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Plot the demand data. What do you observe? Forecast XR-42S demand for month 7, using a weighted moving average. The weights are 0.5, 0.3, and 0.2, where 0.5 refers to the most recent demand. а. b. С. Repeat part b using a three period moving average.

Plot the demand data. What do you observe? Forecast XR-42S demand for month 7, using a weighted moving average. The weights are 0.5, 0.3, and 0.2, where 0.5 refers to the most recent demand. а. b. С. Repeat part b using a three period moving average.

Practical Management Science
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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Plot the demand data. What do you observe? Forecast XR-42S demand for month 7, using a weighted moving average. The weights are 0.5, 0.3, and 0.2, where 0.5 refers to the most recent demand. а. b. Repeat part b using a three period moving average. Repeat part b, using exponential smoothing with a = 0.2. Assume the forecast for period 2 was 15. Develop a linear trend forecast for period 7. Based on MAD criterion, which of the following models you prefer: i. Linear trend developed in part e. ii. Naïve model. С. d. е. f.
Transcribed Image Text:Plot the demand data. What do you observe? Forecast XR-42S demand for month 7, using a weighted moving average. The weights are 0.5, 0.3, and 0.2, where 0.5 refers to the most recent demand. а. b. Repeat part b using a three period moving average. Repeat part b, using exponential smoothing with a = 0.2. Assume the forecast for period 2 was 15. Develop a linear trend forecast for period 7. Based on MAD criterion, which of the following models you prefer: i. Linear trend developed in part e. ii. Naïve model. С. d. е. f.
The K&R Camera shop sells all the latest cameras and accessories. To meet customer demand, the manager must forecast demand for items she sells. Lately the XR-42S zoom lens has been very popular. Recent monthly demand for this item has been as shown: Number of Lenses Month Sold 1 12 17 2 3 4 15 20 18 23 6.
Transcribed Image Text:The K&R Camera shop sells all the latest cameras and accessories. To meet customer demand, the manager must forecast demand for items she sells. Lately the XR-42S zoom lens has been very popular. Recent monthly demand for this item has been as shown: Number of Lenses Month Sold 1 12 17 2 3 4 15 20 18 23 6.
Expert Solution
Step 1

Given data -

Month  Number of lenses sold
1 12
2 17
3 15
4 20
5 18
6 23

 

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