Use data to solve for week 53What happens if we use a larger alpha value in our exponential smoothing forecast, such as 0.80 opposed to 0.50?Group of answer choicesIt would be more accurate because it includes more of the forecast error.There would be no change.It would be more sensitive to changes.It would smooth out the variation more. ¶¶Situation: The "Small Town Restaurant" uses a forecast of weekly sales revenue to plan theirinventory ordering and staffing for the upcoming week. They have been using a regressionforecast for the past year and wonder if it is the most accurate method. You have been brought into determine if another forecasting technique would be more accurate. Data for their weeklysales for the past year is below:¶Week Revenue. X Week12 $3,0163 $3,062.¤ ¤4$ 3,074. X5$3,002.6----3,054-¤¤7 $3,002.¤ ¤89$3,078¤ ¤10 $3,010- X11 $3,148.12$3,146$3,198.13X¶$3,157.**$Forecasting S$ 2,984-¤¤A- Small Town RestaurantRevenue.14 $3,157 ¤$3,016¤1516 $3,019¤17 $3,045¤1819$3,046 ¤$3,157 ¤$3,016 ¤$3,078 ¤22 $2,9842021¤23 $3,002 ¤24 $3,054 ¤25 $3,002 ¤26 $2,941 XAWeekRevenue.27 $2,899 ¤28 $2,942¤29 $3,062 X¤30 $3,07431 $3,013 ¤¤32 $3,06733 $3,148 ¤34 $3,146¤35 $3,198 ¤36 $3,082 ¤37 $3,146 ¤38 $3,150 ¤39 $3,221 ¤XBWeek Revenue. ¤40 $3,298.41 $3,201.42 $3,156.43 $3,017. X44 $3,156.45 $3,097.46 $ 2,978. X47 $3,12048 $3,156.49 $3,048.50 $2,948.51 $ 2,840.52 $2,921.X$ 159,532 Annual totalYou will use this data in the next few steps to complete various time series forecasts andcompare them to determine the most accurate method.¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤X{X{X{X{ Using an alpha of 0.50 and $2,927.92 as the forecast for week 52, what is the exponentialsmoothing forecast for week 53 for Small Town Restaurant (see downloaded file for actualdemand)? Exponential smoothing equation is provided below. Provide two decimal places anduse normal rounding.F₁ = F₁_₁ + a(A₁_₁ − F₁-₁)-t

Given the data of the weekly sales revenue of "Small Town Restaurant" asWeekRevenue…

Using an alpha of 0.50 and $2,927.92 as the forecast for week 52, what is the exponential smoothing forecast for week 53 for Small Town Restaurant (see downloaded file for actual demand)? Exponential smoothing equation is provided below. Provide two decimal places and use normal rounding. F₁ = F₁_₁ + α(A₂_₁ − F₁-₁) 1-1

Using an alpha of 0.50 and $2,927.92 as the forecast for week 52, what is the exponential smoothing forecast for week 53 for Small Town Restaurant (see downloaded file for actual demand)? Exponential smoothing equation is provided below. Provide two decimal places and use normal rounding. F₁ = F₁_₁ + α(A₂_₁ − F₁-₁) 1-1

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

Use data to solve for week 53

What happens if we use a larger alpha value in our exponential smoothing forecast, such as 0.80 opposed to 0.50?

Group of answer choices

It would be more accurate because it includes more of the forecast error.

There would be no change.

It would be more sensitive to changes.

It would smooth out the variation more.

¶
¶
Situation: The "Small Town Restaurant" uses a forecast of weekly sales revenue to plan their
inventory ordering and staffing for the upcoming week. They have been using a regression
forecast for the past year and wonder if it is the most accurate method. You have been brought in
to determine if another forecasting technique would be more accurate. Data for their weekly
sales for the past year is below:
¶
Week Revenue. X Week
1
2 $3,016
3 $3,062.¤ ¤
4
$ 3,074. X
5
$3,002.
6
----3,054-¤¤
7 $3,002.¤ ¤
8
9
$3,078¤ ¤
10 $3,010- X
11 $3,148.
12
$3,146
$3,198.
13
X
¶
$3,157.**
$
Forecasting S
$ 2,984-¤¤
A
- Small Town Restaurant
Revenue.
14 $3,157 ¤
$3,016
¤
15
16 $3,019
¤
17 $3,045
¤
18
19
$3,046 ¤
$3,157 ¤
$3,016 ¤
$3,078 ¤
22 $2,984
20
21
¤
23 $3,002 ¤
24 $3,054 ¤
25 $3,002 ¤
26 $2,941 X
A
Week
Revenue.
27 $2,899 ¤
28 $2,942
¤
29 $3,062 X
¤
30 $3,074
31 $3,013 ¤
¤
32 $3,067
33 $3,148 ¤
34 $3,146
¤
35 $3,198 ¤
36 $3,082 ¤
37 $3,146 ¤
38 $3,150 ¤
39 $3,221 ¤
X
B
Week Revenue. ¤
40 $3,298.
41 $3,201.
42 $3,156.
43 $3,017. X
44 $3,156.
45 $3,097.
46 $ 2,978. X
47 $3,120
48 $3,156.
49 $3,048.
50 $2,948.
51 $ 2,840.
52 $2,921.
X
$ 159,532 Annual total
You will use this data in the next few steps to complete various time series forecasts and
compare them to determine the most accurate method.
¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤
X{
X{
X{
X{

Using an alpha of 0.50 and $2,927.92 as the forecast for week 52, what is the exponential
smoothing forecast for week 53 for Small Town Restaurant (see downloaded file for actual
demand)? Exponential smoothing equation is provided below. Provide two decimal places and
use normal rounding.
F₁ = F₁_₁ + a(A₁_₁ − F₁-₁)
-
t

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