Based on the output below, the forecast for time period 12 is: Intercept 5,620 X 100 Two -267 Three 269 Four 2,289 a) 8309 b) 8009 c) 9109
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Based on the output below, the forecast for time period 12 is:
Intercept |
5,620 |
X |
100 |
Two |
-267 |
Three |
269 |
Four |
2,289 |
a) 8309
b) 8009
c) 9109
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- Under what conditions might a firm use multiple forecasting methods?The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Using the output below, the forecast for time period 9 is: Intercept 5,620 X 100 Two -267 Three 269 Four 2,289 a) 5440 b) 6620 c) 6520 d) 5720
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- The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: Year 1 2 3 4 Mileage 3,000 4,000 3,450 3,750 3,700 a) Using a 2-year moving average, the forecast for year 6 = 3725 miles (round your response to the nearest whole number). b) If a 2-year moving average is used to make the forecast, the MAD based on this = miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.45 and 0.55 (the weight of 0.55 is for the most recent period) = |3723 miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.45 and 0.55 = miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)The manager of a travel agency has been using a seasonally adjusted forecast to predict demand for packaged tours. The actual and predicted values are as follows: A. Compute MAD for the fifth period, then update it by period using exponentially smoothing with alpha 0.30 B. Compute a tracking signal for period 5 through 14 using the initial and updated mads. If limit of ± 3 are used.The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: Year Mileage 1 3,050 2 4,050 3 3,450 4 3,850 5 3,700 a) Using a 2-year moving average, the forecast for year 6 = miles (round your response to the nearest whole number). b) If a 2-year moving average is used to make the forecast, the MAD based on this = miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.35 and 0.65 (the weight of 0.65 is for the most recent period) = miles (round your response to the nearest whole number). The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65= miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.) d) Using exponential…