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).PeriodForecast (0.1)20512More InfoPeriod12345678910PrintDemand228249229238231154166157Demand228249164161Done

Given: The exponential smoothing for first forecast is α=0.1 and for second forecast is α=0.7. The…

Answered: Develop two exponential smoothing…

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 exponential smoothing with trend adjustment to forecast deliveries for period 5. Let α = 0.1, β = 0.2, and let the initial trend value be 4 and the initial forecast be 200 (both are given in the table). (a) Complete the table below and to predict the demand for Period 5 (See image). Show the calculations for the demand for Period 2. (b) Based on the actual demands of the first 4 periods forecast the demand for period 5 using the linear regression method. (c) Which method performs better based on the actual demand for period 5? Why do you think so?
Quarter. 2018 2019 2020 1 66 73 85 2 106 119 130 3 140 165 205 Using the same data in table 4 82 91 100 a) Use the technique of least squares method, find the trend line b) Find the trend values c) Forecast the sales for 2021 second quarter. d) Plot the time series data and trend line.
a) Forecast the demand for the week of October 12 using a 3-week moving average. b) Use a 3-week weighted moving average, with weights of .1, .3, and .6, using .6 for the most recent week. Forecast demand for the week of October 12. c) compute the forecast for the week of Oct 12 using exponential smoothing with a forecast for august 31 of 360 and alpha 0.2
8.2 Given the following data, calculate the three-month moving average forecasts for months 4, 5, 6, and 7. Month 1 2 3 4 5 6 7 Actual Demand 60 70 40 50 70 65 Forecast
(Use excel to show formulas used) Use regression or simple exponential smoothing with the following data. For exponential smoothing, assume the forecast for year 1 was the same as the actual and use an alpha of 0.7. Year Sales 1 290 2 340 3 400 4 410 5 400 Forecast Year 6 sales. Compute MAD.
Tools View Week 3 Bonus Activity- DEMAND FORECASTING CASE STUDY After reviewing the forecasting demonstration and looking over the slides, complete the following case activity and transfer your answers to the appropriate questions in the Canvas activity quiz. You have been hired as a demand planning intern for Hawaiian Island Creations (HIC). They want you to de- velop a forecast for their HIC Papanui style of sun- glasses. The goal is to determine how many pair they will produce to meet retailer demand in July 2021. During your first meeting, you were handed some data to work with and the product team talked about the company's upcoming promotional blitz to support Summer Break '21 in major vacation destinations. Month Forecast Demand January 2021 4.000 3,300 February 2021 4,200 3,900 March 2021 4,500 4,300 April 2021 4.800 4,200 May 2021 5 000 5.400 of 4 P Type here to search 立
Use the following information to compute a single exponential smoothing model forecast with a smoothing constant (α = 0.30) to produce the actual demand for the period.) Use 115 as the initial forecast. Click the icon to view the demand for the previous 9 periods. Fill-in the table below for a single exponential smoothing forecast (enter your responses rounded to one decimal place). Period F(SES) 1 2 3 4 5 6 7 8 9 The forecast for period 10 is Period 1 115 117 182 23456789 133 107 96 177 176 (Enter your response rounded to one decimal place.) 144 U at 115 117 182 133 107 96 177 176 144 forecast for period 10. (Note: a, is
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…
Historical sales data is shown below. Week Actual Forecast 1 328 300 2 272 3 245 4 223 5 205 6 Using alpha (α) = 0.2, what is the exponential smoothing forecast for period 6? Note: Round your answer to 2 decimal places. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
For the data set Download data set, perform exponential smoothing with alpha = 0.1 to determine the forecast for week 20 (click on the arrow to download the file). Be sure to label the forecasted value for week 20. You must show all work in an Excel file and upload the Excel file. Gasoline data set week Sales (1000s of gallons) 1 17 2 21 3 19 4 23 5 18 6 16 7 20 8 18 9 22 10 20 11 15 12 22 13 31 14 34 15 31 16 33 17 28 18 32 19 30
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 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 matched
Based on above assume you are using the moving average forecasting method based on the last four observations. When making the forecast for the last period, theoldest of the four observations was 1945 and the forecast was 2083. Thetrue value for the last period then turned out to be 1977. Calculate yourforecast for the next period. Can you show on excel?

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