Sales of tablet computers at Marika Gonzalez's electronics store in Washington, D.C., over the past 10 weeks areshown in the table below:Week231Demand 19 23 2943656789 1026 28 35 24 24 30a) The forecast for weeks 2 through 10 using exponential smoothing with a = 0.60 and a week 1 initial forecast of19.0 are (round your responses to two decimal places):Week1 2 3 4Demand 19 23 29 36Forecast 19.05 6 726 28 358 9 1024 3024b) For the forecast developed using exponential smoothing (a=0.60 and initial forecast 19.0), the MAD = sales(round your response to two decimal places).c) For the forecast developed using exponential smoothing (x=0.60 and initial forecast 19,0), the tracking signal =(round your response to two decimal places).

It is a forecasting tool and it is mainly useful for time series data that exhibits a trend or…

Answered: of tablet computers at Marika…

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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National Standard, Inc. sells radio frequency identification (RFID) tags. Monthly demand for a seven-month period is reported below: Sales (1000 units) Forecast Observation Month Yt Ft 1 February 19 2 March 18 3 April 15 4 May 20 5 June 18 6 July 22 7 August 20 8 September ? Use Excel to plot the data and forecast September sales using the following methods: The naïve forecast A three-month moving average Exponential smoothing with a smoothing coefficient of α = 0.2, assuming a February forecast of 19 A 3-month weighted moving average, with weights 0.60, 0.3, and 0.1. With 0.6 applied to the most recent past.
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 =
a) Apply moving average and exponential smoothing to generate two forecasts of the closing price for the entire data period. Set appropriate values for the forecast parameters (e.g., k and a). b) Plot and compare the actual and predicted data values you calculated in part (b). Provide one chart that displays actual, moving average, and exponential smoothing lines. Hint: Calculate MSE, MAD, or MAPE to compare the different forecasts. Develop your own forecast from scratch. Do NOT use Excel’s Data Analysis or Forecast Sheets.
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.
Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten years of tourist visits to the area. The following data has been gathered on number of tourists who signed into the local information center. Year Number of tourists 1 700 2 248 3 633 4 458 5 1410 6 1588 7 1629 8 1301 9 1455 10 1989 What is the forecasts for Year 11 using the simple moving method? (show in calculations in excel file)
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)
Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: Year Year Forecast (000) 1 2 4.00 7.00 1 5.00 3 5.00 Registrations (000) a) Calculate the forecasted registrations for years 2 through 12 using exponential smoothing, with a smoothing constant (a) of 0.40 and a starting forecast of 5.00 for year 1 (round your responses to one decimal place): 2 3 4.6 5.56 4 4.00 4 5.34 11 9 10 7 8 6 5 9.00 9.00 6.00 10.00 13.00 14.00 12.00 5 4.80 6 7 6.48 7.49 8 6.89 9 8.14 10 10.08 11 11.64 12 11.79 b) Mean absolute deviation based on the forecast developed using the exponential smoothing method (with a smoothing constant (a) = 0.40 and a starting forecast of F₁ = 5.00) is response to one decimal place). registrations (round your
A police station had to deploy a police officer for an emergency multiple times in the last four evenings. The t below shows the number of emergencies each evening. Weekday Number of calls each day Monday 10 Tuesday 2 Wednesday 12 Thursday 12 (Round your answer to 1 decimal place.) What would be their forecast for the emergencies on Friday using a two-day moving average approach? Forecast for Friday calls
A security company had to deploy guards for emergencies multiple times in the last four evenings. The numbers of emergencies for Monday, Tuesday, Wednesday, and Thursday were 7, 4, 8, and 11, respectively. What would be the security company's forecast for the number of emergencies on Friday using an exponential smoothing forecasting approach? (Use \alpha= 0.2 and a forecast for Monday of 10 emergencies)
Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two forecasting methods to see which method was better over this period. MONTH ACTUAL January 120 February 145 March 146 April 171 May 154 June 182 July 138 August 135 September 146 a. Forecast April through September using a three-month moving average. b. Use simple exponential smoothing with an alpha of 0.20 to estimate April through September, using the average of January through March as the initial forecast for April. c-1. Calculate MAD for Three-month moving average and Exponential smoothing. c-2. Use MAD to decide which method produced the better forecast over the six-month period.
Give typed explanation Part 2: Using exponential smoothing, the forecasted demand for period 5 using the smoothing constant determined in image= ?
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?

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