Since the beginning of the year, the purchase manager at a department store hasbeen recording sales data to be used to compute 4-period moving averages toforecast sales for an upcoming month. Sales data for the months of January throughSeptember are reported in the table below.MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberSales212039222914422827Computed forecast values are not rounded.Compute the four-period moving average forecast for October.value as a whole number by rounding.Specify theCompute the mean absolute deviation (MAD) for the four-period moving averageforecasts.Specify the MAD as a whole number by rounding.Compute the mean squared error (MSE) for the four-period moving averageforecasts. Specify the MSE as a whole number by rounding.Compute the mean absolute percentage error (MAPE) for the four-period movingaverage forecasts.Specify the MAPE as a whole number by rounding.CHECK ANSWER

Assume that:Sales = AFor Forecast of October =

Answered: begi year, depart stor been recording…

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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Use simple exponential smoothing with a=0.6 to forecast chargers sales for February through May. Assume that the forecast for January was 24 chargers. *** Month January Charger Sales 42 February 33 March 28 April 59 May ? a) What will be the forecast for May? b) Calculate the MSE.
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35 The last seven weeks of demand at a new car dealer are shown below. Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using weights of 3, 2, and 1 (where the most recent week receives the highest weight). (Round all forecasts to the nearest whole unit.) Calculate the MAD for this forecast (covering all weeks in which error comparisons can be made). What does the MAD indicate? Week Sales1 252 303 274 315 276 297 30
Given the following original forecast and actual data: Month Actual Forecast Jan 600 Feb 475 Mar 550 Apr 575 May 643 Jun 662 Jul ??? ??? Using a 2 month weighted moving average with weights of 75% for the previous month and 25% for two months back, what is the forecast for July. Round your answer to 1 decimal place. 400 -- —— ——
January February March April May June a. Calculate forecasts for the remaining five months using simple exponential smoothing with a = 0.4. February March April May June ACTUAL FORECAST 100 85 96 103 82 66 90 MAD Forecasts 91 93 97 91 81 b. Calculate the MAD for all the forecasts, including January's. (Round your answer to 1 decimal place.)
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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
Problem 5 You are trying to determine what forecast method to use. Based upon the following historical data, calculate the following forecast and specify what procedure you would utilize. MAY JUNE MONTH JANUARY FEBRUARY MARCH APRIL DEMAND 62 65 67 68 71 73 MONTH JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER DEMAND 76 78 78 80 84 85 a. Calculate the simple three-month moving average for periods 4 to 12. b. Calculate the weighted three-month moving average for periods 4 to 12. Use weights of 0.50, 0.30, and 0.20 for the most recent, second most recent, and third most recent periods, respectively. c. Calculate the single exponential smoothing forecast for periods 2 to 12 using an initial forecast (F₁) of 61 and a of 0.30. d. Calculate the exponential smoothing with trend component forecast for periods 2 to 12 using an initial trend forecast (T₁) of 1.8, and initial exponential smoothing forecast (F₁) of 60, an a of 0.30 and ō of 0.30. e. Calculate the MAD for the forecasts made by each…

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