b) Use exponential smoothing with a smoothing constant of 0.30 to forecast the sales. Assume that last period’s forecast for month 1 is equal to actual to begin the procedure. Which method do you think is best? Is this an improvement over the weighted average- use MAD only. c) Use regression analysis to estimate the line of best fit -use the manual method with the formulas shown below (pictured).

b) Use exponential smoothing with a smoothing constant of 0.30 to forecast the sales. Assume that last period’s forecast for month 1 is equal to actual to begin the procedure. Which method do you think is best? Is this an improvement over the weighted average- use MAD only. c) Use regression analysis to estimate the line of best fit -use the manual method with the formulas shown below (pictured).

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter10: Sequences, Series, And Probability

Section10.2: Arithmetic Sequences

Problem 51E

See similar textbooks

Related questions

Q: What is the intercept of the regression line?

A: First enter this data into Excel

Q: Use the estimated regression coefficients rounded to decimals in your calculations. а. Develop a…

Q: To estimate the relationship between Mustang price and mileage you set up the appropriate regression…

A: Given data: Miles Age Price 71.2 6.0 16.0 23 3 22 82.8 9 11.9 115.1 14 4.9 1.1 1 37.9…

Q: Sam had 3 caffeinated drinks on april 24 1. use Linear regression to predict the number non…

A: The given data is, mean x=6 mean y=3.6 S.D X= 2.45 S.D Y=1.9

Q: A sports statistician was interested in the relationship between game attendance (in thousands) and…

A: The given regression line is: y=4.9x+15.2 Here slope is=4.9 Interpretation of slope is: Increase in…

Q: Type the regression equation for “Area” and “Biomass” in context into your document. Interpret…

A: Here we have, The dependent variable: Biomass (y) The independent variable: Area (x)

Q: What is meant by the slope of the regression

A: In a linear regression model, We have one dependent variable and one independent variable.

Q: Explain the first step in the written development of a regression model?

A: Regression model: Regression analysis is used to study the relationship between two or more…

Q: The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function…

A: Given: n=8

Q: Imagine a regression line that relates y = average systolic blood pressure to x = age. The average…

A: Let the regression line be y=a+bx. Here, the regression line passes through the two points (40, 90)…

Q: What is the forecast, including both trend and seasonality, for the 2021. The regression equation is…

A: Regression equation : Regression equation is useful to estimate or predict the response y based on…

Q: Find the regression model for the data given

A: The objective is to determine the regression model for the given data.

Q: Assume a regression model is y= -4.72+3.27. give a forecast of y when x= 25.62

A: Answer is in step 2

Q: one umer price index base year nment finance accounting mal debt reporting status t and export price…

A: CPI GFA ED IE IP PC PS BP NA OA 2010 1 1 1 0 1 1 1 1 1 86.7 2011 1 0 1 0 1 1 1 1 1 83.3 2012…

Q: Water is being poured into a large cone shape cistern. The volume of water measured and centimeters…

A: Here, we have given that the summary of a regression analysis which consists of the coefficient of…

Q: The follow table gives the approximate economic value associated with various levels of oil recovery…

A: 20. Step-by-step procedure to obtain Regression line using Excel: In Excel sheet, enter and select…

Q: A regression

A: regression is the relationship between dependent variable and independent variables here y…

Q: Suppose the relationship is significant, calculate the slope of the regression line, b. Show your…

A: Formula for slope: b=n∑xy-∑x∑yn∑x2-∑x2

Q: Director of the company wants to find how annual sales are related to area of the store. Develop a…

A: Step-by-step procedure to find the regression equation using Excel: In Excel sheet, enter Annual…

Q: Define the different ways to use linear regression?

A: Type of regressions is given below: Simple linear regression model Multiple linear regression…

Q: Interpret the values of the regression coefficients (intercept and slope)in this context. Note…

A: The regression analysis is conducted using EXCEL. The software procedure is given below: Enter the…

Q: You make the bold assumption that there is a linear relationship between number of ads and sales…

A: Obtain the value of slope The value of slope is obtained below as follows: The regression…

Q: 6. Interpret the slope of the regression line in context .

A: Given data in question table Coefficient of Slope line =0.2838

Q: A study reported by an electric engineering student considered the effect of X-ray inspection of…

A: It is required to obtain the equation of regression line between radiation doses on exposure time.…

Q: The linear regression equation for predicting systolic blood pressure from age is as follows: y = 54…

A: The regression equation is used for the prediction of a dependent variable based on the independent…

Q: Plot the relationship between overhead costs and labor-hours. Draw the regression line and evaluate…

A: The scatterplot is constructed using Excel and the procedure is given below: Enter the data into…

Q: The R2 from a regression of consumption on income is 0.75. Explain how the R2 is calculated and…

A: The statistic coefficient of determination is studied in correlation-regression.

Q: Date X # caffeinated drinks Y = # non-caffeinated drinks %3D April 19 3 April 20 April 21 April 22…

Q: SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square 0.98 0.97 0.97 Standard…

A: Linear regression is used to give a linear relationship between response and explanatory variable. A…

Q: The percentage of adults in the labor force ages 65 or older who are still working has risen since…

A: Given, The percentage of adults in the labor force ages 65 or older who are still working has risen…

Q: Explain what a residual is and how this relates to the best-fit regression model.

A: A residual is the difference between the observed value of the dependent variable and the value…

Q: Download the file "brain_metabolism.xlsx'. It contains data on brain mass in different species…

A: Hello, since your question has multiple parts, we will solve the first question for you. if you want…

Q: Explain the roles of tenter and tremove in stepwise regression.

A: Stepwise regression method:Stepwise regression method is a combination of forward selection method…

Q: What is the explanatory variable, what is the response variable. What is the regression equation…

A: ageno of text sent1862.5524931281104512850171139734105here explanatory variable is age and response…

Question

100%

b) Use exponential smoothing with a smoothing constant of 0.30 to forecast the sales. Assume that last period’s forecast for month 1 is equal to actual to begin the procedure. Which method do you think is best? Is this an improvement over the weighted average- use MAD only.
c) Use regression analysis to estimate the line of best fit -use the manual method with the formulas shown below (pictured).