Maria Exports Limited is a major garment export house based on China. The sales figures (in1000 units) of a particular garment during the past 20 weeks are given in table below.21.9423.9423.68Week1234523.046789101112BABBE9281314151617181920Demand21241822272321255545271819Find the simple exponential smoothing forecast for all the 20 weeks and also forecast thedemand for 21" week. Assume a = 0.2 and F, = 21. (Round to two decimals)222624172129272325

The forecasting process can involve the use of different methods like the moving average, weighted…

Answered: Find the simple 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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Professor Very Busy needs to allocate time next week to include time for office hours. He needs to forecast the number of students who will seek appointments. He has gathered the following data: Week 6 weeks ago 5 weeks ago 4 weeks ago 3 weeks ago 2 weeks ago Last week # Students 83 110 95 80 65 50 What is this week's forecast using trend-adjusted (double) smoothing with alpha = .5 and beta = .1, if the forecast for last week was 65, the forecast for two weeks ago was 75, and the trend estimate for last week's forecast was -5? 49.3 78.7 51.3 50.6 65.4
6. Consider the following data table. (12 Points) a) Forecast demand using exponential smoothing with an apha of 0.25, and an initial forecast of 128.0 for period 1. b) Calculate the MAD and MSE. Period Real demand 130 138 129 140 3 4 5 133
Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two moving average forecasting methods to see which one was better over this period. Month Actual Demand Jan 120 Feb 140 March 160 April 180 May 170 June 190 July 150 August 160 September 170 a. Forecast April through September using a three-month moving average and calculate MAD for the forecasts. b. Forecast May through September using a four-month moving average and calculate MAD for the forecasts.
Using exponential smoothing with alpha = .2, and assuming the forecast for period 11 was 80, what would the forecast for period 14 be?
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d) Using exponential smoothing with α = 0.40 and the forecast for year 1 being 3,000, the forecast for year 6 = ? miles (round your response to the nearest whole number).
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41) A medium-term forecast is considered to cover what length of time? A) 2-4 weeks B) 1 month to 1 year C) 2-4 years D) 5-10 years E) 20 years 42) When is the exponential smoothing model equivalent to the naÃ¯ve forecasting model? A) ? = 0 B) ? = 0.5 C) ? = 1 D) during the first period in which it is used E) never 43) Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130. Suppose a one-semester moving average was used to forecast enrollment (this is sometimes referred to as a naÃ¯ve forecast). Thus, the forecast for the second semester would be 120, for the third semester it would be 126, and for the last semester it would be 110. What would the MSE be for this situation? A) 196.00 B) 230.67 C) 100.00 D) 42.00 E) None of the above 44) Which of the following methods tells whether the forecast tends to be too high or too low? A) MAD B) MSE C) MAPE D) decomposition E) bias 45) Assume that you have tried three different…
Based on the information in the following table, use the Exponential Smoothing Approach (a = 0.3) to forecast the demand for periods 4-13 %3D PERIOD MONTH Demand Forecast 1 Jan 222 Feb 192 222 3 Mar 212 213 Apr 202 May 220 Jun 200 7 Jul 113 Aug 175 6. Sep 277 10 Oct 211 11 Nov 249 12 Dec 144 13 Jan 6o 00
Using linear regression analysis, what would you estimate demand to be for each month next year? Month Forecast January February March April May June July August September October November December
Given an actual demand this period of 143, a forecast value for this period of 119, and an alpha of .6, what is the exponential smoothing forecast for next period? 123.8 118.2 O 122.2 119.8 O 117.4

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Find the simple exponential smoothing forecast for all the 20 weeks and also forecast the demand for 21-week. Assume a 0.2 and F, -21. (Round to two decimals) 21.94 23.94 23.68 23.04