Question
In: Statistics and Probability
Determine the seventh projection of the following process variable data: Using Exponential Smoothing (α= 2/n+1) Actual...
Determine the seventh projection of the following process variable data:
Using Exponential Smoothing (α= 2/n+1)
Actual Results 100 123 140 110 150 105
Solutions
Expert Solution
α= 2/n+1 = 2/(7+1) = 0.25
Solve Using Excel:
| α | 0.25 | ||
| Projection | Actual (A) | Foercast (F) | A-F |
| 1 | 100 | 100.00 | 0.00 |
| 2 | 123 | 100.00 | 23.00 |
| 3 | 140 | 105.75 | 34.25 |
| 4 | 110 | 114.31 | -4.31 |
| 5 | 150 | 113.23 | 36.77 |
| 6 | 105 | 122.43 | -17.43 |
| 7 | 118.07 |
| Projection | Actual (A) | Foercast (F) | A-F |
| 1 | 100 | =B3 | =B3-C3 |
| 2 | 123 | =C3+$C$1*D3 | =B4-C4 |
| 3 | 140 | =C4+$C$1*D4 | =B5-C5 |
| 4 | 110 | =C5+$C$1*D5 | =B6-C6 |
| 5 | 150 | =C6+$C$1*D6 | =B7-C7 |
| 6 | 105 | =C7+$C$1*D7 | =B8-C8 |
| 7 | =C8+$C$1*D8 |
Projection 7 = 118.07
orchestra answered 2 years agoRelated Solutions
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