Question
In: Operations Management
The following time series shows the sales of a particular product over the past 12 months....
The following time series shows the sales of a particular product over the past 12 months. 1) Use the Naïve forecast method to get the forecasts for Month 2-12. Calculate the MAE, MSE, and MAPE. ----Details are required as in the lecture. Month Sales 1 120 2 112 3 119 4 112 5 99 6 120 7 125 8 118 9 114 10 108 11 115 12 117 2 2) Use the 3-month moving average forecast method to get the forecasts for Month 4-12. Calculate the MAE, MSE, and MAPE. ---Details are required. Month Sales 1 120 2 112 3 119 4 112 5 99 6 120 7 125 8 118 9 114 10 108 11 115 12 117 3) Which approach do you think is better? Why?
Solutions
keosha answered 6 months agoRelated Solutions
The following time series shows the sales of a particular product over the past 12 months....
The following time series shows the sales of a particular
product over the past 12 months.
Month
Sales
1
105
2
135
3
120
4
105
5
90
6
120
7
145
8
140
9
100
10
80
11
100
12
110
(a)
Construct a time series plot.
(b)
Use α = 0.3 to compute the exponential smoothing
forecasts for the time series. (Round your answers to two decimal
places.)
Month t
Time Series Value
Yt
Forecast
Ft
1
105...
The following time series shows the sales of a particular product over the past 12 months....
The following time series shows the sales of a particular
product over the past 12 months.
Month
Sales
1
105
2
135
3
120
4
105
5
90
6
120
7
145
8
140
9
100
10
80
11
100
12
110
(a)
Construct a time series plot.
A time series plot contains a series of 12 points connected by
line segments. The horizontal axis ranges from 0 to 13 and is
labeled: Month. The vertical axis ranges from 0...
The following time series shows the sales of a particular product over the past 12 months....
The following time series shows the sales of a
particular product over the past 12 months. can be found in the
below excel file.
https://drive.google.com/file/d/1gIpr0IBYUGgCIRSO7g3mqZ84F89vJU_P/view?usp=sharing
1. Using the three-month moving average, what is the Mean
Squared Error (MSE)?
(Round your answer to 2 decimal places. Negative values
should be indicated by a minus sign.)
2. Using the three-month moving average, what is the
forecast for month 13 ?
(Round your answer to 2 decimal places. Negative values
should be indicated by...
The following time series shows the sales of a particular product over the past 12 months....
The following time series shows the sales of a particular
product over the past 12 months.
Month
Sales
1
105
2
135
3
120
4
105
5
90
6
120
7
145
8
140
9
100
10
80
11
100
12
110
Use α = 0.5 to compute the exponential smoothing
forecasts for the time series. (Round your answers to two decimal
places.)
Month t
Time Series Value
Yt
Forecast
Ft
1
105
2
135
3
120
4
105
5...
The following time series shows the sales of a particular product over the past 12 months....
The following time series shows the sales of a particular
product over the past 12 months.
Month
Sales
1
105
2
135
3
120
4
105
5
90
6
120
7
145
8
140
9
100
10
80
11
100
12
110
(b)
Use α = 0.4 to compute the exponential smoothing
forecasts for the time series. (Round your answers to two decimal
places.)
Month t
Time Series Value
Yt
Forecast
Ft
1
105
2
135
3
120
4
105...
The following time series shows the sales of a particular product over the past 12 months....
The following time series shows the sales of a
particular product over the past 12 months. can be found in the
below excel file.
https://drive.google.com/file/d/1gIpr0IBYUGgCIRSO7g3mqZ84F89vJU_P/view?usp=sharing
1. Using the three-month moving average, what is the Mean
Squared Error (MSE)?
(Round your answer to 2 decimal places. Negative values
should be indicated by a minus sign.)
2. Using the three-month moving average, what is the
forecast for month 13 ?
(Round your answer to 2 decimal places. Negative values
should be indicated by...
The time series showing the sales of a particular product over the past 12 months is...
The time series showing the sales of a particular product over
the past 12 months is contained in the Excel Online file below.
Construct a spreadsheet to answer the following
questions.
Use a=0.2 to compute the exponential smoothing forecasts for the
time series (to 2 decimals).
Month
Time-Series
Value
Forecast
1
105
2
130
3
125
4
100
5
90
6
120
7
150
8
135
9
95
10
75
11
100
12
105
13
Use a smoothing constant of...
The following times series shows the demand for a particular product over the past 10 months....
The following times series shows the demand for a particular
product over the past 10 months.
Month
1
2
3
4
5
6
7
8
9
10
Value
324
311
303
314
323
313
302
315
312
326
a. Use α = 0.2 to compute the
exponential smoothing values for the time series. Compute MSE and a
forecast for month 11.
b. Develop a three-week moving average for
this time series. Compute MSE and a forecast for month 11.
c. ...
The following times series shows the demand for a particular product over the past 10 months....
The following times series shows the demand for a particular
product over the past 10 months. Month Value
1 324
2 311
3 303
4 314
5 323
6 313
7 302
8 315
9 312
10 326
a. Use α = 0.2 to compute the exponential smoothing values for
the time series. Compute MSE, MAPE and a forecast for month 11.
b. Calculate MSE and MAPE for three month moving average ?
c. Compare the three-month moving average forecast...
A gourmet pizzeria delivered the following quantities (pizzas) over the past 12 months in 2018: Jan...
A gourmet pizzeria delivered the
following quantities (pizzas) over the past 12 months in 2018:
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
3,300
3,500
3,450
3,600
3,700
3,750
3,700
3,750
3,950
3,950
4,100
4,250
November 4,100
December 4,250
The average monthly operating cost,
including delivery, can be categorized as follows:
Direct Labor = $14,500
Material = $4,000
Overhead = $5,500
In the past three 3 months (October
through December), the pizzeria collected information regarding
customer...
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