The following is the actual sales for Manama Company for a particular good:tSales17531The company wants to determine how accurate their forecasting model, so they asked their modeling expert to build a trend model. He found the model toforecast sales can be expressed by the following model: Ft-5+241Calculate the amount of error occurred by applying the model is:Hint: Use MSE(Round your answer to 2 decimal places)1234182530

Answered: The following is the actual sales for…

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 owner of Leisure Boutique in a local mall is reviewing their forecasting model for errors. Month Actual Forecasted March 64 63 April 66 67 May 70 71 June 78 75 July 80 79 August 84 83 September 92 87 October 94 91 What is the cumulative forecast error? Group of answer choices a) -16 b) 16 c) 12 d) -12
Consider the following from an estate agent’s business nationally: Month Houses Sold Jan 380 Feb 360 Mar 390 Apr 400 May 390 June 380 July 394 Aug 454 Sep 460 Oct 460 Nov 430 Dec 370 Calculate the three point moving averages (quarters) and seasonal variation for the above data Define moving averages and how they’re useful in forecasting (use Harvard referencing) At races, your horse, White Rum, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of ¼ in coming 3rd. First place pays $5,000 to the winner, second place $4,000 and third place $1,350. Hence, is it worth entering the race if it costs $1050? Your company plans to invest in a particular project. There is a 40% chance you will lose $3,000, a 45% chance you will break even, and a 15% chance you will make $5,500.…
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The monthly sales for Yazici Batteries, Inc., were as follows: Month Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Sales 21 20 15 12 15 16 15 17 19 21 20 24 Using a method of trend projection, the forecast for the next month (Jan) = ______ sales (round your response to two decimal places).
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:
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:
Show the steps on excel to plot the graph and insert the equation on the graph
The following data are for calculator sales in units at an electronics store over the past nine weeks: Week Sales Week Sales 1 45 53 2 50 7 59 3 44 8. 59 4 51 9 64 5 57 Use trend projection with regression to forecast sales for weeks 10 - 13. What are the error measures (CFE, MSE, o, MAD, and MAPE) for this forecasting procedure? How about ? Obtain the trend projection with regression forecast for weeks 10 – 13. (Enter your responses rounded to two decimal places.) Period Forecast, F, 10 64.81 11 67.06 12 69.31 13 71.56 Obtain the error measures. (Enter your responses rounded to two decimal places.) CFE MSE MAD МАРЕ
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Here are the data for the past 21 months for actual sales of a particular product: LAST YEAR THIS YEAR January 315 February 418 March 390 April 430 May 400 [ June 480 July 430 August 320 September 385 October 530 November 592 555 December 300 400 350 460 390 395 355 245 340 Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.50, the second most recent 0.25, and the third 0.25. Do the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.) Forecast for the fourth quarter
The following data are for calculator sales in units at an electronics store over the past nine weeks: Week 1 2 3 4 5 Obtain the error measures. (Enter your responses rounded to two decimal places.) CFE MSE Sales Find the coefficient of determination (²). The coefficient of determination r² = 0. (Enter your response rounded to two decimal places.) 44459 46 51 58 Use trend projection with regression to forecast sales for weeks 10-13. What are the error measures (CFE, MSE, 6, MAD, and MAPE) for this forecasting procedure? How about r²? Obtain the trend projection with regression forecast for weeks 10-13. (Enter your responses rounded to two decimal places.) Forecast, Ft Period 10 11 12 13 Week 6 69809 7 Sales 54 63 53 61 MAD U MAPE %
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