Given is a historical time series for job services demand in the prior 6 months.   Month Demand 1 702 2 711 3 714 4 701 5 689 6 711 The Period 6 forecast by using weighted moving average with weights of 0.05, 0.25, 0.40, and 0.30 =  (in 2 decimal places)

Q: Sales of tablet computers at Marika Gonzalez's electronics store in Washington, D.C., over the past…

A: Ans)

Q: A police station had to deploy a police officer for an emergency multiple times in the last four…

A: The technique of Naïve forecasting is when the previous period's sales are utilized to anticipate…

Q: Income at the law firm of Smith and Jones for the period February to July was as follows: February…

A: 1. Calculate the forecast for February using the initial forecast and trend adjustment of 0:Forecast…

Q: a) Is there a strong linear trend in sales over time? b) Fill in the table with what Bob and Sherry…

A: Using excel for performing regression with Sales as the dependent variable and period as independent…

Q: Consider the following time series data.    Month  1     2     3      4         5          6…

A: MSE stands for Mean squared error. It calculates the average squared difference between the forecast…

Q: The value of the forecast is _________patients ​(round your response to two decimal​ places).

A: Forecast = sum of the product of weights and actual no.of patients/sum of weights

Q: (b) Use a - 0.1 to compute the exponential smoothing values for the time series. (Round your answers…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Sales of Volkswagen's popular Beetle have grown steadily at auto dealerships in Nevada during the…

A: Exponential smoothing forecasting is a time series forecasting method that uses weighted averages of…

Q: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown…

A: Exponential smoothing determine with following formula Exponential smoothing = Alpha*At+(1-Alpha)*Ft…

Q: Year Year Forecast (000) 1 2 3 4.00 7.00 5.00 1 5.00 Registrations (000) a) Calculate the forecasted…

A: The exponential smoothing forecast is a form of time series forecasting that is used to predict…

Q: Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten…

A: Simple Linear Regression Y = a + b*X a = Intercept b = Slope X = Independent Variable (Year )

Q: The table below shows forecasts and true values Quarter Forecast True Value 1 327 345 2 332 317 3…

A: Quarter Forecasted valueTrue value 1327345233231733283364330311

Q: The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this…

A: Weighted moving average is a forecasting model that consider the weighted values from actual demand…

Q: What is the Simple Exponential Smoothing forecast for September if we use alpha smoothing constant…

A: Simple exponential Smoothing is time series forecasting method. It is calculated with following…

Q: What will be the demand forecast for period t? (Keep one decimal place in your answer).

A: The weighted average moving forecast is a technique that is used to predict the future of a…

Q: A police station had to deploy a police officer for an emergency multiple times in the last four…

A: Naive forecasting is an forecast estimation technique in which the current period forecast is equal…

Q: Harlen Industries Limited has a simple forecasting model whose forecast demand has been plotted…

A: In this question, we have the table data for an 8 periods duration, for each period, we have actual…

Q: c) If the forecasted demand for the week of August 31 is 350 and a=0.20, using exponential…

A: Calculation of the forecast of each of the week by exponential smoothing method using the formula…

Q: The manager of a utility company in the Texas panhandle wants to develop quarterly forecasts of…

A: The seasonal demand for last 4 years is given below:Forecasted demand for Year 5 = 685

Q: Determine the Forecast Error for the data below using the Mean Absolute Percentage Error (MAPE)…

A: Error = Demand - Forecast  Absolute Error = Positive value of Error Percent Error = (Absolute error…

Q: Consider the following actual and forecast demand levels for Big Mac hamburgers at a local…

A: The Formula for exponential smoothing forecast is:Ft+1 =  Yt + ( 1 - ) FtHere, Ft+1 is the Forecast…

Q: The actual monthly demand of special pizza in the past 6 months were: 392, 355, 406, 427, 282, 394…

A: To find:The mean absolute percent error.Given:The actual monthly demand for 6 months are .Formula…

Q: Calanute Beach Resort, a fictional seaside luxury hotel in Goa, India, had the following occupancy…

A: Find the Given details below: Given details: Month Occupancy Rate in % 1 65 2 68 3 72 4…

Q: The following table gives the number of pints of type A blood used at Damascus Hospital in the past…

A: Forecasted demand helps businesses plan their production, inventory, and distribution more…

Q: exponential functions for trend data. Assume an initial exponential Forecast of 620 units in period…

A: Below is the solution:-

Q: Sales of tablet computers at Marika Gonzalez's electronics store in Washington, D.C., over the past…

A: Find the given details below:

Q: Sales of tablet computers at Ted Glickman's electronics store in Washington, D.C., over the past 10…

A: Given, Week Demand 1 20 2 23 3 27 4 37 5 26 6 30 7 35 8 22 9 24 10 29…

Q: A manager uses a trend equation plus quarterly relatives to predict demand. Quarter relatives areSR1…

A: Quarter relatives-SR1 = .90SR2 = .95SR3 = 1.05SR4 = 1.10The trend equation is: Ft = 10 + 5t

Q: National Standard, Inc. sells radio frequency identification (RFID) tags. Monthly demand for a…

A: Note: - Since we only answer up to 3 sub-parts, we’ll answer the first3. Please resubmit the…

Q: Use simple exponential smoothing with a -0.8 to forecast electric scooter sales at Guelph- Humber…

A: Given data, MAY 42 JUNE 47 JULY 45 AUGUST 40

Q: a. Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = .1.…

A: Forecasting is the process of predicting the future demand based on the previous data or demand.

Q: a) Using simple linear regression, the forecast for the number of disk drives to be made next year =…

A: In this question, for each year, I have disk drives data, using the Ms Excel software, I have…

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.