Answered: The manager of the Petroco Service…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

a. In the Petroco Service Station problem, compute an exponentially smoothed forecast with an α value of .30. According to the result from Excel and/or POM-QM, the forecast for the month of August

b.In the Petroco Service Station problem, for the exponentially smoothed forecast with an α value of .30, compute the mean absolute deviation (MAD) via Excel and/or POM-QM

c. In the Petroco Service Station problem, compute an exponentially smoothed forecast with an α value of .50. According to the result from Excel and/or POM-QM, the forecast for the month of January would be

d.In the Petroco Service Station problem, compute an exponentially smoothed forecast with an α value of .50. According to the result from Excel and/or POM-QM, the forecast for the month of August

The manager of the Petroco Service Station wants to forecast the demand for unleaded
gasoline next month so that the proper number of gallons can be ordered from the
distributor. The owner has accumulated the following data on demand for unleaded
gasoline from sales during the past 10 months. Compute an exponentially smoothed
forecast with an a value of .30. According to the result from Excel and/or POM-QM, the
forecast for the month of January would be (type number only, two decimals)
Month
October
November
December
January
February
March
April
May
June
July
Gasoline Demanded (gal.)
800
725
630
500
645
690
730
810
1,200
980

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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