The following table contains the number of complaints received in a department store for the first 6 months of operation:Note: Round final answer to a whole number.MONTHJanuaryFebruaryCOMPLAINTS38498696116146If a three-month moving average is used to smooth this series, what would have been the forecast for May?MarchAprilMayJuneForecast for May

A moving average forecast method helps in determination of forecast values by calculating the…

Answered: The following table contains the number…

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 table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 360 389 412 378 366 371 a) The forecasted demand for the week of October 12 using a 3-week moving average: to two decimal places). = pints (round your response
Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten years of tourist visits to the area. The following data has been gathered on number of tourists who signed into the local information center. Year Number of tourists 1 700 2 248 3 633 4 458 5 1410 6 1588 7 1629 8 1301 9 1455 10 1989 What is the forecasts for Year 11 using the simple moving method? (show in calculations in excel file)
Below is the number of complaints received in a department store for the first six months of operation: Month Complaints January February March April May June 37 48 84 96 114 148 If a three-month moving average is used to smooth this series, what would have been the forecast for July, rounded to the nearest whole number?
The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 Pints Used 350 370 410 381 371 378 a) The forecasted demand for the week of October 12 using a 3-week moving average = 376.67 pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.20, 0.35, and 0.45, using 0.45 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.)
Define the MONITORING FORECAST ERROR?
The following table gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round your response to two decimal places) b) Using a 3-week weighted moving average, with weights of 0.10, 0.30, and 0.60, using 0.60 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.) c) If the forecasted demand for the week of August 31 is 360 and α = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). Week Of August 31 September 7 September 14 September…
a. What is the mean square error for time periods 2 through 4 using the average forecasting method? b. What is the mean absolute error for time periods 2 through 4 using the average forecasting method? c. What is the mean absolute percentage error for time period 2 through 4 using the average forecasting method? Round all answers to two decimal places. Time Period 1 2 3 4 Mean absolute error (MAE) Mean squared error (MSE) Mean absolute percentage error (MAPE) Electric Bill 510 315 420 480 Average Forecast Forecast Error
The following table gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks: Week Of August 31 September 7 September 14 September 21 September 28 October 5 - a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.10, 0.30, and 0.60, using 0.60 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.) Week Of c) If the forecasted demand for the week of August 31 is 360 and a = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). August 31 September 7 September 14…
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
The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: August 31 September 7 September 14 Week Of September 21 September 28 October 5 Week Of a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round your response to two decimal places). pints (round your b) Using a 3-week weighted moving average, with weights of 0.10, 0.35, and 0.55, using 0.55 for the most recent week, the forecasted demand for the week of October 12 = response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.) c) If the forecasted demand for the week of August 31 is 350 and x = 0.25, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your responses to two decimal places). August 31 September 7 September 14…
1. (EOQ)The Wallace Stationary Company purchases paper from the Seaboard Paper Company. Wallace produces stationary that require 1,415,000 sq. yards of stationary per year. The cost per order for the company is $2,200; the cost of holding 1 yard of paper in inventory is $0.08 per year. Determine the following: a. Economic order quantity (please show your work) B. Minimum total annual cost c. Optimal number of orders per year d. Optimal time between orders
1. The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks: Part 2 Week Of Pints Used August 31 350 September 7 372 September 14 412 September 21 381 September 28 366 October 5 378 Part 3 a) The forecasted demand for the week of October 12 using a 3-week moving average LOADING... = _____________pints (round your response to two decimal places).

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