FORECASTING- EXPONENTIAL SMOOTHINGQUESTION 3PERIODАCTUAL142240343440541397468449.451038114012a) Consider exponential smoothing forecasts using smoothing constants (a) 0.1 and 0.4

In the question, we have time-series data, Actual data are presented over 11 periods, I would use…

Answered: FORECASTING- EXPONENTIAL SMOOTHING…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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eBook Problem 6-05 Consider the following time series data. 3 16 Week 1 Week 2 Value 18 13 a. Choose the correct time series plot (1) € (!!!) Time Series Value Time Series Value 28642986420 284H2G86420 1 4 11 2 {B} 2 TH 3 Week (t) Week (t) 5 6 € (iv) Time Series Value Time Series Value 28642 NO 28642 NO 1 2 2 4 3₁ Week (t) Week (t) 5 6
It wouldnt let me take a screenshot of the table so I had to copy and paste it in here. My question is: How do you Calculate a moving average forecast using the last 2 and 4 dates of stay. What is the prediction for 7/1/2021 for each technique? Discussion Question 1 - 200 room hotel Forecasts MA 2 Errors MA 4 Errors ES (0.8) Errors ES (0.5) Errors Date Day of Week Rooms Sold MA 2 MA 4 ES (0.8) ES (0.5) AE APE AE APE AE APE AE APE 6/1/2021 Tuesday 123 6/2/2021 Wednesday 109 6/3/2021 Thursday 140 6/4/2021 Friday 199 6/5/2021 Saturday 179 6/6/2021 Sunday 140 6/7/2021 Monday 117 6/8/2021 Tuesday 132 6/9/2021 Wednesday 108 6/10/2021 Thursday 151…
Font Paragraph Styles Question 3 Consider the following from an estate agent's business nationally: Month Houses Sold Jan Feb Mar 380 360 390 Apr May June July Aug Sep Oct 400 390 380 394 454 460 460 Nov Dec 430 370 a) Calculate the three point moving averages (quarters) and seasonal variation for the above data b) Define moving averages and how they're useful in forecasting (use Harvard referencing) c) At races, your horse, White Rum, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of 4 in coming 3rd. First place pays $5,000 to the winner, second place $4,000 and third place $1,350. Hence, is it worth entering the race if it costs $1050?
14 Community General Hospital finds itself treating many bicycle accident victims. Data from the last seven 24-hour periods is shown below: Day Bicycle Victims 1 8 2 14 3 8 4 14 5 18 6 15 With an alpha value of 0.31 and a starting forecast in day 3 equal to the 21 , what is the exponentially smoothed forecast for day 4? (Round to two decimal places) 15 What is the exponentially smoothed forecast for day 5? (Round to two decimal places)
Give typed explanation Part 2: Using exponential smoothing, the forecasted demand for period 5 using the smoothing constant determined in image= ?
Given the following historical data, what is the simple three-period moving average forecast for period 6? Period 1 2 3 4 5 67.67 68.2 67.3 68.4 Value 73 66 64 73 66
a. What is the mean square error for time periods 2 through 4 using the average forecasting method? b. What is the mean absolute error for time periods 2 through 4 using the average forecasting method? c. What is the mean absolute percentage error for time period 2 through 4 using the average forecasting method? Round all answers to two decimal places. Time Period 1 2 3 4 Mean absolute error (MAE) Mean squared error (MSE) Mean absolute percentage error (MAPE) Electric Bill 510 315 420 480 Average Forecast Forecast Error
Which of the following are common metrics for measuring the relative quality of different forecasting methods? OAbsolutely Mean Mean Squared Accuracy O Mean Absolute Percent Error Mean Squared Response OMean Squared Error Mean Absolute Error (a.k.a. Mean Absolute Deviation)
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).
14 Community General Hospital finds itself treating many bicycle accident victims. Data from the last seven 24-hour periods is shown below: Day Bicycle Victims 1 8 2 14 3 8 4 14 5 18 6 15 With an alpha value of 0.31 and a starting forecast in day 3 equal to the 21 , what is the exponentially smoothed forecast for day 4? (Round to two decimal places) 15 What is the exponentially smoothed forecast for day 5? (Round to two decimal places) 16
Given the following original forecast and actual data: Month Actual Forecast Jan Feb Mar Apr May Jun Jul 600 475 550 575 688 649 ??? 400 —— 1 ??? Using exponential smoothing with a - = 0.64, what is the forecast for July. Round your answer to 2 decimal places.
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FORECASTING- EXPONENTIAL SMOOTHING QUESTION 3 PERIOD ACTUAL 1 42 40 3 43 4 40 41 39 7 46 8 44 9. 45 10 38 11 40 12 a) Consider exponential smoothing forecasts using smoothing constants (a) 0.1 and 0.4