Passenger miles flown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for the past 12weeks:Week1246.78101112Actual Passenger Miles (in thousands)172119231917211923211324a) Assuming an initial forecast for week 1 of 17,000 miles, use exponential smoothing to compute miles for weeks 2through 12. Use a = 0.25 (round your responses to two decimal places).Week12346.78.1011 12Forecasted Passenger Miles(in thousands)17.00 17.00 18.00 18.25 19.44 19.33 18.75 19.31 19.23 20.17b) The MAD for this model =thousand (round your response to two decimal places).c) Compute the Cumulative Forecast Errors, cumulative MAD in thousands, and tracking signals (round yourresponses to two decimal places).CumulativeCumulativeTrackingSignalForecastTrackingSignalForecastWeekErrorsMADWeekErrorsMAD10.000.009.232.114.3724.002.002.008.8.921.894.7335.001.673.009.12.692.096.069.752.444.001013.521.976.879.312.044.571166.982.093.3512Are the tracking signals within acceptable limits?The control limits for the tracking signal are set at ±3MADS. The tracking signalsacceptable limits.

Answered: Passenger miles flown on Northeast…

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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A police station had to deploy a police officer for an emergency multiple times in the last four evenings. The table below shows the number of emergencies each evening. (Round your answers to 3 decimal places.). Forecast for Weekday Number of calls each day tomorrow (calls) 6. Monday Tuesday Wednesday 6. 6. 8 Thursday 12 Complete the "Forecast for tomorrow" column in the table above. Use an exponential a. smoothing forecasting approach, with a=0.3 and a forecast for Monday of 9. (Round your answer to 3 decimal places.) What would be their forecast for Friday using the same b. exponential smoothing forecasting approach?
Using naïve method to make a forecast involving data with trend, the forecasted sales volume for week 4 must be ________ units if the actual sales are 500, 510, and 508 in weeks 1, 2, & 3, respectively: * o 506 o 508 o 510 o 500
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Please forecast the mileage (in 100) for 2013 using a 4 period moving average method. Please keep 1 decimal place.
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
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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)
The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows Year Mileage 1 3,100 2 4,000 3 3,450 4 3,850 5 3,750 a) Using a 2-year moving average, the forecast for year 6 = 3800 miles (round your response to the nearest whole number). b) If a 2-year moving average is used to make the forecast, the MAD based on this = 108.3 miles (round your response to one decimal place). (Hint. You will have only 3 years of matched data.) c) The forecast for year 6 using a weighted 2-year moving average with weights of 0.40 and 0.60 (the weight of 0.60 is for the most recent period) = miles (round your response to the nearest whole number)
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Since the beginning of the year, the purchase manager at a department store has been recording sales data to be used to compute 4-period moving averages to forecast sales for an upcoming month. Sales data for the months of January through September are reported in the table below. Month January February March April May June July August September Sales 21 20 39 22 29 14 42 28 27 Computed forecast values are not rounded. Compute the four-period moving average forecast for October. value as a whole number by rounding. Specify the Compute the mean absolute deviation (MAD) for the four-period moving average forecasts. Specify the MAD as a whole number by rounding. Compute the mean squared error (MSE) for the four-period moving average forecasts. Specify the MSE as a whole number by rounding. Compute the mean absolute percentage error (MAPE) for the four-period moving average forecasts. Specify the MAPE as a whole number by rounding. CHECK ANSWER

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