Question
In: Operations Management
Forecasting 1. Demand data collected on yearly registrations for a Six Sigma seminar at the Quality...
Forecasting 1. Demand data collected on yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| Registration | 4000 | 6000 | 4000 | 5000 | 10000 | 8000 | 7000 | 9000 | 12000 | 14000 | 15000 |
a. Estimate (forecast) demand again for years 4-12 with a 3-year weighted moving average in which registrations in the most recent year are given a weight of 0.50, 0.25, and 0.25.
b. Estimate (forecast) demand again for years 1-12 using exponential smoothing with a smoothing constant of 0.3. To being, assume that the forecast for year 1 was 5,000 people.
c. Compute the MAD forecasting error for each forecast. Which forecast is better?
Solutions
Expert Solution
Please refer the images below for Solution (a), (b) and (c)
keosha answered 1 month agoRelated Solutions
Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are...
Data collected on the yearly registrations for a Six Sigma
seminar at the Quality College are shown in the following
table:
Year
1
2
3
4
5
6
7
8
9
10
11
Registrations (000)
5.00
7.00
3.00
5.00
9.00
9.00
7.00
11.00
13.00
14.00
12.00
a. Calculate the forecasted registrations for years 2 through 12
using exponential smoothing, with a smoothing constant (α) of 0.40
and a starting forecast for 5.00 year 1 (round your responses to
one demical...
Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are...
Data collected on the yearly registrations for a Six Sigma
seminar at the Quality College are shown in the following
table:
Year
1
2
3
4
5
6
7
8
9
10
11
Registrations (000)
4.00
5.00
4.00
4.00
9.00
9.00
6.00
9.00
11.00
16.00
12.00
a) Calculate the forecasted registrations for years 2 through
12 using exponential smoothing, with a smoothing constant
(α)
of
0.30
and a starting forecast of
4.00
for year 1 (round your responses to...
The following data were collected on the yearly registration for a six sigma seminar at the...
The following data were collected on the yearly registration
for a six sigma seminar at the University of Malaya
Tahun/Year
Pendaftaran/ Registration
1
400
2
600
3
400
4
500
5
1000
6
800
7
700
8
900
9
1200
10
1400
a. Calculate a 3-year moving average to forecast
registration from year 4 to year 11.
1. Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply...
1. Data collected on the yearly demand for 50-pound bags of
fertilizer at Wallace Garden Supply are shown in the following
table. Develop a three-year moving average to forecast sales. Then
estimate demand again with a weighted moving average in which sales
in the most recent year are giveo9n a weight of 2 and sales in the
other two years are each given a weight of 1. Which method do you
think is best? Year Demand for Fertilizer (1,000s of...
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are...
Data collected on the yearly demand for 50-pound bags of
fertilizer at Wallace Garden Supply are shown in the following
table. Compare the exponential smoothing with a smoothing constant
of 0.3 and a three-year moving average forecasting method, which
method do you think is better (use mean absolute deviation MAD for
your analysis)? how to analyze each in excel and what
determines which is best method?
YEAR
DEMAND FOR FERTILIZER (1,000s
OF BAGS)
1
4
2
6
3
4...
The following data shows the yearly production data collected from country A and B. Yearly profit...
The following data shows the yearly production data collected
from country A and B. Yearly profit in ‘000 Calculate: 1) the
coefficient of variation for firms in State A and B 2) the
interquartile range for firms in State A and B 3) the median profit
for firms in State A and B 4) the mode profit for firms in State A
and B 5) the profit variance for firms in State A and B 6) mean
deviation from the...
1) The following data shows the yearly production data collected from firms in XYZ state and...
1) The following data shows the yearly production data collected
from firms in XYZ state and ABC state.
Yearly production in tons
Number of Firms in XYZ
Number of Firms in ABC
50 - 150
9
35
150 - 250
10
40
250 - 350
11
56
350 - 450
40
62
450 - 550
56
78
550 - 650
68
55
650 - 750
110
53
750 - 850
125
52
850 - 950
98
44
950 - 1050...
What are the quality management tools and methods that are used in Six Sigma process?
What are the quality management tools and methods that are used
in Six Sigma process?
CONTINUAL IMPROVEMENT METHODS WITH SIX SIGMA, LEAN, LEAN SIX SIGMA, AND MORE 1. What is the...
CONTINUAL IMPROVEMENT METHODS WITH SIX SIGMA, LEAN, LEAN SIX
SIGMA, AND MORE
1. What is the Kaizen approach? And his elements? And
his tools?
2. What is the CEDAC approach?
3. What is the Lean approach?
4. What kind of waste the Lean focuses to
reducing?
5. What is the Lean approach tools?
1. Define the term six sigma.
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