Tucson Machinery, Inc., manufactures numerically controlled machines, which sell for an average price of $0.5 million each. Sales forthese NCMS for the past two years were as follows: Use Exhibit 18.10.LAST YEARQUANTITYQUARTER (UNITS)THIS YEARQUANTITYQUARTER (UNITS)1515IIIII21II27312919IIIIVIV15a. Find the equation of a simple linear regression line using Excel. (Round your answers to 3 decimal places.) b. Compute trend and seasonal factor from a linear regression line obtained with Excel. (Do not round intermediate calculations.Round your answers to 3 decimal places.)PeriodTrend Forecast Seasonal FactorsLast YearIVThis Year%3DIVc. Forecast sales for next year using the above seasonal factors. (Do not round intermediate calculations. Round your answers to 2decimal places.)PeriodForecast (Units)Next Year%3DIV

A regression model that uses a straight line to evaluate the connection between one independent…

Answered: Tucson Machinery, Inc., manufactures…

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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For the following data, calculate 'MAPE' Month Forecast Actual 1 1100 950 1100 1050 6. 3 1100 1100 4 1100 1200 5 1100 1090 б 1100 1070
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold $2.70 $3.60 $2.00 $4.10 $3.20 760 505 990 245 315 $4.00 475 Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place).
Sales of the Crown Gems have been increasing over the past five years. The operations manager has estimated sales in 2017 to be 410 Crown Gems. Using exponential smoothing with a weight of α = 0.30, the forecasts for 2017 through 2022 were developed. The forecasts for 2017 through 2022 is: Year Forecast 2016 450 2017 450 2018 463.5 2019 479.85 2021 504.795 2022 528.5565 a. Advise Crown Gems of the benefits associated with this method of forecasting. b.Caution the manager on the limitations associated with your forecast.
A newly operated company producing household items would want to forecast its sales volume for the next month. It has been in operation for ten (10) months now. For the past ten (10) months, forecast and sales data for its top selling Item A are as follow: Time Period Forecasted Value Actual Sales (Quantity) 10th month 405 345 9th month 400 380 8th month 410 400 7th month 370 375 6th month 330 360 5th month 320 325 4th month 320 315 3rd month 305 300 2nd month 290 295 1st month 300 280 The operations manager observes the fluctuations on the sales quantity over the 10-month period that the company is in operation. To forecast for the 11th month, the team decided to evaluate options on what forecasting method to use. Their options are: To use the Moving Average Method using the sales data for the past 10 months, To use the Exponential Smoothing Average assigning a smoothing constant of .6 and To use the Trend-adjusted Exponential Smoothing assigning smoothing constants α =…
Based on the information in the following table, use the Exponential Smoothing Approach (a = 0.3) to forecast the demand for periods 4-13 %3D PERIOD MONTH Demand Forecast 1 Jan 222 Feb 192 222 3 Mar 212 213 Apr 202 May 220 Jun 200 7 Jul 113 Aug 175 6. Sep 277 10 Oct 211 11 Nov 249 12 Dec 144 13 Jan 6o 00
Please do not give solution in image formate thanku. Bradley's Copiers sells and repairs photocopy machines. The manager needs weekly forecasts of service calls so that he can schedule service personnel. Use the actual demand in the first period for the forecast for the first week so error measurement begins in the second week. The manager uses exponential smoothing with α = 0.5 Forecast the number of calls for week 6, which is next week. WEEK ACTUAL SERVICE CALLS 1 28 2 32 3 40 4 27 5 30
4. The yearly demand for units manufactured by the Orion Company Limited has been as follows:Year Units Year Units1 520 5 8602 830 6 9403 520 7 9904 750 8 850Required:i. Prepare a forecast for year 5 through 8 by using a three-year simple moving average.What is the forecast for year 9?ii. Calculate the Cumulative Frequency Error (CFE), Mean Absolute Deviation (MAD),Mean Squared Error (MSE), and Mean Absolute Percentage Error (MAPE) as at the endof year 8.
Please answer the questions in the attached picture below! Thank you!
A Lighting company seeks to study the percentage of the defective glass shells being manufactured. Theoretically, the percentage of defectives is dependent on temperature, humidity, and the level of artisan expertise. Complete historical data are available for the following variables on a daily basis for a year.a. Temperature (high, normal, low)b. Humidity (high, normal, low)c. Artisan expertise (expert, average, mediocre)Some experts feel that defectives also depend on productive supervisors. However, data on supervisors in charge are available for only 242 of the 365 days. How should you conduct this study?
3)The errors in a particular forecast are as follows: 3, -3, 4, 0, -2. What is the tracking signal for each period of the forecast? (use excel to show formulas )
Find the three-month moving average of the sales of shoes for this year.
Following data on the demand for sewing machines manufactured by Taylor and Son Co. have been compiled for the past 10 years. Year 1971 1972 1973 1974 1975 78 1976 1977 1978 1979 99 1980 106 Demand 58 65 73 76 87 88 93 in (1000 units) Please estimate the value of demand for next 3 years using trend analysis.

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