The following tabulations are actual sales of units for six months and a starting forecast in January.ACTUAL124FORECAST10412013310986105JanuaryFebruaryMarchAprilMayJunea. Calculate forecasts for the remaining five months using simple exponential smoothing with a = 0.3.Note: Round your answers to the nearest whole number.FebruaryMarchAprilMayJuneSavedForecastsb. Calculate the MAD for all the forecasts, including January's.Note: Round your answer to 1 decimal place.MAD

Simple exponential smoothing is a forecasting method that uses weighted averages of past data to…

Answered: The following tabulations are 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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A. Find the tracking signal for each month. B. Does the model provide acceptable answers!
Marianne Kramer, the owner of Handy Man Rentals, rents carpet cleaners to contractors and walk-in customers. She is interested in arriving at a forecast of rentals so that she can order the correct quantities of supplies that go with the cleaners. Data for the last 10 weeks are shown here.Week Rentals Week Rentals1 15 6 202 16 7 243 24 8 274 18 9 185 23 10 16a. Prepare a forecast for weeks 6 through 10 by using a 4-week moving average. What is the forecast for week 11?b. Calculate the mean absolute deviation as of the end of week 10.
If we use a simple exponential smoothing method with ??=0.3, ??11=100 and ??12=120, what is your forecast for next year? A. 120 B. 126 C. 128 D. None of the above 10. Which one is NOT part of the reasons to keep inventory? A. To allow flexibility in production scheduling B. To meet variation in product demand C. To maintain dependence of operations D. To provide a safeguard for variation in raw material delivery time
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
Assume that the data in columns A and B report the new constructions of residential homes, per month, in thousands, from 2015 to 2020 in the state of Oregon. a) Chart the data. Discuss any apparent trend and seasonal patterns. b) Use the "Tahoe Salt" method with linear trend to forecast new constructions for the 12 months of 2021. c) Add your model values and forecast to the data chart. d) Compute the MAD of your model. e) Compute and plot the tracking signal in a new chart. f) Discuss the quality of this model. What is the flagrant flaw? g) Suggest an approach that would yield better results in terms of forecast values, MAD, and tracking signal. An appropriate narrative argument is sufficient (i.e., one or two sentences). You do not need to do calculations for this part.
Sales for the past 6 months at Dalworth Company are given in the following table: O Month July August September October What is the Mean Absolute Deviation (MAD) for August through December forecasts produced by using exponential smoothing with a = 0.9? (Note: Do not round the forecasts, and choose the closest answer.) Multiple Choice O November December O 15.28 9.04 8.75 Sales 52 61 53 35 31 28 31.59
A forecast for the first six months of the year revealed a tendency to underpredict the actual demand for the revitalized Hubig’s Pies plant in the Marigny. Month Actual Forecast January 675 600 February 720 700 March 640 620 April 510 495 May 480 410 June 565 535 What is the mean squared error of this forecast? a. 1,694 b. 1,873 c. 2,075 d. 1,469
Help Saved Mary, Susan, and Sarah are running a beach boutique on the board walk of Ocean City. Their favorite product is a red lifeguard hoody. Mary believes it will sell 318 times next season. Susan forecasts sales of 518, and Sarah forecasts 199. What would be the result of a simple forecast combination? (Round to two decimal places)
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1. Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. They are conducting an inventory control study of all their items. The following data for the year 2006 are for one such item, which is not seasonal. [10 Points] Month Sales Jan Feb 18 19 Mar Apr May Jun 17 21 20 19 Jul 20 Aug 23 a. Use trend projection to estimate the relationship between time and sales (state the trend line equation in this problem). b. Calculate forecasts for February 2007, April 2007, and February 2008
discuss the strategic importance of forecasting for Disney and demonstrate how Disney World systematically uses the first seven steps in the forecasting process to initiate, design and implement forecasting systems
The most naive forecast can is quite valuable in leading to an organization’s success because it is most widely understood by senior managers. True or False

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