Question
In: Statistics and Probability
Using the following 8 weeks of demand data to determine the best forecasting method. Compare 3...
Using the following 8 weeks of demand data to determine the best forecasting method. Compare 3 period simple moving average, 3 period weighted moving average and exponential smoothing. Week Sales 1 133 2 137 3 145 4 146 5 150 6 124 7 135 8 130
a) What is the MAD using the 3 period simple moving average (SMA) method
b) What is the forecast for Week 9 using the 3 period simple moving average forecasting method?
c) What is the MSE using the 3 period weighted moving average (WMA) (weights of 0.40, 0.35, and 0.25) method
d)What is the forecast for Week 9 using the 3 period weighted moving average (weights of 0.40, 0.35, and 0.25) forecasting method?
e) What is the MAPE using the exponential smoothing (ES) method (using α = 0.21)? (Assume the forecast for the first week is 133)
f) What is the forecast for Week 9 using the exponential smoothing (using α = 0.21) forecasting method?(Assume the forecast for the first week is 133)
g) Which of these methods is the best forecasting method? Choose one error measurement for comparison. Explain using quantitative values.
Solutions
orchestra answered 1 year agoRelated Solutions
4. Do the following problems, using data set #3: (a) Use the naïve forecasting method, the...
4. Do the following problems, using data set #3:
(a) Use the naïve forecasting method, the average of historical
data method, and a 3-period moving average to estimate values of
X.
(b) Calculate the Mean Absolute Error, the Mean Squared Error,
and the Mean Absolute Percentage Error for each forecasting
method.
(c) Based on your answers to (b), which the best forecasting
method?
5. Do the following, using data set #3:
(a) Calculate a linear trend regression for X.
(b)...
Compare the following 3 alternatives using the incremental benefit/cost ratio method. Determine which is the most...
Compare the following 3 alternatives using the
incremental benefit/cost ratio method. Determine which is the most
efficient and which is the most profitable. i=5% per year
compounded yearly.
Alter.
DOT Construction cost
Annual Maintenance
Annual Benefits
Life (yrs)
A
$250,000
$5,000
$320,000
9
B
$450,000
$7,000
$370,000
15
C
$700,000
$10,000
$380,000
25
3. Use the polygon method to determine the resultant of the following forces: a) 8 lb...
3. Use the polygon method to determine the resultant
of the following forces: a) 8 lb at 40°, b) 9 lb at 110°, 11 lb at
160°, and 12 lb at 200°. (Graphical Solution)
Compare the following 2 alternatives using the incremental rate of return method. Determine which is the...
Compare the following 2 alternatives using the
incremental rate of return method. Determine which
is the most efficient and which is the most profitable. MARR=8% per
year compounded yearly. (Note: For full credit, I want you to
compute the actual IRR values)
Alter.
Construction cost
Annual Benefits
Salvage
Life (yrs)
A
$1,250,000
$300,000
$12,500
12
B
$750,000
$270,000
$10,000
7
3. A teacher believes that a new method will improve students’ reading ability. For 8 weeks,...
3. A teacher believes that a new method will improve students’
reading ability. For 8 weeks, she teaches a class of 21 students
using these new methods. Meanwhile a colleague uses “traditional”
methods to teach his 23 students. At the end of the 8 weeks, all
the students are given the Degree of Reading Power Test. Here are
the scores:
New
Method students
24
43
58
71
43
49
61
44
67
49
53
56
59
52
62
54
57...
Using the demand data supplied in the below table, please calculate the following from your company's forecasting perspective.
Using the demand data supplied in the below table, please calculate the following from your company's forecasting perspective. Please use Excel to calculate your forecasting answers, so behind the cells in Excel, there has to be formulas for answering the below questions. Your company wants to forecast the demand for their product, based on the data below a) Calculate the simple four-week moving average for weeks 5 through 12 b) Calculate the weighted three-week moving average using weights of 0.40, 0.40, and...
11. You are responsible for the Demand Forecasting group at a mid-size company. Six weeks into...
11. You are responsible for the Demand Forecasting group at a
mid-size company. Six weeks into the fiscal year, you are called to
a meeting with two days of notice with the vice-president of sales,
one of the finance directors and the company president. This is in
reference to an email from executive leadership that the sales
goals and plans are mis-aligned with your fiscal year forecast. It
seems that your forecasts are 3.8% below sales plans and 3.5% below...
Your manager is trying to determine what forecasting method to use. Based on the following historical...
Your manager is trying to determine what forecasting method to
use. Based on the following historical data, calculate the
following forecast and specify what procedure you would
utilize.
month
actual demand
1
62
2
65
3
67
4
68
5
71
6
73
7
76
8
78
9
78
10
80
11
84
12
85
1. Calculate the exponential smoothing with trend component
forecast for periods 2–12 using an initial trend forecast
(T1) of 1.8, an initial exponential smoothing
forecast...
Your manager is trying to determine what forecasting method to use. Based on the following historical...
Your manager is trying to determine what forecasting method to
use. Based on the following historical data, calculate the
following forecasts and specify what procedure you would
utilize.
MONTH
ACTUAL DEMAND
1
53
2
56
3
58
4
65
5
74
6
75
7
76
8
77
9
77
10
79
11
81
12
82
c. Calculate the single exponential smoothing
forecast for periods 2–12 using an initial forecast
(F1) of 61 and an α of 0.30.
d. Calculate the...
Forecasting with the Parsimonious Method and Estimating Share Value Using the DCF Model Following are the...
Forecasting with the Parsimonious Method and Estimating
Share Value Using the DCF Model
Following are the income statement and balance sheet for Cisco
Sytems for the year ended July 30, 2016.
Cisco Sytems
Consolidated Statements of Income
Years Ended December ($ millions)
July 30,
2016
July 25,
2015
Revenue
Product
$37,254
$37,750
Service
11,993
11,411
Total revenue
49,247
49,161
Cost of sales
Product
14,161
15,377
Service
4,126
4,103
Total cost of sales
18,287
19,480
Gross margin
30,960
29,681
Operating expenses...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Young and Company claims that its pressurized diving bell will, on average, maintain its integrity to...
- 1) Alternative compiled code sequence using instructions in classes A, B, C. What is the average...
- An asset is purchased on January 1 for $48,700. It is expected to have a useful...
- Do we have any online or offline tool to convert c and cpp programs into MIPS...
- -what is the pH of HCl 0,1M and NaCl 0,1M mixed together solution? -What is the...
- function X=extractDWT(x_train,startS,endS,wStep,wRange) % x_train = input signal % startS = from second % endS = end...
- Do you agree that Social Loafing is similar to Theory X. Give an example to support...
ADVERTISEMENT