions for the 12 months of 2021. c) Add your model values and forecast to the data chart. d) Compute the MAD of your model. e) Compute and plot the tracking signal in a new chart. f) Discuss the quality of this model. What is the flagrant flaw? g) Suggest an approach that would yield better results in terms of forecast values, MAD, and tracking signal. An appropriate narrative argument is sufficient (i.e., one or two sentences). You do not need to do calculations for this part.
It wouldnt let me take a screenshot of the table so I had to copy and paste it in here. My question is: How do you Calculate a moving average forecast using the last 2 and 4 dates of stay. What is the prediction for 7/1/2021 for each technique? Discussion Question 1 - 200 room hotel Forecasts MA 2 Errors MA 4 Errors ES (0.8) Errors ES (0.5) Errors Date Day of Week Rooms Sold MA 2 MA 4 ES (0.8) ES (0.5) AE APE AE APE AE APE AE APE 6/1/2021 Tuesday 123 6/2/2021 Wednesday 109 6/3/2021 Thursday 140 6/4/2021 Friday 199 6/5/2021 Saturday 179 6/6/2021 Sunday 140 6/7/2021 Monday 117 6/8/2021 Tuesday 132 6/9/2021 Wednesday 108 6/10/2021 Thursday 151…
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
Which time-series forecasting method works best if the company assumes that product demand will decrease over time? A. Weighted moving average B. Linear trend C. Moving average D. Exponential smoothing
Can you please solve all parts of the question manually. Thank you!
Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two forecasting methods to see which method was better over this period. MONTH ACTUAL January 120 February 145 March 146 April 171 May 154 June 182 July 138 August 135 September 146 a. Forecast April through September using a three-month moving average. b. Use simple exponential smoothing with an alpha of 0.20 to estimate April through September, using the average of January through March as the initial forecast for April. c-1. Calculate MAD for Three-month moving average and Exponential smoothing. c-2. Use MAD to decide which method produced the better forecast over the six-month period.
A check-processing center uses exponetial smoothing to forecast the number of incoming checks each month. the number of checks recewived in June was 40 million while the forecast was 42 million. A smoothibg constant of 0.15 is used. a) Using exponential smoothing and given a the forecast for the month of July={__} million checks received (round your response to one decimal place
If month one has 240,000 demands, month two 250,080 demands, month three 325,00 demands, month four 370,000 demands, month five 420,000 demands and month six 509,00 demands. Use a forecast for the first month of 240,000, an initial trend forecast of 50,000, and smoothing parameters of 0.35 for both demand smoothing and trend smoothing. Compute the forecasts and trends using double exponential smoothing
Which of the following are common metrics for measuring the relative quality of different forecasting methods? OAbsolutely Mean Mean Squared Accuracy O Mean Absolute Percent Error Mean Squared Response OMean Squared Error Mean Absolute Error (a.k.a. Mean Absolute Deviation)
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.
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 Value 17 14 15 3 (b) mean squared error MSE = % 4 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 = 5 6 (d) What is the forecast for week 7? 12 16 15 (c) mean absolute percentage error (Round your answer to two decimal places.) MAPE =
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