George Kyparisis owns a company that manufactures sailboats. Actual demand for George's sailboats during each of the past four seasons was as follows:YearD21,2401,4402,140770George has forecasted that annual demand for his sailboats in year 5 will equal 6,000 sailboats.Based on the given data and using the seasonal model, the demand level for George's sailboats in the spring of year 5 will bea whole number and round all intermediate calculations to two decimal places).SeasonWinterSpringSummerFall11,4401,5601,04068031,0801,6202,04065049601,5401,960500sailboats (enter your final answer as

Seasonal average = sum total of a season of all years / number of years Grand average = Average of…

Answered: George Kyparisis owns a company that…

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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Similar questions

Tom’s Towing LLC operates a fleet of tow trucks that it sends to help drivers in needon the nearby highway. The numbers of calls requesting a tow truck for Monday, Tuesday, Wednesday, and Thursday were 27, 18, 21, and 15, respectively. What would be itsforecast for Friday using a naïve forecasting approach?
part b
10. Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 4 months were as follows: Month Price Per Chip January $1.85 February $1.61 March $1.63 April $1.83 This exercise contains only parts a, b, and c. Part 2 a) Using a 2-month moving average, calculate the forecast for March and April (round your responses to two decimal places). Month Mar Apr Forecast $________ $________
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table: YEAR DEMAND FOR FERTILIZER (1,000S OF BAGS) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15 a) Develop a 3-year moving average to forecast demand?
12.7 The Intrepid mutual fund of growth stocks has had the following average monthly price for the past 10 months. Month 1 2 3 4 5 6 7 8 9 10 Fund Price 62.7 63.9 68.0 66.4 67.2 65.8 68.2 69.3 67.2 70.1 Compute the exponentially smoothed forecast with a = 0.40, the adjusted exponentially smoothed forecast with a = 0.40 and ß = 0.30, and the linear trend line forecast. Compare the accuracy of the three forecasts using cumulative error and MAD, and indicate which forecast appears to be most accurate.
Given: Year Demand 1 7 2 9 3 5 4 9 5 Predict the value for Year 5: 2 year moving average What is MSE for 2 year moving average? 2 year moving average using 0.6 (weight for the oldest period) and 0.4(weight for most recent period Exponential smoothing, =0.2 and forecast for Year 1 = 5 Linear trend Which forecast method has the least amount of error using MAD? What is the coefficient?
The following data shows sales forecast of Axis Dealer for motorbikes. Month Demand 1 650 700 3 810 4 800 5 900 6. 700 7 i. What are the 3-months moving average forecasts for months 4, 5, 6 & 7? ii. What are the 3-month Wt. Moving Average (weights: 0.2, 0.3, 0.5) for months 4, 5, 6 & 7? iii. Calculate an exponential smoothing forecast for the given data with an alpha of 0.1 for months 2, 3, 4, 5, 6 & 7. Assume a forecast of 650 for month 1. Show the formula and working method.
Below is data of lobster sales volume from a seafood company. We are using exponential smoothing (α = 0.5) and 3-year moving average to forecast it. Please fill the blanks above and write your processes below. What are the mean absolute deviations (MADs) of the two methods? Which method will you choose based on the results?
The Fieldale Dairy produces cheese, which it sells to su-permarkets and food processing companies. Because of concerns about cholesterol and fat in cheese, the companyhas seen demand for its products decline during the pastdecade. It is now considering introducing some alternativelow-fat dairy products and wants to determine how much available plant capacity it will have next year. The com-pany has developed an exponential smoothing forecast with 0.40 to forecast cheese. The actual demand andthe forecasts from its model are shown as follows: Assess the accuracy of the forecast model using MAD and cu-mulative error, and determine if the forecast error reflects bias using a tracking signal and 3 MAD control limits. If the ex-ponential smoothing forecast model is biased, determine if a linear trend model would provide a more accurate forecast.
part b)
Income at the law firm of Smith and Jones for the period February to July was as follows: Month February March April May June July Income (in $ thousand) 90.0 91.5 96.0 85.4 92.2 96.0 Assume that the initial forecast for February is $85,000 and the initial trend adjustment is 0. The smoothing constants selected are a = 0.1 and ß = 0.2. Using trend-adjusted exponential smoothing, the forecast for the law firm's August income =O thousand dollars (round your response to two decimal places).
The manager of XYZ carpet cleaning company needs a weekly forecast of the number of customers expected next year. The carpet cleaning business is seasonal with the following weekly demand data from the past 2 years Week 1 in Year 1 Demand=102 Week 1 in Year 2 Demand=114 Year 1 Demand=10608 Year 2 Demand=10708 Q8a) Calculate the seasonal factor for Week 1 Q8b) Calculate the demand in the first week in the third year ( knowing that Year 3 Forecasted Demand is11779)

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