Sales for the past 6 months at Dalworth Company are given in the following table:OMonthJulyAugustSeptemberOctoberWhat is the Mean Absolute Deviation (MAD) for August through December forecasts produced by using exponential smoothing with a = 0.9?(Note: Do not round the forecasts, and choose the closest answer.)Multiple ChoiceONovemberDecemberO15.289.048.75Sales52615335312831.59

For actual sales data given for the past 6 months, I would use the alpha value of 0.9, I would apply…

Answered: What is the Mean Absolute Deviation…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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35 The last seven weeks of demand at a new car dealer are shown below. Use a three-period weighted-moving average forecast to determine a forecast for the 8th week using weights of 3, 2, and 1 (where the most recent week receives the highest weight). (Round all forecasts to the nearest whole unit.) Calculate the MAD for this forecast (covering all weeks in which error comparisons can be made). What does the MAD indicate? Week Sales1 252 303 274 315 276 297 30
Which of the following are common metrics for measuring the relative quality of different forecasting methods? OAbsolutely Mean Mean Squared Accuracy O Mean Absolute Percent Error Mean Squared Response OMean Squared Error Mean Absolute Error (a.k.a. Mean Absolute Deviation)
Discuss the basic assumptions made when using time series forecasting techniques as apposed to casual techniques ?
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous month. Gershon has collected the data shown in the following table: Maroon 5 TV Appearances Demand for Guitars Y = This exercise contains only parts b, c, and d. b) Using the least-squares regression method, the equation for forecasting is (round your responses to four decimal places): + 4 2 X 5 7 5 9 7 6 7 6 10 7
what is the main difference between casual methods and time series methods used in forecasting? explain using briefly your own words
Sales for the past 6 months at Dalworth Company are given in the following table: Month Sales July 52 August 61 September 53 October 35 November 31 December 28 What is the Mean Absolute Deviation (MAD) for August through December forecasts produced by using exponential smoothing with α = 0.4? (Note: Do not round the forecasts, and choose the closest answer.) Multiple Choice 39.64 8.75 15.28 11.94
Develop a forecast for the next month using a four-month moving average method. Use the Excel Functions SLOPE and INTERCEPT to write the linear regression prediction equation with Months as the independent variable and sales as the dependent variable. Use the prediction equation to estimate the number of sales in month 9.
The management of an insurance company monitors the number of mistakes made by telephone service representatives for a company they have subcontracted with. The number of mistakes for the past several months appears in this table along with forecasts for errors made with two different forecasting techniques. The column labeled Exponential was created using exponential smoothing with an alpha of 0.30. The column labeled MA is forecast using a moving average of three periods. Month Mistakes Exponential MA 1 55 2 61 3 71 4 77 71 62 5 88 73 70 6 100 77 79 7 109 84 88 8 122 92 99 9 126 101 110 10 126 108 119 Using the table above, what is the MSE for months 6−10 for the moving average technique? *THE ANSWER IS 343 BUT I WANT TO UNDERSTAND WHY AND HOW YOU GET THE ANSWER*
The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Jan Feb Mar Apr Number of Accidents 30 48 70 90 Part 2 Using the least-squares regression LOADING... method, the trend equation for forecasting is (round your responses to two decimal places): y = enter your response here + enter your response here x Y=?+?x
The owner of Darkest Tans Unlimited in a local mall is forecasting this month's (October's) demand for the one new tanning booth based on the following historical data: Month Number of Visits April 100 May 140 June 110 July 150 August 120 September 160 What is this month's forecast using the naive approach?

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What is the Mean Absolute Deviation (MAD) for August through December forecasts produced by using exponential smoothing with a = a=0.9? (Note: Do not round the forecasts, and choose the closest answer.)