Based on the information in the following table, use the ExponentialSmoothing Approach (a = 0.3) to forecast the demand for periods 4-13%3DPERIODMONTHDemandForecast1Jan222Feb1922223Mar212213Apr202May220Jun2007Jul113Aug1756.Sep27710Oct21111Nov24912Dec14413Jan6o00

The question is related to the Exponential smoothing model. The Forecasted demand as per Exponential…

Answered: Based on the information in the…

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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A large cement manufacturer uses exponential smoothing to forecast demand for a piece of pollution-control equipment. It appears that an increasing trend is present.Month At1 700 2 685 3 648 4 717 5 713 6 728 7 754 8 762 If the initial forecast for month 1 was 650 units and the trend over that period was 0 units, calculate FIT for the 9-month period. Use smoothing constants, Alpha = 0.1 andAlpha = 0.2.
Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two moving average forecasting methods to see which one was better over this period. Month Actual Demand Jan 120 Feb 140 March 160 April 180 May 170 June 190 July 150 August 160 September 170 a. Forecast April through September using a three-month moving average and calculate MAD for the forecasts. b. Forecast May through September using a four-month moving average and calculate MAD for the forecasts.
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 372
The number of cases of merlot wine sold by the Connor Owen winery in an eight-year period is as follows: YEAR CASES OFMERLOT WINE 2005 321 2006 407 2007 449 2008 507 2009 409 2010 551 2011 461 2012 427 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.
You have the data on the application during the 8 consecutive year period below Wanted / Find the forecast demand for the year 2008 using the simple moving average method and on a 4-period basis the years 2000 2001 2002 2003 2004 2005 2006 2007 2008 Order quantity 24 48 50 68 60 66 70 90
b. Compute 2s control limits for each forecast. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Forecast Method 1 Method 2 Control Limits
Given the following historical data, what is the simple three-period moving average forecast for period 6? Period Value 1 73 2 68 3 65 4 72 5 67
A newly operated company producing household items would want to forecast its sales volume for the next month. It has been in operation for ten (10) months now. For the past ten (10) months, forecast and sales data for its top selling Item A are as follow: Time Period Forecasted Value Actual Sales (Quantity) 10th month 405 345 9th month 400 380 8th month 410 400 7th month 370 375 6th month 330 360 5th month 320 325 4th month 320 315 3rd month 305 300 2nd month 290 295 1st month 300 280 The operations manager observes the fluctuations on the sales quantity over the 10-month period that the company is in operation. To forecast for the 11th month, the team decided to evaluate options on what forecasting method to use. Their options are: To use the Moving Average Method using the sales data for the past 10 months, To use the Exponential Smoothing Average assigning a smoothing constant of .6 and To use the Trend-adjusted Exponential Smoothing assigning smoothing constants α =…
The following table shows the past two years of quarterly sales information. Assume that there are both trend and seasonal factors and that the seasonal cycle is one year. QUARTER 1 2 5678AWN 3 4 8 SALES 219 237 208 171 169 Quarter 9 10 11 12 192 157 132 Use regression and seasonal indexes to forecast quarterly sales for the next year. Note: Do not round intermediate calculations. Round your answers to the nearest whole number. Forecast
Using linear regression analysis, what would you estimate demand to be for each month next year? Month Forecast January February March April May June July August September October November December
After using your forecasting model for six months, you decide to test it using a tracking signal. Here are the forecast and actual demands for the six-month period: PERIOD FORECAST ACTUAL May 450 500 June 500 550 July 550 400 August 600 500 September 650 675 October 700 600 Find the tracking signal of each month
Bradley's Copiers sells and repairs photocopy machines. The manager needs weekly forecasts of service calls so that he can schedule service personnel. Use the actual demand in the first period for the forecast for the first week so error measurement begins in the second week. The manager uses exponential smoothing with a = 0.4. Forecast the number of calls for week 6, which is next week. Week Actual Service Calls 26 2 34 38 4 27 5 35 The forecast for week 6 is service calls. (Enter your response rounded to two decimal places.)

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