Homework Help is Here – Start Your Trial Now!
Business
Operations Management
The management of an insurance company monitors the number of mistakes made by telephone service representatives for a company they have subcontracted with. The number of mistakes for the past several months appears in this table along with forecasts for errors made with three different forecasting techniques. The column labeled Exponential was created using exponential smoothing with an alpha of 0.30. The column labeled MA is forecast using a moving average of three periods. The column labeled WMA uses a 3-month weighted moving average with weights of 0.65, 0.25, and 0.10 for the most-to-least recent months. Month Mistakes Exponential MA WMA 1 55 ​ ​ ​ 2 61 ​ ​ ​ 3 71 ​ ​ ​ 4 77 71 62 67 5 88 73 70 74 6 100 77 79 84 7 109 84 88 95 8 122 92 99 105 9 126 101 110 117 10 126 108 119 123 Using above table, what is the MSE for months 6-10 for the exponential smoothing technique?

The management of an insurance company monitors the number of mistakes made by telephone service representatives for a company they have subcontracted with. The number of mistakes for the past several months appears in this table along with forecasts for errors made with three different forecasting techniques. The column labeled Exponential was created using exponential smoothing with an alpha of 0.30. The column labeled MA is forecast using a moving average of three periods. The column labeled WMA uses a 3-month weighted moving average with weights of 0.65, 0.25, and 0.10 for the most-to-least recent months. Month Mistakes Exponential MA WMA 1 55 ​ ​ ​ 2 61 ​ ​ ​ 3 71 ​ ​ ​ 4 77 71 62 67 5 88 73 70 74 6 100 77 79 84 7 109 84 88 95 8 122 92 99 105 9 126 101 110 117 10 126 108 119 123 Using above table, what is the MSE for months 6-10 for the exponential smoothing technique?

Practical Management Science
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...
See similar textbooks
icon
Related questions
Question

The management of an insurance company monitors the number of mistakes made by telephone service representatives for a company they have subcontracted with. The number of mistakes for the past several months appears in this table along with forecasts for errors made with three different forecasting techniques. The column labeled Exponential was created using exponential smoothing with an alpha of 0.30. The column labeled MA is forecast using a moving average of three periods. The column labeled WMA uses a 3-month weighted moving average with weights of 0.65, 0.25, and 0.10 for the most-to-least recent months.

Month Mistakes Exponential MA WMA
1 55 ​ ​ ​
2 61 ​ ​ ​
3 71 ​ ​ ​
4 77 71 62 67
5 88 73 70 74
6 100 77 79 84
7 109 84 88 95
8 122 92 99 105
9 126 101 110 117
10 126 108 119 123

Using above table, what is the MSE for months 6-10 for the exponential smoothing technique?

a.

less than 591
b.

greater than or equal to 591 but less than 595
c.

greater than or equal to 595 but less than 599
d.

greater than 599

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

Is it A,B,C, or D????

Solution
Bartleby Expert
SEE SOLUTION
Knowledge Booster
Forecasting
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
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…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS