Assume today's date is 12/31/2023. Actual sales and forecast for 2023 are givenbelow.Actual Forecast202372.466.959.561.226020236967Q361Q459Total256Obtain the MADQ1Q27.21.8-1

MAD (Mean Absolute Deviation) is the average value of absolute forecasting error values. Here, the…

Answered: Q1 Actual Forecast 2023 2023 69 72.4 67…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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8. Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 100 110 120 130 Actual 95 108 123 130 Part 2 a) MAD= __________ (round your response to one decimal place).
Given the following original forecast and actual data: Month Actual Forecast Jan 600 Feb 475 Mar 550 Apr 575 May 643 Jun 662 Jul ??? ??? Using a 2 month weighted moving average with weights of 75% for the previous month and 25% for two months back, what is the forecast for July. Round your answer to 1 decimal place. 400 -- —— ——
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Given the following original forecast and actual data: Month Actual Forecast Jan 600 Feb 475 Mar 550 Apr 575 May 643 Jun 662 Jul ??? ??? Using a 2 month weighted moving average with weights of 75% for the previous month and 25% for two months back, what is the forecast for July. Round your answer to 1 decimal place. 400 -- —— ——
IMTAC a market leader in the production of heavy lathe machinery. The sales over the past 10 months are shown below. Month Actual Sales (units) (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 78 65 90 71 80 91 84 60 75 80 (i) Forecast demand for the month 11 using a weight of 0.5 for the most recent data, 0.3 for the next and 0.2 for the oldest. (ii) If an actual sale during the month 11 is 60, forecast demand for the month of l12 using exponential smoothing method.
Apple Corporation is planning to produce their new product called the next generation low cost iPhone the said product will compete the product lines of Samsung, the management is hoping that it will further increase their revenue starting 2nd Quarter of 2018. Below is the historical data of actual sales and forecast of iPhone last 2017: Forecast Sales in Million Actual sales in Million Month Units Units Jan 51 55.3 Feb 52 54.1 Mar 53 62.3 Аpr 55 61.1 Мay 57 58.6 June 60 59.2 July 62 67.3 Aug 65 70.2 Sep 68 75.1 Oct 69 79.2 Nov 70 80.1 Dec 75 81.2 Solve the following questions: According to operations manager the bottleneck process is tester with weekly capacity of 120,500 units and it has machine inventory of 85 testers, how many additional testers are needed to support the startup of the new product? Per feedback from accounting department the fixed cost for investing the new product is 4,500,000andvariablecostof0.75 per unit and selling price of $5 per unit, how much quantity is…
45 A forecasting method has produced the following over the past five months. What is the mean absolute deviation? Actual Forecast Error |Error| 10 11 -1 1 8 10 -2 2 10 8 2 2 6 6 0 0 9 8 1 1 Select one: a. -0.2 b. 1.2 c. 8.6 d. -1.0 e. 0.0
a. Using POM for Windows' least squares-linear regression module, develop a relationship to forecast production ratings from test scores. (Round your responses to three decis and include a minus sign if necessary.) Y= - 23 + .945 x where Y = Production rating and X = Test score. b. If a worker's test score was 54, what would be your forecast of the worker's production rating? 51. (Enter your response as an integer.) c. Comment on the strength of the relationship between the test scores and production ratings. The coefficient of correlation for the least-squares regression model is and the coefficient of determination is (Enter your responses rounded to three decimal places.) More info Test Score Production Rating Production Test Worker Worker Rating Score A 55 43 K 58 57 B 38 43 75 75 93 87 67 48 D 86 77 31 26 E 88 82 62 49 F 66 68 24 25 G 55 47 Q 78 84 Clear all Check 50 46 34 32 41 41 51 58 J 69 74 T 39 30 Print Done LLMN OPoRS
19. The semi-averages of the below given data are: Year Rainfall 1999 21 2000 11 2001 14 2002 16 2003 18 a. 16 and 12.5 b. 16 and 24 c. 16 and 17 d. 16 and 15
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Q1 Actual Forecast 2023 2023 69 72.4 67 66.9 61 59.5 59 61.2 256 260 Q2 Q3 Q4 Total Obtain the MAD -4 7.2 1.8 -1