Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows. Week 1 2 3 4 5 6 Value 19 14 17 12 18 15 a) Develop the three-week moving average for this time series. (Round your answers to two decimal places.) Week Time Series Value Forecast 1 19 2 14 3 17 4 12 5 18 6 15 What is Compute MSE? (Round your answer to two decimal places.) MSE = ? What is the forecast for week 7?
Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows. Week 1 2 3 4 5 6 Value 19 14 17 12 18 15 a) Develop the three-week moving average for this time series. (Round your answers to two decimal places.) Week Time Series Value Forecast 1 19 2 14 3 17 4 12 5 18 6 15 What is Compute MSE? (Round your answer to two decimal places.) MSE = ? What is the forecast for week 7?
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...
Related questions
Question
Please help with the correct answers in details:
Centerville Bikes and Stuff (CBS) sells motorcycles and accessories. The number of helmets sold by CBS per week for the past six weeks follows.
| Week | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| Value | 19 | 14 | 17 | 12 | 18 | 15 |
a) Develop the three-week moving average for this time series. (Round your answers to two decimal places.)
| Week | Time Series Value |
|
|---|---|---|
| 1 | 19 | |
| 2 | 14 | |
| 3 | 17 | |
| 4 | 12 | |
| 5 | 18 | |
| 6 | 15 |
What is Compute MSE? (Round your answer to two decimal places.)
MSE = ?
What is the forecast for week 7?
b) Use ? = 0.2 to compute the exponential smoothing values for the time series.
| Week | Time Series Value |
Forecast |
|---|---|---|
| 1 | 19 | |
| 2 | 14 | |
| 3 | 17 | |
| 4 | 12 | |
| 5 | 18 | |
| 6 | 15 |
What is Compute MSE. (Round your answer to two decimal places.)
MSE = ?
What is the forecast for week 7? (Round your answer to two decimal places.)
c) Use ? = 0.4 to compute the exponential smoothing values for the time series.
| Week | Time Series Value |
Forecast |
|---|---|---|
| 1 | 19 | |
| 2 | 14 | |
| 3 | 17 | |
| 4 | 12 | |
| 5 | 18 | |
| 6 | 15 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
Answers to the following were incorrect: Please revise and answer with corrected answers as this is the only chance I have:
MSE with moving average = 146.94 incorrect
MSE with exponential smoothing with alpha = 0.2 = 10.86 incorrect
Solution
by Bartleby ExpertFollow-up Question
MSE answer for part a = 5.95 is incorrect. Please do recalculations with the correct answer. also the rest of the question was not answered so here it is:
Use ? = 0.2 to compute the exponential smoothing values for the time series.
| Week | Time Series Value |
|
|---|---|---|
| 1 | 19 | |
| 2 | 14 | |
| 3 | 17 | |
| 4 | 12 | |
| 5 | 18 | |
| 6 | 15 |
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for week 7? (Round your answer to two decimal places.)
Use ? = 0.4 to compute the exponential smoothing values for the time series.
| Week | Time Series Value |
Forecast |
|---|---|---|
| 1 | 19 | |
| 2 | 14 | |
| 3 | 17 | |
| 4 | 12 | |
| 5 | 18 | |
| 6 | 15 |
Solution
by Bartleby ExpertKnowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.