For the data below, answer the following four questions:Period Demand158259360461What would be the simple moving average forecast for the 5th period?68.25860.759.561

Forecasting is done to predict the actuals in the upcoming periods .There are several quantitative…

Answered: For the data below, answer the…

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 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 milles driven during the past 5 years are K as follows Year Mileage 3,000 2 3 4,000 3,400 4 3,800 5 3,700 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 miles (round your response to a whole number). (Hint: You will have only 3 years of matched data)
The following table shows the actual demand observed over the last 4 years: 1 Year Demand 8 Year Forecast (ES) 1 7.0 Using exponential smoothing with a = 0.30 and a forecast for year 1 of 7.0, provide the forecast from periods 2 through 5 (round your responses to one decimal place). 3 5 Provide the forecast from periods 2 through 5 using the naive approach (enter your responses as whole numbers). Year Forecast (NA) 2 10 2 2 3 4 3 4 4 9 4 5
Use simple exponential smoothing with a -0.8 to forecast electric scooter sales at Guelph- Humber Inc. for July. Assume that the forecast for May was for 45 electric scooters. Round your answer to 1 decimal Electric Scooter Sales Month May 42 June 47 July 45 August 40 Weekly demand for medical masks for the last five weeks at Chopper Drug Store has been as follows: 92, 96, 100, 100 and 102 (listed from the oldest to most recent). Suppose a naive forecast was used to forecast demand. What would the MAD be for this situation? Enrollment in a particular Yoga class at Guelph Fitness Centre for the last five months has been 80, 86, 88, 88 and 90(listed from the oldest to most recent). Suppose a two-month mov average was used to forecast enrollment. What would the MSE be for this situation?
The following table shows the actual demand observed over the last 11 years: Year Demand 1 7 Year Forecast 2 8 2 3 4 3 4 10 4 Using exponential smoothing with a = 0.30 and a forecast for year 1 of 6.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place). 3 2 4 5 6 T 8 9 Year 1 Forecast 6.0 Provide the forecast from periods 2 through 12 using the naive approach (enter your responses as whole numbers) 5 12 5 6 7 6 7 8 11 14 7 8 9 10 9 10 10 10 13 11 11 11 8 12 12
12-1. The Hartley-Davis motorcycle dealer in the Minneapolis- St. Paul area wants to be able to forecast accurately the de- mand for the Roadhog Super motorcycle during the next month. From sales records, the dealer has accumulated the data in the following table for the past year. Month January February March April Мay June Motorcycle Sales 7 10 8 7 12 July August September 10 11 12 October 10 November December 14 16 a Compute a three-month moving average forecast of demand for April through January (of the next year). b. Compore a five-month moving average forecast for June drough January. c. Compare the two forecasts computed in parts (a) and (b) using MAD. Which one should the dealer use for January of dhe next year?
14.5. For the data in Exercise 14.4, use an a of 0.1 to make a forecast for July F Ft-1 + 0.1(At-1-Ft-1) Months January 15 February 18 March 22 23 27 26 April May June Demand Smoothing unit (At) (St) July 15 15.3 15.97 16.67 17.7 18.53 Forecast for July= 18.53 Forecast (Ft) 15 15.3 15.97 16.67 17.7 18.53
The director of the Riley County, Kansas, library systemwould like to forecast evening patron usage for next week.Below are the data for the past 4 weeks: a) Calculate a seasonal index for each day of the week.b) If the trend equation for this problem is y = 201. 74 + .18x,what is the forecast for each day of week 5? Round your forecastto the nearest whole number.
Prepare a graph of the monthly forecasts and average forecast demand for Chicago Paint Corp., a manufacturer of specialized paint for artists. Compute the demand per day for each month (round your responses to one decimal place). Month January February March April May June July August September October November December Choose the correct graph of the forecast demands below. OA Production Days 2222222222 23 19 20 21 20 23 21 20 19 Demand Forecast 950 1,050 1,250 1,350 1,300 1,300 1,250 1,150 1,050 1,000 1,000 950 Demand per Day 325
Given the table below, complete the missing cell values applying the Exponential Smoothing method of forecasting and Mean Absolute Deviation. Answer also the other 2 related questions below the table. Numbers with decimal should take 2 decimal places. Actual Quarter Tonnage Unloaded 1 2 3 4 5 6 7 8 175 160 170 160 160 170 180 200 Forecast for a=3 175 175.0 170.5 167.2 165.1 166.6 170.6 Sum of absolute deviation = Absolute Deviation for a = .3 Other questions: (1) What is the MAD for a = .3? (2) Which smoothing constant would you prefer? 0.00 15.00 0.50 10.35 4.93 13.45 29.41 80.89 Forecast for a = .6 175 166.0 168.4 163.4 161.3 166.5 174.6 Absolute Deviation for a = .6 0.00 15.00 4.00 8.40 3.36 8.66 13.46 25.38
The demand data for Double T Computer Services appears below. The company wants you to forecast the demand for period 4. What is your forecast using the least squares method? Period Demand 1 37 2 40 3 40
st Info Period 1 2 3 4 5 6 7 8 9 10 K Develop two exponential smoothing forecasts for periods 2 through 11. For the first forecast, use a = 0.3. For the second, use α = 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 = 0.3 (enter your responses rounded to one decimal place). Demand 222 249 222 228 235 155 161 153 163 152 X Period 1 2 Demand 222 249 Forecast (α = 0.3) 205
One forecasting model was used to forecast demand for a product. The forecasts and the demand are shown in the table below. Use two decimals in your answer. Actual Forecast 1 40 41 2 35 38 3 38 35 4 33 30 The Mean Absolute Deviation (MAD) is O 0.5 2.5 O 1.48 7.01

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For the data below, answer the following four questions: Period Demand 1 58 59 60 61 What would be the simple moving average forecast for the 5th period? O 68.2 O 234 58 60.7 59.5 61