Using the data set below, what would be the forecast for period 5 using the exponential smoothing method? Assume the forecast for period 4 is 14000. Use a smoothing constant of a = 0.4 (Choose the closest answer. Please submit your worksheet showing the calculation method Period Actual Demand 1 10000 12400 3 13250 14750 15220 18500 The choices are A. 12660 B. 13190 C. 14030 D. 15220
Q: 1. Use the sales forecaster’s prediction to describe a normal probability distribution that can be u...
A: If the demand is assumed as x then x will follow normal distribution with mean of 2000.
Q: What are the different ways the project manager uses Webcams?
A: A webcam is an advanced video gadget regularly incorporated into a PC. Its principal work is to send...
Q: Explain the relationship between the annual ordering cost and the ordering size.
A: The ordering costs are the costs that are incurred each moment an order for products is placed with ...
Q: Describe how prototyping can be used to augment the traditional systems development life cycle. (Ke
A: Prototyping is an alluring idea for difficult & large schemes for which there is no physical pr...
Q: Efficiency is a critical component of valuing health care, since cost reduction without regard to th...
A: Efficiency is a critical component of valuing health care, since cost reduction without regard to th...
Q: Explain how you can improve the theoretical capacity of a process?
A: Theoretical capacity can be stated as the amount of throughput or production that could be obtained ...
Q: 1. When Tracy McCoy wakes up Saturday morning, she remembers that she promised the PTA Would make so...
A: Part (A): Decision Variables: Suppose-x be the no. of cakesy be the no. of loaves of bread
Q: Using the information in Problem (The demand for subassembly Sis 100 units in week 7.Each unit ofS r...
A: A Small Introduction about Manufacturing Management Similar to creation management, manufacturing...
Q: Analyze the situation and answer the question given at the end. Reem is a volunteer in the Natio...
A: Before Reem has a feeling of self satisfaction and mental peace. She was practicing in the national ...
Q: Using MAD as a criterion, which technique has the better performance record?
A: MAD or Mean Absolute Deviation indicating the average value of the absolute errors. An efficient for...
Q: Once a material requirements plan (MRP) has been established, what other managerial applications mig...
A: Material requirements planning often called MRP can be stated as the framework or system for determi...
Q: Calculate the process capability ratio of the same
A: Process capability Ratio (Cp) is helping to measure the process capability in a statistical measurem...
Q: Operations Management 1. An Enterprise resource-planning system helps a company? a. Find new low cos...
A: Customer relationship management is described as the management of a company's interactions and rela...
Q: 1. Explain why the transportation planning process is not intended to furnish a decision or give a s...
A: The transportation planning process is a rotational one with the goal of gathering unbiased informat...
Q: Sovenir Ltd. Does production of 2 lakhs units per month and the various inputs used by the company (...
A: Given:Output produced yearly = 2 lakh x12 = 24,00,000 Unitslabour input = Rs.92,000Capital input= Rs...
Q: How important does credibility mean for a project manager?
A: Credibility is created through a group of little points accomplished in the project. In project mana...
Q: Asses the THREE (3) major categories of analytical reports and provide examples of each.
A: The 3 basic groups of analytical business depictions include the subsequent:
Q: Brenda Last, an undergraduate business major at State University, is attempting to determine her cou...
A: Binary integer linear programming refers to the linear programming technique in which the objective ...
Q: Cutey Barber Salon Cutey Barber Salon is a trendy barber salon that is located in a densely popula...
A: Customer satisfaction is described as the measurement that allows accurate identification of the cus...
Q: What barriers muat be overcome for a potential mew product entry?
A: When a new product is ready and launched in the market it does not gain success or popularity direct...
Q: What is the average time a car waits for service? What is the average time in the system? What is th...
A: Service rate is the rate at which the customers are being served by the worker in the organizational...
Q: 2. A retail store sold in the month of April 5,000 products that produced $45,000 in sales. In the m...
A: Productivity is the process of manufacturing the products and services most effectively and efficien...
Q: calculate the productivity of the firm that produces beef products as it produces 6000 units in almo...
A: Given: Quantity Produced = 6000 units time taken = 567 Hours Selling price = $ 41 Labour rate = $ 36...
Q: ow much would the minimum total annual inventory-related costs that JJ would incur if it applies the...
A: EOQ stands for Economic order quantity, and at EOQ level the cost of inventory remains lowest, sugge...
Q: 3. Suppose you Donald Inc. is managing production of three products (X, Y, Z) in three different loc...
A: Objective Functions and Constraints: Based on the given details, the objective funct...
Q: The County Transportation Department needs to determine usage factors by day of the week for a popul...
A: Given-
Q: Cutey Barber Salon is a trendy barber salon that is located in a densely populated city called Maple...
A: Given information - Year Demand for haircuts and hairstyling2017 11,5002018 12,...
Q: Explain the model of ethical decision-making in business and explain how it differs from the process...
A: An ethical decision-making model is a framework that executives can use to introduce these ideas to ...
Q: Is Amazon Web Services a platform for integrating business applications?
A: Amazon Web Services (AWS) is the world's most complete and widely used cloud platform, with over 200...
Q: the inventory is 20 and the mps is 200. complete the master schedule
A: Note: - MPS value is taken 200 here instead of 100 because it is specified. Given data is
Q: With the use of a diagram, show (illustrate) the typical levels of project staffing related to each ...
A: A project begins with an aim, and in order to achieve that purpose, the organization determines the ...
Q: why it is important for a firm to have a location strategy ?
A: Concept Introduction Location Strategy refers to a firm's geographical positioning to have direct ac...
Q: This is sometimes referred to as an area sampling because it is usually applied on a geographical ba...
A: A stratified or area sampling is a method in which a data or sampling is done over a uncertain area ...
Q: What are Project Management Knowledge areas?
A: Project management knowledge areas are the different aspects of project management divided into 10 p...
Q: Wevcc roots makes Bottles of premium root juices , it has one production line which can produce a ma...
A: GIVEN: Actual level of output = 73,42,721 Units of bottle Maximum possible Output = 71,00,000 unit...
Q: 2. Aggregate planning has been described as the process of matching supply and demand over a medium...
A: Aggregate planning is the act of creating, assessing, and maintaining a preliminary, estimated timet...
Q: A vast majority of raw materials are delivered from varied global vendor locations to manufacturing ...
A: Suppliers management is the management process in which different activities are listed to monitor q...
Q: Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs...
A: Linear regression shows the relationship between two variables. It is written in for5m y=mx+b where ...
Q: The Better Products Company has decided to initiate the product of four new products, using three pl...
A: Compute the solution as shown below:
Q: Your team has been assigned to complete 10 client projects over the next two months. These projects ...
A: Find the Given details below: Given Details: Project # Processing Time (days) Due date 1 6 17...
Q: What are the advantages of security risk analysis?
A: The security risk evaluation is very significant & there are some recompenses of having security...
Q: ter at a large regional hospital provides training sessions in CPR to all employees. Assume that the...
A: Following will be the definitions : Efficiency = (Actual output ÷ Effective capacity) × 100 Utilizat...
Q: 101 Management's Forecast 122 114 a) What is the MAD for the forecast developed by management sales ...
A: MAD shows the average deviations of the forecasted values in comparison to actual sales. MAPE is th...
Q: The success of a project hinges on having the right human resources to carry out the project work. L...
A: SUMMARY- Being a project HR manager in an environmental company, the project manager needs to check ...
Q: Covid-19 is an example of a general environment force. Group of answer choices True False
A: A general environment is a environment in which is beyond the controls of an organisation or it is a...
Q: b) You are a sales manager for a toy manufacturer, & you currently have 3 salespeople on the road me...
A: From/To City Dome Elimina Foso Accra 250 400 350 Bawku 400 600 350 Cape Coast 200 400 250
Q: Cutey Barber Salon Cutey Barber Salon is a trendy barber salon that is located in a densely populate...
A: Given-
Q: Each A (finished good) requires 1 of component B and 2 of component C. Each B requires 2 of part D a...
A: Given information, A = 1B + 2C B = 2D + 1E C = 1D + 1F
Q: The DPCI score for size would be 4 in which of the following situations? The project manager and...
A: In managing the organizational project, we would consider the DPCI score or Darnall Preston Complexi...
Q: The chart below shows the initial investment and expected yearly payback for Project A and Project B...
A: A Small Introduction about Investment A venture is basically a resource that is made fully intent...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six months of observations for validation purposes, use the method of moving averages with a carefully chosen span to forecast U.S. retail sales in the next year. Comment on the performance of your model. What makes this time series more challenging to forecast?The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?
- The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel Agency. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b?The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a particular company. The company suspects that except for random noise, its sales are growing by a constant percentage each month and will continue to do so for at least the near future. a. Explain briefly whether the plot of the series visually supports the companys suspicion. b. By what percentage are sales increasing each month? c. What is the MAPE for the forecast model in part b? In words, what does it measure? Considering its magnitude, does the model seem to be doing a good job? d. In words, how does the model make forecasts for future months? Specifically, given the forecast value for the last month in the data set, what simple arithmetic could you use to obtain forecasts for the next few months?
- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The file P13_25.xlsx contains the quarterly numbers of applications for home mortgage loans at a branch office of Northern Central Bank. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b? Is it guaranteed to produce better forecasts for the future?The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?
- The file P13_27.xlsx contains yearly data on the proportion of Americans under the age of 18 living below the poverty level. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Create a chart of the series with the forecasts superimposed from this optimal smoothing constant. Does it make much of an improvement over the model in part b? d. Write a short report to summarize your results. Considering the chart in part c, would you say the forecasts are good?Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)? Answer this question by estimating a simple regression equation where the sales price of the house is the dependent variable, and the size of the house is the explanatory variable. Use the sample data given in P13_06.xlsx. Interpret your estimated equation, the associated R-square value, and the associated standard error of estimate.The file P13_19.xlsx contains the weekly sales of a particular brand of paper towels at a supermarket for a one-year period. a. Using a span of 3, forecast the sales of this product for the next 10 weeks with the moving averages method. How well does this method with span 3 forecast the known observations in this series? b. Repeat part a with a span of 10. c. Which of these two spans appears to be more appropriate? Justify your choice.