Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: 1 2 3 8 9 10 11 Year Registrations (000) 4 6 4 What is the MAD? 2.54 5 6 7 5 10 8 7 9 12 14 15 a. Develop a 3-year moving average to forecast registrations from year 4 to year 12. What is the forecast? 13.67 b. Estimate demand again for years 4 to 12 with a 3-year weighted moving average in which registrations in the most recent year are given a weight of 2, and registrations in the other 2 years are each given a weight of 1. What is the forecast? [Select] What is the MAD? [Select] c. Use exponential smoothing with (a = .47), assume the initial period forecast is 5. What is the forecast for the next period? [Select] ✓ What is the MAD? [Select] d. Based on Error Analysis, which of the forecasting methods seems better? [Select]

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: 1 2 3 8 9 10 11 Year Registrations (000) 4 6 4 What is the MAD? 2.54 5 6 7 5 10 8 7 9 12 14 15 a. Develop a 3-year moving average to forecast registrations from year 4 to year 12. What is the forecast? 13.67 b. Estimate demand again for years 4 to 12 with a 3-year weighted moving average in which registrations in the most recent year are given a weight of 2, and registrations in the other 2 years are each given a weight of 1. What is the forecast? [Select] What is the MAD? [Select] c. Use exponential smoothing with (a = .47), assume the initial period forecast is 5. What is the forecast for the next period? [Select] ✓ What is the MAD? [Select] d. Based on Error Analysis, which of the forecasting methods seems better? [Select]

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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