The following data shows sales forecast of Axis Dealer for motorbikes.MonthDemand1650270038104800900700i.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?ii.Calculate an exponential smoothing forecast for the given data with an alpha of 0.1for months 2, 3, 4, 5, 6 & 7. Assume a forecast of 650 for month 1.Show the formula and working method when necessary.

Forecasting is estimated predictions for the present as well as for the future as per the past data.…

Answered: i. What are the 3-months moving average…

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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2) Develop forecasts for FY2023 using the two forecasting methods currently employed by Throx. a) What are the forecast values that you calculated for each? Please be sure to showwork. b) What forecast do you recommend using? Please provide your rationale. c) Are there other considerations or recommendations that you would recommend toThrox about their forecast. PLEASE INCLUDE FORMULAS USED in EXCEL FORMAT. Trying to verify if formulas used were correct.
2)Auto sales over a 4-month period were forecasted as follows: 89, 98, 105, and 97. The actual results over the 4-month period were as follows: 92, 96, 101, and 100. What was the MAD of the 4-month forecast? (use an excel sheet to make all calaculations and show formulas used in excel)
14. Consider the following time series. t 1 2 3 4 7 Yt 120 110 100 96 94 92 88 a. Construct a time series plot. What type of pattern exists in the data? b. Develop the linear trend equation for this time series. c. What is the forecast for t = 8?
1. Discuss the differences between Qualitative and Quantitative forecasting models. How do Associative and Time Series techniques differ? 2. What is the Mean Absolute Deviation (MAD)? 3. Use the following set of data to calculate the Mean Absolute Deviation (MAD) for the following set of data. Actual (A:) Forecast (Ft) Forecast Error Absolute (Deviation) Month Forecast Eror January February March 45 45 42 50 34 45 April 48 40 Мay 38 45 MAD =
4. The sales (in millions of dollars) for an 18-month period are as follows. Month Sales Month Sales 1 600 600 775 10 775 3 600 11 600 4 650 12 575 700 13 625 800 14 650 550 15 600 8 775 a. Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.1. Which provides the better forecasts based on MSE? b. Find the forecast for the next month using the best forecast method. 2.
i need this to study stop canceling my questions A check-processing center uses exponential smooth- ing to forecast the number of incoming checks each month. The number of checks received in June was 40 million, while the fore- cast was 42 million. A smoothing constant of .2 is used. a) What is the forecast for July?b) If the center received 45 million checks in July, what would be the forecast for August?c) Why might this be an inappropriate forecasting method for the situation
4. What is the difference between trend and seasonality in time series data? 5. Here are the errors associated with a particular forecast over the past 5 months, in chronological order: 5, 10, -15, 0, 8. In which month was the forecast perfectly accurate? In which month was the forecast the least accurate? In which month or months was the forecast too high? (Noteshaper Ramp Up # 23) 6. Tutoring Center needs to allocate tutors this week for office appointments, so it needs to forecast the number of students who will seek appointments. The director has gathered the following time series data recently: Time Period Code Student Appointments Jan 6 - 10 95 Jan 13 - 17 80 Jan 20 - 24 65 Jan 27 – 31 4 50 a) What is the naïve forecast for the number of student appointments for Time Period 5 (Feb 3– 7)? b) What is the 2 week moving average for Time Period 5? c) What is the 3 week moving average for Time Period 5? d) What is the forecast for Time Period 5 using exponential smoothing with alpha =…
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
A forecast for the first six months of the year revealed a tendency to underpredict the actual demand for the revitalized Hubig’s Pies plant in the Marigny. Month Actual Forecast January 675 600 February 720 700 March 640 620 April 510 495 May 480 410 June 565 535 What is the mean squared error of this forecast? a. 1,694 b. 1,873 c. 2,075 d. 1,469
None
Freya is a new name in the retail industry that just started off its journey. With the right strategies, the brand’s grandeur will only rise with time. However, the founders really want to predict the customer demand right for the month of June. Hence, they need to figure out the right forecasting techniques. They are considering 2-period Moving Average, Naive technique, and Exponential Smoothing (use any value between .10 - .18 as the value of alpha). Figure out the better forecasting technique among 2 periods Moving Average, Naive technique, and Exponential Smoothing by doing the error calculation. Period Demand 2period Moving Average Naive technique Exponential Smoothing January 80 85 82 70 February 84 82 ** ** March 89 ** ** ** April 95 ** ** ** May 98 ** ** **

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