Using linear regression analysis, what would youestimate demand to be for each month next year?Month ForecastJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year.The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety lawshave been passed to prevent joggers from wearing them. Demand for the players for last year was as follows:MONTHDEMAND (UNITS)JanuaryFebruary4,1004,200March3,900April4,300May4,900June4,600July5,200August4,800September5,300October5,600November6,200December5,900

Regression analysis is indeed a statistical technique that actually demonstrates the relationship…

Answered: Using linear regression analysis, what…

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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Below is a table containing data on product demand for the most recent five months along with the forecasts that had been made for those 5 previous months. Use the 3-period simple moving average method to forecast the number of sales to expect next month. Month Demand Forecast 1 308 341 388 343.3 3 344 364.7 4 400 346.7 341 377.3
What implications do forecast errors have for the search for ultrasophisticated statistical forecasting models?
Here are the actual tabulated demands for an item for a nine-month period (January through September). Your supervisor wants to test two forecasting methods to see which method was better over this period. MONTH ACTUAL January 120 February 145 March 146 April 171 May 154 June 182 July 138 August 135 September 146 a. Forecast April through September using a three-month moving average. b. Use simple exponential smoothing with an alpha of 0.20 to estimate April through September, using the average of January through March as the initial forecast for April. c-1. Calculate MAD for Three-month moving average and Exponential smoothing. c-2. Use MAD to decide which method produced the better forecast over the six-month period.
Describe the word least-square forecasting?
Is forecasting technique more accurate than TSA? Justify your answer.
Please answer this simple question
If month one has 240,000 demands, month two 250,080 demands, month three 325,00 demands, month four 370,000 demands, month five 420,000 demands and month six 509,00 demands. Use a forecast for the first month of 240,000, an initial trend forecast of 50,000, and smoothing parameters of 0.35 for both demand smoothing and trend smoothing. Compute the forecasts and trends using double exponential smoothing
Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows: Month Sales Forecast 1 Forecast 21 770 771 7692 789 785 7873 794 790 7924 780 784 7985 768 770 7746 772 768 7707 760 761 7598 775 771 7759 786 784 78810 790 788 788a. Compute the MSE and MAD for each forecast. Does either forecast seem superior? Explain.b. Compute MAPE for each forecast.c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following; (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits.How do the naive results compare with the other two forecasts?
In a retail store, the actual sales of a particular product (in thousands of units) over the past few months are as follows: Month Sales 1 16 2 22 3 18 4 20 5 23 Using exponential smoothing method with α (smoothing constant) of 0.75 and the given forecast for month 1 equal to 10, what is the forecast for month 6?
b. Compute 2s control limits for each forecast. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Forecast Method 1 Method 2 Control Limits
Given the following historical data, what is the simple three-period moving average forecast for period 6? Period Value 1 73 2 68 3 65 4 72 5 67
please answer in 30 minutes.

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Using linear regression analysis, what would you estimate demand to be for each month next year? Month Forecast January February March April May June July August September October November December