Period12345NewAccounts Period201215212229236678910NewAccounts Period2332492532542681112131415NewAccounts282276281289311 Wb. Use trend-adjusted smoothing with a .3 and B-2 to smooth the new account data. What is theforecast for period 16?

Forecasting means predicting in advance about the uncertainties of the future. One of the methods to…

Answered: b. Use trend-adjusted smoothing with a…

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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Below is the actual demand for electrical boxes for Abco Electric for the last nine periods along with a forecast. A) Complete the Mean Absolute Deviation for this forecast. B) Complete an additional forecast for periods 4-12 using a weighted moving average of your choice. Change the title to describe your method. C) Calculate the MAD for your forecast. D) In the text box below put your comment comparing the accuracy of your forecast versus the one given in A. Was your method more accurate? Why or why not? Use whole numbers for all forecasts. Use ONE decimal place for the MAD calculations. Period Demand Naïve Method Error (e) MAD Your Title here Your MAD 1 855 Abs e Abs e 2 910 3 930 4 890 930 5 935 890 6 980 935 7 1020 980 8 960 1020 9 905 960 10 895 905 11 955 895 12 820 955 MAD D. Your comment on Forecast Accuracy:
Please help with the correct answers in details: 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 3 4 5 6 Value 19 12 17 10 18 15 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 = (b) mean squared error MSE = (c) mean absolute percentage error (Round your answer to two decimal places.) MAPE = % (d) What is the forecast for week 7?
Please do not give solution in image format thanku
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…
To have a stable forecasting tool when using the simple moving average method, what value of N (the number of periods) should a firm choose among the following choices? a. 3b. 2c. 8d. 6
2. Given the following data, use exponential smoothing with a = 0.2 and a = 0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. Period Actual Forecast 1 15 17 2 18 3 14 4 16 5 13 6 16
Given the table below, complete the missing cell values applying the Exponential Smoothing method of forecasting and Mean Absolute Deviation. Answer also the other 2 related questions below the table. Numbers with decimal should take 2 decimal places. Actual Quarter Tonnage Unloaded 1 2 3 4 5 6 7 8 175 160 170 160 160 170 180 200 Forecast for a=3 175 175.0 170.5 167.2 165.1 166.6 170.6 Sum of absolute deviation = Absolute Deviation for a = .3 Other questions: (1) What is the MAD for a = .3? (2) Which smoothing constant would you prefer? 0.00 15.00 0.50 10.35 4.93 13.45 29.41 80.89 Forecast for a = .6 175 166.0 168.4 163.4 161.3 166.5 174.6 Absolute Deviation for a = .6 0.00 15.00 4.00 8.40 3.36 8.66 13.46 25.38
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
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.
Is forecasting technique more accurate than TSA? Justify your answer.
LINGO SOFTWARE Consider a production-mix problem where we are concerned with what mix of four products we should produce during the upcoming week. For each product, each unit produced requires a known amount of production time on each of the three machines. Each machine has a certain number of hours of production time available per week. Each product provides a certain profit per unit produced. Figure 3S1.2 shows three types of data: machine-related data, product-related data, and data related to combinations of a machine and product. The objective is to determine how much to produce for each product so that total profit is maximized while not exceeding the limited production capacity of each machine. Requirement: Solve this problem in LINGO software.
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?

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b. Use trend-adjusted smoothing with a - .3 and B-.2 to smooth the new account data. What is the forecast for period 16?