If the weights for a moving average forecast with a span of 4 are: 0.3,0.2,0.2,0.4 Problem: Under prediction Problem: Over prediction No problem
Q: Sales of tablet computers at Marika Gonzalez's electronics store in Washington, D.C., over the past…
A: Ans)
Q: Consider then, the nature and characteristics of forecasting. What do you think the difficulties or…
A: Forecasting is a method where historical data is used an input to make output in the form of data…
Q: Ed Rogers owns an appliance store. Sales data on a particular model of a DVD player for the past six…
A: Absolute Error = | Actual sales - Forecast | MAD = Average of Absolute Error
Q: Complete the forecasting worksheets for: Naïve Average Moving Average Weighted Moving Average using…
A: Weighted Moving Average using the weights of .8, .15, and .05 ExponA use an alpha level of .75ExponB…
Q: The owner of Darkest Tans Unlimited in a local mall is forecasting this month's (October's) demand…
A: The following formula for exponential smoothing forecast (Alpha*Actual demand)+(1-alpha)*Forecast…
Q: True
A: Naive forecasting is the method in which the last period's sales are used for the next period's…
Q: Using an exponential smoothing model with an alpha value of 0.20, estimate the smoothed value…
A: The answer is as below:
Q: What is your forecast for next year’s sales?
A: The least squares method is a statistical technique that is used to estimate the parameters of a…
Q: The following are monthly actual and forecast demand levels for May through December for units of a…
A: A forecast refers to a prediction or estimation of future events or conditions based on available…
Q: Ed Rogers owns an appliance store. Sales data on a particular model of a DVD player for the past six…
A: Using the above formulae : Actual of May = 51 Forecast of May = 36.25 alpha = 0.4 Forecast of…
Q: a. Is a trend evident in the data? Which time-series techniques might be appropriate for estimating…
A: The effectiveness of forecasting techniques relies on various factors, notably the data's quality,…
Q: Based on the following equation for a moving average forecast, what would have been the three week…
A: Here, each week has the revenue data, I will apply the 3-week moving average technique, the 6-week…
Q: What is the coefficient?
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In business…
Q: Given four forecast errors of 3, -1, -4 and 3. What is the tracking signal that results from these…
A: The concept of Operation Management: Operation management is the management that applies to a…
Q: The following are monthly actual and forecast demand levels for May through December for units of a…
A: Given data: Month Actual Forecast May 100 100 June 78 104 July 108 97 August 112 104…
Q: The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest…
A: Note:-We’ll answer the first three subparts of the question since the exact one wasn’t specified.…
Q: After using your forecasting model for six months, you decide to test it using a tracking signal.…
A: I have solved this problem using Excel and Here are the Excel formulas:
Q: The following gives the number of accidents that occurred on Florida State Highway 101 during the…
A: Given data is
Q: (5000 S) Assume that the initial forecast for February is 30.0 (in $ thousands) and the initial…
A: Ft = alpha*actual of previous period +(1-alpha)*previous forecast trend = beta*(Ft of same - Ft of…
Q: The following are monthly actual and forecast demand levels for May through December for units of a…
A: A tracking signal is a tool utilized in statistics and management science to observe forecasts and…
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: 1. Which of the following is indicative of the season of heaviest demand when seasonality is…
A: The seasonal index of 1.25 indicates the season of heaviest demand because this is 125% that shows…
Q: Starbucks has a large, global supply chain that must efficiently supply over 17,000 stores. Although…
A: WEEK−5−4−3−2−112345678910111213Atlanta463532543433463633552820584536255541Boston59264841333534434346…
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: The following data show the number of liters of gasoline sold by Mackrin's in Colorado for the past…
A: a) It is clear from the results that Exponential smoothing forecast model provides the Lowest mean…
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: The following gives the number of accidents that occurred on Florida State Highway 101 during the…
A: The least square regression model considers Y=a+bx. Here, "a" indicates intercept and "b" indicates…
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: wine sold by the Connor Owen winery in an eight-year period is as follows: YEAR CASES OF MERLOT…
A: Given :To find :Forecast for year 8 using exp. smoothing
Q: 4) A small manufacturing firm has recorded a time series of the cost per unit for the firm's leading…
A: Forecasting is the process of predicting future values of a variable or a time series based on…
Q: Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS…
A: Most Recent Quarter = 0.50 Second most recent Quarter = 0.25 Third most recent Quarter = 0.25
Q: For the given forecast, the tracking signal = MADS (round your response to two decimal places).
A: The tracking system is a concept that helps to analyze the performance of a forecasting method or…
Q: The following are monthly actual and forecast demand levels for May through December for units of a…
A: A tracking signal is a tool utilized in statistics and management science to observe forecasts and…
Q: A police station had to deploy a police officer for an emergency multiple times in the last four…
A: Moving Average Method: Moving average is an uncomplicated, technical examination method. Moving…
Q: Other questions: (1) What is the MAD for a = .37 (2) Which smoothing constant would you prefer?
A: Forecasting is one of the techniques to know some future figures on the basis of past data. This…
Q: = The demand manager of Maverick Jeans is responsible sufficient warehouse space for the finished…
A:
Q: Community General Hospital finds itself treating many bicycle accident victims. Data from the last…
A: To calculate the exponentially smoothed forecast using the given data and the alpha value of 0.31,…
Q: If the weights for a moving average forecast with a span of 4 are: 0.4,0.2,0.3,0.1…
A: The objective of the question is to identify potential problems with the given weights for a moving…
Q: The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest…
A: The 2-year Moving average (MA) forecast is calculated using the below formula: 2-year MA Forecast…
Q: With the multiplicative seasonal method of forecasting: the seasonal amplitude is a constant,…
A: Forecasting techniques are indispensable for predicting the future values of a time series using…
Q: Compute the exponentially smoothed forecast with a = 0.40, the adjusted exponentially smoothed…
A: Forecasting is predicting in advance the demand of the future. General formulas for exponential…
Q: Given: Year Demand 1 7 2 9 3 5 4 9 5…
A: Note: - As we can answer only up to three subparts, we will answer the first three(1, 2, and 3)…
Q: a. Forecast April through September using a three-month moving average. b. Use simple exponential…
A: Below is the solution:-
Q: Forecasting is a prediction rather than a reality
A: The term forecasting is a technique that uses the historical data as inputs to make the informed…
Q: If the initial forecast for month 1 was 650 units and the trend over that period was 0 units,…
A: Forecasting is one of the techniques to know some future figures on the basis of past data. This…
If the weights for a moving average forecast with a span of 4 are: 0.3,0.2,0.2,0.4
Problem: Under prediction |
||
Problem: Over prediction |
||
No problem |
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data: Year Attendance Four Years ago 10,000 Three Years ago 12,000 Two Years ago 18,000 Last Year 20,000 What is this year's forecast using exponential smoothing with alpha = 0.2, if last year's smoothed forecast was 15,000?The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand 7 9 6 10 12 7 12 12 9 9 8 Part 2 Using exponential smoothing with α = 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). Part 3 Provide the forecast from periods 2 through 12 using the naive approach (enter your responses as whole numbers).I would I do a problem like this? A time-series trend equation is 20.6 + 15.7x. What is your forecast for period 13?
- 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 66The number of cases of merlot wine sold by the Connor Owen winery in an eight-year period is as follows: CASES OF MERLOT WINE 276 362 YEAR 2005 2006 2007 2008 2009 2010 2011 2012 404 462 364 506 416 382 Using an exponential smoothing model with an alpha value of 0.30, estimate the smoothed value calculated as of the end of 2012. Use the average demand for 2005 through 2007 as your initial forecast for 2008, and then smooth the forecast forward to 2012. (Round your intermediate calculations and final answer to the nearest whole number.) Answer is complete but not entirely correct. Forecast for 2012 372Forecasting with Linear Regression The company VID-CO-19 has manufactured swim suits for men, women, and children for 10 years. The company is located in Boston, Massachusetts. Swim suits have always had a higher demand during the months of April, May, June, July, August, and September. The demand has always been lower during the months of October, November, December, January, February, and March. TETT The real demand, based on sales of year 20X1 is the following (it starts with December of the previous year): Period Bimester Demand Season Average December-January February-March 1 100 90 2 200 180 3 April-May June-July August-September 900 910 4 3,000 2,100 4,000 4,900 October-November 300 350 VID-CO-19 has hired you as an Operations Management expert to help them to forecast demand for year 20X2 using the Linear Regression Method. What is the TOTAL "seasonalized" or "deseasonalized' forecasted demand for Quito-Ecuador in year 20X2? (write your answer rounded to two decimals)
- The number of cases of merlot wine sold by the Connor Owen winery in an eight-year period is as follows: YEAR CASES OFMERLOT WINE 2005 321 2006 407 2007 449 2008 507 2009 409 2010 551 2011 461 2012 427 Using an exponential smoothing model with an alpha value of 0.30, estimate the smoothed value calculated as of the end of 2012. Use the average demand for 2005 through 2007 as your initial forecast for 2008, and then smooth the forecast forward to 2012.In a retail store, the actual sales of a particular product (in thousands of units) over the past few months are as follows: Month Sales 1 16 2 22 3 18 4 20 5 23 Using exponential smoothing method with α (smoothing constant) of 0.75 and the given forecast for month 1 equal to 10, what is the forecast for month 6?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 historical data, what is the simple three-period moving average forecast for period 6? Period Value 1 73 2 68 3 65 4 72 5 67Develop a forecast for the next month using a four-month moving average method. Use the Excel Functions SLOPE and INTERCEPT to write the linear regression prediction equation with Months as the independent variable and sales as the dependent variable. Use the prediction equation to estimate the number of sales in month 9.After using your forecasting model for six months, you decide to test it using a tracking signal. Here are the forecast and actual demands for the six-month period: PERIOD FORECAST ACTUAL May 450 500 June 500 550 July 550 400 August 600 500 September 650 675 October 700 600 Find the tracking signal of each month
![Understanding Business](https://www.bartleby.com/isbn_cover_images/9781259929434/9781259929434_smallCoverImage.gif)
![Management (14th Edition)](https://www.bartleby.com/isbn_cover_images/9780134527604/9780134527604_smallCoverImage.gif)
![Spreadsheet Modeling & Decision Analysis: A Pract…](https://www.bartleby.com/isbn_cover_images/9781305947412/9781305947412_smallCoverImage.gif)
![Management Information Systems: Managing The Digi…](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780135191798/9780135191798_smallCoverImage.jpg)
![Business Essentials (12th Edition) (What's New in…](https://www.bartleby.com/isbn_cover_images/9780134728391/9780134728391_smallCoverImage.gif)
![Fundamentals of Management (10th Edition)](https://www.bartleby.com/isbn_cover_images/9780134237473/9780134237473_smallCoverImage.gif)
![Understanding Business](https://www.bartleby.com/isbn_cover_images/9781259929434/9781259929434_smallCoverImage.gif)
![Management (14th Edition)](https://www.bartleby.com/isbn_cover_images/9780134527604/9780134527604_smallCoverImage.gif)
![Spreadsheet Modeling & Decision Analysis: A Pract…](https://www.bartleby.com/isbn_cover_images/9781305947412/9781305947412_smallCoverImage.gif)
![Management Information Systems: Managing The Digi…](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780135191798/9780135191798_smallCoverImage.jpg)
![Business Essentials (12th Edition) (What's New in…](https://www.bartleby.com/isbn_cover_images/9780134728391/9780134728391_smallCoverImage.gif)
![Fundamentals of Management (10th Edition)](https://www.bartleby.com/isbn_cover_images/9780134237473/9780134237473_smallCoverImage.gif)