Compute the forecast sale using α = 0.20 and α = 0.35 respectively. (Note: express all answers using 4 decimal places)
Q: A quality control manager wants to check the accuracy of the exponential smoothing with trend…
A: Find the given details below: Given details: Period Actual Sales Quarter 1 200 Quarter 2…
Q: Sales of tablet computers at Marika Gonzalez's electronics store in Washington, D.C., over the past…
A: Ans)
Q: formula refers Naive Forecast method. O a. Forecast value for the current period = Last
A: To compute a naïve forecast just require the earlier month of sales and plug it in close to the…
Q: a) Using a 3-year moving average, the forecasted registrations (in thousands) for years 4 through 12…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: Assuming that after analyzing two years, 8 time periods of quarterly demand data with four seasons…
A: Given data: seasonal factors are: S1: 1.03, S2: 0.92, S3: 0.88, and S4: 1.32 Estimated level L8 =…
Q: Summer Fall Winter 214 675 964 Use regression analysis on deseasonalized demand to forecast demand…
A: Here, I have been given the actual data for each period, First, I would determine the seasonal…
Q: The Holt method (exponential smoothing with trend andwithout seasonality) is being used to forecast…
A: Consider the following data about the weekly car sales at TOD Ford.
Q: Tracy is the the Director of Supply Chain at Circuits Inc. An accurate forecast at Circuits Inc. is…
A: Error = Actual demand - Forecast Absolute Error = Positive Value of Error MAD = Average of Absolute…
Q: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown…
A: Exponential smoothing determine with following formula Exponential smoothing = Alpha*At+(1-Alpha)*Ft…
Q: Year Year Forecast (000) 1 2 3 4.00 7.00 5.00 1 5.00 Registrations (000) a) Calculate the forecasted…
A: The exponential smoothing forecast is a form of time series forecasting that is used to predict…
Q: Given the following data on the number of pints of ice cream sold at a local ice cream store for a 3…
A: A moving average is a statistical strategy for finding overall trends in a data set by averaging any…
Q: • 4.33 Storrs Cycles has just started selling the new Cyclone mountain bike, with monthly sales as…
A: a) Using excel for performing regression with Sales as the dependent variable and period as…
Q: Apply the appropriate forecasting tools and techniques in predicting product demand using OM…
A: Demand forecasting is the assessment of likely future demand for an item or administration. The term…
Q: The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest…
A: The miles driven during 5 years: Year12345Mileage 30004050345038003800
Q: When we use exponential smoothing for forecasting, the alpha value (smoothing constant) that would…
A: In this question, the exponential smoothing technique is concerned with forecasting purposes, First,…
Q: Employing a 4 period moving average, forecast periods 5-8 and determine the forecast error (round 2…
A: 4 Period Moving Average forecast = sum of the actual demand of last 4 periods / 4…
Q: A police station had to deploy police officers for emergencies multiple times the lastfour evenings.…
A: Formula:
Q: In the Petroco Service Station problem, for the exponentially smoothed forecast with an a value of…
A: Forecasting is a technique used to predict future projections. It requires evaluating past trends to…
Q: The sales of XYZ company for the previous three perlods are 45, 42, and 43 respectively Entimate the…
A: Forecasting sales refers to the prediction of future sales using previous data to estimate the…
Q: a) Using a 2-year moving average, the forecast for year 6= miles (round your response to the nearest…
A: Forecasting means predicting the future. Since the future is uncertain, various methods of…
Q: The error measurement to use depends on forecast method. True False
A: The error measurement in the forecast is the difference between the observed value and the predicted…
Q: Consider the following actual and forecast demand levels for Big Mac hamburgers at a local…
A: The Formula for exponential smoothing forecast is:Ft+1 = Yt + ( 1 - ) FtHere, Ft+1 is the Forecast…
Q: The actual monthly demand of special pizza in the past 6 months were: 392, 355, 406, 427, 282, 394…
A: To find:The mean absolute percent error.Given:The actual monthly demand for 6 months are .Formula…
Q: expertise
A: The answer to this question is false
Q: Please do not give solution in image format thanku supose that the demand in period 1 was 7 units…
A: Formula: For Exponential Smoothing F(t+1) = alpha*D(t) + (1-alpha)*F(t) F(t+1) = Forecast in t+1…
Q: Sunrise is planning its purchases of ingredients for bread production. If bread demand had been…
A: Exponential smoothing could be a statistic statement technique for univariate information that may…
Q: he hotel has experi nced the following occupancy rates for ne past the coliseum opened. Compute an…
A: Forecasting refers to making predictions or estimations regarding future outcomes. Forecasting is…
Q: A distributor uses the following equation for forecasting demand of ski goggles: Y = 834 + 18*t,…
A: seasonal forecast is obtained by multiplying the forecast with the relative values fo the periods.
Q: Consider the following actual and forecast demand levels for Big Mac hamburgers at a local…
A: Given data is Alpha = 0.25
Q: Week Actual Forecast 1 33.2 46.8 2 27.6 34.9 3 37.6 51.2 4 51.5 56.7 5 68.0 77.4 6 70.2 83.8 7 90.6…
A: To use exponential smoothing to forecast the next period's demand, we use the formula: Forecast…
Q: Cafe Michigan 's manager, Gary Stark, suspectsthat demand for mocha latte coffees depends on the…
A: Given Price Number Sold $2.70 760 $3.50 510 $2.00 980 $4.20 250 $3.10 320 $4.05…
Q: Use an exponential smoothing model with a =.4 to forecast issues remediated for periods 6-10.…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In business…
Q: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown…
A: Let me state the given data, YearRegistrations1525334651169778991310161117Here, I will apply a…
Q: a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.)
A: The given details below:
Q: In the Petroco Service Station problem, for the exponentially smoothed forecast with an a value of…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: Use exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, � =…
A:
Q: The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest…
A:
Q: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown…
A: Given data is Alpha = 0.40 Forecast for year 1 = 5
Q: a. Mean absolute error. If required, round your answer to one decimal place. b. Mean squared error.…
A: Given time series data stated below, for this stated data, I would use a naive forecasting…
Q: Compute the exponentially smoothed forecast with a = 0.40, the adjusted exponentially smoothed…
A: Forecasting is predicting in advance the demand of the future. General formulas for exponential…
Q: Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the…
A: Formulae used: Linear regression forecast: Y= a+bxwhere,b= slope of the line a= Value of Ywhere…
Compute the
(Note: express all answers using 4 decimal places)
Step by step
Solved in 2 steps with 3 images
- The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has accumulated the following data on demand for unleaded gasoline from sales during the past 10 months. Compute an exponentially smoothed forecast with an a value of .30. According to the result from Excel and/or POM-QM, the forecast for the month of January would be (type number only, two decimals) Month October November December January February March April May June July 733.25 Gasoline Demanded (gal.) 800 725 630 500 645 690 730 810 1,200 980Bradley'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 α = 0.7. Forecast the number of calls for week 6, which is next week.A ski resort has recorded its recent sales as follows (in $$). Season 2 years ago Last year This year Spring 700 950 900 Summer 450 500 400 Fall 1,150 1,100 1,350 Winter 1,400 1,500 1,600 The resort estimated that the annual demand for the next year will be 4,800. What would be the forecast for next Fall? Answer: _______
- Respond to each of the items using the following time series data. Period Demand 144 2 172 3 157 4 160 144 181 7 160 8 176 9. 149 10 183 11 182 12 149 13 153 14 164 15 153 16 104 Click here for the Excel Data File b. Compute all possible forecasts using a five-period moving average. (Round your answers to 1 decimal place.) Absolute Period Demand 5-period SMA Errors 1 144 172 3 157 4. 160 5 144 181 7 160 8 176 9 149 10 183 11 182 12 149 13 153 14 164 LOThe 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.If a 2-year moving average is used to make the forecast, the Mean Absolute Deviation based on this how many miles?
- Sales of the Crown Gems have been increasing over the past five years. The operations manager has estimated sales in 2017 to be 410 Crown Gems. Using exponential smoothing with a weight of α = 0.30, the forecasts for 2017 through 2022 were developed. The forecasts for 2017 through 2022 is: Year Forecast 2016 450 2017 450 2018 463.5 2019 479.85 2021 504.795 2022 528.5565 a. Advise Crown Gems of the benefits associated with this method of forecasting. b.Caution the manager on the limitations associated with your forecast.Elna inc is a microwave manufacturing and distribution company based in Jakarta. The company needs to estimate production demand using the historical sales data of the last 24 months (periods).A logistics manager of the company then uses the moving average, exponential smoothing, and simple linear regression methods to determine sales forecasts for the next 12 months (Graphically illustrate the results). Provide an analysis and the results of bias, MAPE, MSE, and MAD for the forecasting decisions.Moving average is 4 month, and alfa is 0.0524,000-seat arena that is home to the city’s professional basketball and ice hockey teams and that hosts a variety of concerts, trade shows, and conventions throughout the year. The hotel has experienced the following occupancy rates for the past 9 years, since the coliseum opened. Compute an exponentially smoothed forecast with an α value of .20. According to the result from Excel and/or POM-QM, the forecast for the year 5 would be (type number only, two decimals) 1 83 2 78 3 75 4 81 5 86 6 85 7 89 8 90 9 86
- 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 miles (round your response to the nearest whole number). a) Using a 2-year moving average, the forecast for year 6 = 1 3,050 2 4,000 3 3,450 4 3,750 5 3,750The 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 5 3,750 a) Using a 2-year moving average, the forecast for year 6 = 3750 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 = 116.7 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) = 3750 miles (round your response to the nearest whole number). 1 3,050 2 3,950 The MAD for the forecast developed using a weighted 2-year moving average with weights of 0.35 and 0.65 = data.) 3 3,400 3,750 miles (round your response to one decimal place) (Hint You will have only 3 years of matchedThe Victory Plus Mutual Fund of growth stocks has had the following average monthly price for the past 10 months: Month Fund Price 1 62.7 2 63.9 3 68.0 4 66.4 5 67.2 6 65.8 7 68.2 8 69.3 9 67.2 10 70.1 Compute the forecast for Month 11 using the exponentially smoothed forecast with α=.40, Compute the forecast for Month 11 using the adjusted exponential smoothing forecast with α=.40and β=.30, and Compute the forecast for Month 11 using the linear trend line forecast. (Compute a and b by constructing columns xy and x^2) Compare the accuracy of the three forecasts, using cumulative error and MAD, and indicate which forecast appears to be most accurate.