Q4ABC University wants to develop forecasts for next year's quarterly enrollment. It has collectedquarterly enrollments for the past two years. It has also forecast total annual enrollment for nextyear to be 95,000 students. What is the forecast for each quarter of next year?Enrollment (in 000')QuarterYear 1Year 2Fall2425Winter2322Spring1819Summer1517

Answered: Q4 ABC University wants to develop…

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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The following data shows sales forecast of Axis Dealer for motorbikes. Month Demand 1 650 700 3 810 4 800 5 900 6. 700 7 i. What are the 3-months moving average forecasts for months 4, 5, 6 & 7? ii. What are the 3-month Wt. Moving Average (weights: 0.2, 0.3, 0.5) for months 4, 5, 6 & 7? iii. Calculate an exponential smoothing forecast for the given data with an alpha of 0.1 for months 2, 3, 4, 5, 6 & 7. Assume a forecast of 650 for month 1. Show the formula and working method.
Problem 3-22 (Algo) Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows:
Forecasting is critical in modern times. Business organizations manifested more concern with anticipating the future, and as a consequence, a number of highly successful consulting firms emerged to provide forecasting help for governments and businesses. You are required: iii. Identify the different levels that forecasting of business trends takes place. iv. Give 3 examples where long-range forecasting can be used v. Do you think forecasting is always correct and accurate? Discuss this assertion in detail
Assume that your stock of sales merchandise is maintained based on the forecast demand. If the distributor's sales personnel call on the first day of each month, compute your forecast sales by each of the three methods requested here. June July August ACTUAL 144 184 210 a. Using a simple three-month moving average, what is the forecast for September? Note: Round your answer to 2 decimal places. Forecast for September b. Using a weighted moving average, what is the forecast for September with weights of 0.30, 0.40, and 0.30 for June, July, and August, respectively? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Forecast for September
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 -- —— ——
Weekly income for Quiet Mental Breakdown, an online psychology firm, is provided below. Determine, on the basis of minimizing the mean square error, whether a three-period or four-period simple moving average gives a better forecast. Week Income 1 980 2 1040 3 1120 4 1050 5 960 6 990 7 1030 8 1260 9 1240 10 1100 Group of answer choices Both the four-period & three-period simple moving averages have the same forecast accuracy in terms of their MSE There is not enough information to determine the answer The four-period simple moving averages gives a better forecast because it has the smallest MSE The three-period simple moving average gives a better forecast because it has the smallest MSE
2. Suppose that the University of the West had the following data of its growth of enrollment from 2016-2014. Year Enrollment 2006 3000 2007 3200 2008 3600 2009 3650 2010 4000 2011 4200 2012 4300 2013 4410 2014 4520 a. Forecast the 2015 enrollment using three-year weighted moving average forecast. b. Using smooth a = 0.30, forecast the 2015 enrollment. c. Using MAD, solve for the forecasting error at a = 0.10 d. Use four-year weighted moving average from 2006-2015
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
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
2
Historical sales data is shown below. Week Actual Forecast 1 328 300 2 272 3 245 4 223 5 205 6 Using alpha (α) = 0.2, what is the exponential smoothing forecast for period 6? Note: Round your answer to 2 decimal places. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Y9

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