Which time-series model below assumes that demand in the next period will be equal to the most recent period's forecast?A. naive approachB. moving average approachOC. trend projectionD. weighted moving average approachO E. exponential smoothing approach with α = 0

A time series is a series of data pinpoints (Listed or graphed) in the time order. Most typically, a…

Answered: Which time-series model below assumes…

Practical Management Science

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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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Which of the following is not true of qualitative forecasting methods? a. They generally work best when combined with a quantitative approach b. They are more objective than quantitative methods c. They are largely non-mathematical d. They are not restricted to only the quantifiable data e. They come with the danger of biasing the forecast due to subjectivity Explain both true and false options briefly
If we use a simple exponential smoothing method with ??=0.3, ??11=100 and ??12=120, what is your forecast for next year? A. 120 B. 126 C. 128 D. None of the above 10. Which one is NOT part of the reasons to keep inventory? A. To allow flexibility in production scheduling B. To meet variation in product demand C. To maintain dependence of operations D. To provide a safeguard for variation in raw material delivery time
You have a data set that includes time period and past sales data, and you want to use a time series forecasting technique. Which of the following forecasting methodologies is considered a time series forecasting technique? a.Group of answer choices b.Delphi method c.Simple movement smoothing d.Weighted moving average e.Simulation f.Exponential averaging
The following tabulations are actual sales of units for six months and a starting forecast in January. ACTUAL 124 FORECAST 104 120 133 109 86 105 January February March April May June a. Calculate forecasts for the remaining five months using simple exponential smoothing with a = 0.3. Note: Round your answers to the nearest whole number. February March April May June Saved Forecasts b. Calculate the MAD for all the forecasts, including January's. Note: Round your answer to 1 decimal place. MAD
The observed demand from the four quarters of Year 1 can also be used to developinitial deseasonalized forecast estimates that are required to start making forecasts withthe exponential smoothing models. The first real forecast will be for Q1 of Year 2, andthe use of simple exponential smoothing requires an estimated deseasonalized forecastfrom Q4 of Year 1 to use as a starting point. The estimated deseasonalized “forecast” forQ4 of Year 1 should be obtained as the average deseasonalized quarterly demand fromYear 1. The estimate can also be used as the starting base forecast component for Q4 ofYear 1 for trend-adjusted exponential smoothing. The initial deseasonalized trendcomponent estimate for Q4 of Year 1 should be assumed to be zero.
1. Favors Distribution Company purchases small imported trinkets in bulk, packages them, and sells them to retail stores. They are conducting an inventory control study of all their items. The following data for the year 2006 are for one such item, which is not seasonal. [10 Points] Month Sales Jan Feb 18 19 Mar Apr May Jun 17 21 20 19 Jul 20 Aug 23 a. Use trend projection to estimate the relationship between time and sales (state the trend line equation in this problem). b. Calculate forecasts for February 2007, April 2007, and February 2008
can you make an operations management analysis for this forecasting
The most naive forecast can is quite valuable in leading to an organization’s success because it is most widely understood by senior managers. True or False
Do not use chatgpt. Answer in step by step with explanation.
Which of the following is important if forecasting is to have the desired positive effect on decisions? A. Communication between forecast staff and managment B. Ranges of forecast are reported to managment C. Forecast combination is examined D Forecast presentations should not be overly technical unless managment desires E All of the above 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.
In the Delphi technique, the members of the panel of experts don’t meet and discuss, yet they must reach a certain level of agreement in their forecasts. True False
a. What is your forecast for December of Year 4, making period 1 as the starting period for the regression? b. The actual demand for period 48 was just learned to be 5,100. Add this demand to the Inputs file and change the starting period for the regression to period 2 so that the number of periods in the regression remains unchanged. How much or little does the forecast for period 49 change from the one for period 48? The error measures? Are you surprised?c. Now change the time when the regression starts to period 25 and repeat the process. What differences do you note now? What forecast will you make for period 49?

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Which time-series model below assumes that demand in the next period will be equal to the most recent period's forecast? A. naive approach O B. moving average approach OC. trend projection D. weighted moving average approach O E. exponential smoothing approach with a = 0