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 2Value 17 14 153(b) mean squared errorMSE =%4Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.(a) mean absolute errorMAE =5 6(d) What is the forecast for week 7?12 16 15(c) mean absolute percentage error (Round your answer to two decimal places.)MAPE =

Answered: Centerville Bikes and Stuff (CBS) sells…

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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The Yummy Ice Cream Company projects the demand for ice cream by using first-order exponential smoothing. Last week the forecast was 100,000 gallons of ice cream, and 90,000 gallons was actually sold. Using alpha=.1, prepare a forecast for next week. Calculate the forecast using Alpha=.2 and Alpha=.3 for this problem. Which values of Alpha gave the best forecast, assuming actual demand for next week ends up being 95,000 gallons?
The following data are for calculator sales in units at an electronics store over the past nine weeks: Week Sales Week Sales 1 45 6. 53 2 50 7 59 3 44 59 4 51 9 64 5 57 Use trend projection with regression to forecast sales for weeks 10 - 13. What are the error measures (CFE, MSE, G. MAD, and MAPE) for this forecasting procedure? How about ? Obtain the trend projection with regression forecast for weeks 10 - 13. (Enter your responses rounded to two decimal places.) Period Forecast, F, 10 11 12 13
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.
Give typed explanation Part 2: Using exponential smoothing, the forecasted demand for period 5 using the smoothing constant determined in image= ?
Please answer this simple question
Period 1 2 3 4 5 New Accounts Period 201 215 212 229 236 6 7 8 9 10 New Accounts Period 233 249 253 254 268 11 12 13 14 15 New Accounts 282 276 281 289 311
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 Value 17 12 17 (a) mean absolute error MAE = (b) mean squared error MSE = Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. 4 % 5 6 (d) What is the forecast for week 7? 10 16 15 (c) mean absolute percentage error (Round your answer to two decimal places.) MAPE =
Develop two exponential smoothing forecasts for periods 2 through 11. For the first forecast, use a=0.1. For the second, use a=0.7. Assume that your forecast for period 1 was 205. Click the icon to view the time series data. Find the exponential smoothing forecast for each period when a=0:1 (enter your responses rounded to one decimal place). Period Forecast (0.1) 205 1 2 More Info Period 1 2 3 4 5 6 7 8 9 10 Print Demand 228 249 229 238 231 154 166 157 Demand 228 249 164 161 Done
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
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.)
In a retail store, the actual sales of a particular product (in thousands of units) over the past few months are as follows: Month Sales 1 16 2 22 3 18 4 20 5 23 Using exponential smoothing method with α (smoothing constant) of 0.75 and the given forecast for month 1 equal to 10, what is the forecast for month 6?
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

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