Question

In: Operations Management

Using the data set provided; Make (and state) any necessary assumptions and apply the following forecast...

Using the data set provided; Make (and state) any necessary assumptions and apply the following forecast method to the earliest two years of actual data:

Three-period simple moving average

Cumulative forecast error (CFE)

Mean error

Mean absolute deviation (MAD)

Mean absolute percentage error (MAPE)

Tracking signal

Shipments Fasteners
Jan-17 335798
Feb-17 297853
Mar-17 318399
Apr-17 311730
May-17 363876
Jun-17 296832
Jul-17 297513
Aug-17 321144
Sep-17 317677
Oct-17 325487
Nov-17 272937
Dec-17 276282
Jan-18 335439
Feb-18 310514
Mar-18 407754
Apr-18 356169
May-18 345322
Jun-18 331997
Jul-18 343059
Aug-18 350277
Sep-18 265205
Oct-18 389332
Nov-18 310474
Dec-18 308429
Jan-19 385807
Feb-19 332529
Mar-19 407606
Apr-19 361946
May-19 453432
Jun-19 412892
Jul-19 447359
Aug-19 363769
Sep-19 361232
Oct-19 451421
Nov-19 363724
Dec-19 331619

Solutions

Expert Solution

Three month moving average forecast is calculated by averaging out actual values for last 3 months as calculated in below excel screenshots.

All other calculations with formula are shown in the excel screenshot below.


Please give thumbs up/ likes if you consider my answer useful. Thank you!

keosha answered 7 months ago
Next > < Previous

Related Solutions

APPLICABLE COUNTRY AUSTRALIA (This is the entire question, apply any assumptions if necessary) Ken entered into...
APPLICABLE COUNTRY AUSTRALIA (This is the entire question, apply any assumptions if necessary) Ken entered into a contract to purchase two retail store premises in June 2003. The cost of each was $300,000, with stamp duty of $20,000 each. Settlement was during August 2003.He used these retail premises (which had been previously unoccupied) to commence a business that sold furniture to the public. During the time that Ken owned the store, they each had an annual aggregated turnover of approximately...
Please complete E-R Diagrams for the following situations. State any assumptions that you make. . A...
Please complete E-R Diagrams for the following situations. State any assumptions that you make. . A company employees a number of CONSULTANTS. Each CONSULTANT is assigned to one PROJECT or many projects for a duration of time. Each CONSULTANT is issued a laptop COMPUTER at the start of employment. The CONSULTANT has a different billing rate for each PROJECT. The COMPANY would like to track the number of hours that each CONSULTANT used the laptop
What is the EOQ model? What assumptions are necessary to apply it? How do these assumptions...
What is the EOQ model? What assumptions are necessary to apply it? How do these assumptions change the nature of the cycle inventory pattern graphically?
Perform an ACI mix design using the following data (make assumptions as needed) The 28-day compressive...
Perform an ACI mix design using the following data (make assumptions as needed) The 28-day compressive strength should be 4,000 psi. The concrete is to be used under exterior condition subject to deicer. The slump should be between 3 and 4 in. and the maximum aggregate size should not exceed 1 in. The coarse and fine aggregates in the storage bins are wet. The properties of the materials are as follows: Cement- Type I, specific gravity = 3.15 Coarse Aggregate:...
Please find if there are any outliers in this data set using the Z-score.
Miles 40001 53402 53500 59817 59902 63436 64090 64342 64544 65605 66998 67998 69568 69922 71978 72069 73341 74276 74425 77098 77202 77437 77539 79294 82256 82464 85092 85288 85586 85861 86813 88798 89323 89341 89641 92609 92857 94219 95066 95774 97831 101769 102534 105662 109465 116269 116803 118444 121352 138114 Please find if there are any outliers in this data set using the Z-score. This must be done in excel so please show the formulas used!
Using the following data set: 100, 50, 20, 70, 200, 30, 130 Apply the selection sort...
Using the following data set: 100, 50, 20, 70, 200, 30, 130 Apply the selection sort algorithm [Show the first four iterations only]
Refine Assumptions for Dividend and Retained Earnings Forecast Provided below is FY2016 information for Medtronic PLC....
Refine Assumptions for Dividend and Retained Earnings Forecast Provided below is FY2016 information for Medtronic PLC. Medtronic plc Consolidated Statement of Income ($ millions) Apr. 29, 2016 Net sales $29,610 Costs and expenses Cost of products sold 9,142 Research and development expenses 2,224 Selling, general, and administrative expense 9,469 Special charges (gains), net 70 Restructuring charge, net 290 Certain litigation charges, net 26 Acquisition-related items 283 Amortization of intangiable assets 1,931 Other expense, net 107 Operating profit 6,068 Interest expense,...
Consider the experimental results for the following randomized block design. Make the calculations necessary to set...
Consider the experimental results for the following randomized block design. Make the calculations necessary to set up the analysis of variance table. Treatments A B C Blocks 1 9 9 8 2 12 6 5 3 18 15 14 4 20 18 18 5 8 7 8 Use α = 0.05 to test for any significant differences. Find the value of the test statistic. (Round your answer to two decimal places.)___ Find the p-value. (Round your answer to three decimal...
Consider the experimental results for the following randomized block design. Make the calculations necessary to set...
Consider the experimental results for the following randomized block design. Make the calculations necessary to set up the analysis of variance table. Treatments A B C Blocks 1 10 10 8 2 12 6 5 3 18 15 14 4 20 18 18 5 8 7 8 Use α = 0.05 to test for any significant differences. Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to three decimal...
Consider the experimental results for the following randomized block design. Make the calculations necessary to set...
Consider the experimental results for the following randomized block design. Make the calculations necessary to set up the analysis of variance table. Treatments A B C Blocks 1 10 9 8 2 12 6 5 3 18 16 14 4 20 18 18 5 8 7 8 Use α = 0.05 to test for any significant differences. Find the value of the test statistic. (Round your answer to two decimal places.) __________. Find the p-value. (Round your answer to three...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT