The following table shows the actual demand observed over the last 11 years:Year1Demand 82935This exercise contains only parts b, c, and d.b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place).YearForecast45410651376787119814109811101312118

Planning and inventory are used in management and production using forecasting to determine how many…

Answered: The following table shows the actual…

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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Sales of tablet computers at Ted Glickman's electronicsstore in Washington, D.C., over the past 10 weeks are shownin the ta ble below: a) Forecast demand for each week, including week 10, usingexponential smoothing with a = .5 (in itial forecast = 20).b) Compute the MAD.c) Compute the tracking signal.
The demand for a product of a company in each of the last twelve months is shown in the table below; Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Demand 37 40 41 37 45 50 43 47 56 52 55 54 Use the table to compute the following forecast demand for the company; a. Four months simple moving average b. Four months weighted moving average using the weight of 40%, 30% and 20% and 10%respectively.
Using the photo attached, answer the following questions. 1. using the manual trend projection method of forecasting, show how Mr John can forecast demand for tyres for the next two years. SHOW ALL WORKING NO EXCEL SHEETS NO HAND WRITTEN ANSWERS, TYPE IT!
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table: YEAR DEMAND FOR FERTILIZER (1,000S OF BAGS) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15 a) Develop a 3-year moving average to forecast demand?
Given: Year Demand 1 7 2 9 3 5 4 9 5 Predict the value for Year 5: 2 year moving average What is MSE for 2 year moving average? 2 year moving average using 0.6 (weight for the oldest period) and 0.4(weight for most recent period Exponential smoothing, =0.2 and forecast for Year 1 = 5 Linear trend Which forecast method has the least amount of error using MAD? What is the coefficient?
6. Consider the following data table. (12 Points) a) Forecast demand using exponential smoothing with an apha of 0.25, and an initial forecast of 128.0 for period 1. b) Calculate the MAD and MSE. Period Real demand 130 138 129 140 3 4 5 133
UltraPure used two different techniques (F1 and F2) to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are in the table below. PREDICTED DEMAND Period Demand F1 F2 1 68 67 60 2 75 67 67 3 70 71 70 4 74 69 72 5 69 71 77 6 72 70 77 7 80 72 75 8 78 75 83 a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.)
A plumbing repair company has 3 employees and must choose which of 3 jobs to assign each to (each employee is assigned to exactly one job and each job must have someone assigned). Each employee can perform each job, but the cost to perform any given job can vary. The following table shows the cost for each employee to perform each job. Employee A Employee B Employee C Job 1 48 45 44 Job 2 43 35 45 Job 3 51 51 50 Solve this assignment problem in Excel to find the lowest cost solution and answer the following questions: Which employee is assigned to job 1? (Click to select) Employee A Employee B Employee C Which employee is assigned to job 2? (Click to select) Employee A Employee B Employee C Which employee is assigned to job 3? (Click to select) Employee A Employee B Employee C What is the minimum cost to complete all three jobs?
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.
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 -- —— ——

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