Question
In: Math
An analyst must decide between two different forecasting techniques for weekly sales of roller blades: a...
An analyst must decide between two different forecasting
techniques for weekly sales of roller blades: a linear trend
equation and the naive approach. The linear trend equation is
Ft = 124 + 2.1t, and it was developed
using data from periods 1 through 10. Based on data for periods 11
through 20 as shown in the table, which of these two methods has
the greater accuracy if MAD and MSE are used? (Round your
intermediate calculations and final answers to 2 decimal
places.)
| t | Units Sold |
| 11 | 144 |
| 12 | 146 |
| 13 | 152 |
| 14 | 142 |
| 15 | 152 |
| 16 | 149 |
| 17 | 152 |
| 18 | 154 |
| 19 | 157 |
| 20 | 164 |
| MAD (Naive) | |
| MAD (Linear) | |
| MSE (Naive) | |
| MSE (Linear) | |
(Click to select) Linear trend Naive method provides forecasts with less average error and less average squared error.
Solutions
milcah answered 1 year agoRelated Solutions
An analyst must decide between two different forecasting techniques for weekly sales of roller blades: a...
An analyst must decide between two different forecasting
techniques for weekly sales of roller blades: a linear trend
equation and the naive approach. The linear trend equation is Ft =
125 + 2.0t, and it was developed using data from periods 1 through
10. Based on data for periods 11 through 20 as shown in the table,
which of these two methods has the greater accuracy if MAD and MSE
are used? (Round your intermediate calculations and final answers
to...
An analyst must decide between two different forecasting techniques for weekly sales of roller blades: a...
An analyst must decide between two different forecasting
techniques for weekly sales of roller blades: a linear trend
equation and the naive approach. The linear trend equation is
Ft = 124+ 2.1t, and it was developed
using data from periods 1 through 10. Based on data for periods 11
through 20 as shown in the table, which of these two methods has
the greater accuracy if MAD and MSE are used? (Round your
intermediate calculations and final answers to 2...
Blades, Inc. Case Forecasting Exchange Rates Recall that Blades, Inc., the U.S.-based manufacturer of roller blades,...
Blades, Inc. Case
Forecasting Exchange Rates
Recall that Blades, Inc., the U.S.-based manufacturer of roller
blades, is currently both exporting to and importing from Thailand.
Ben Holt, Blades’ chief financial officer (CFO), and you, a
financial analyst at Blades, Inc., are reasonably happy with
Blades’ current performance in Thailand. Entertainment Products,
Inc., a Thai retailer for sporting goods, has committed itself to
purchase a minimum number of Blades’ Speedos annually. The
agreement will terminate after three years. Blades also imports...
Blades, Inc. Case Forecasting Exchange Rates Recall that Blades, Inc., the U.S.-based manufacturer of roller blades,...
Blades, Inc. Case
Forecasting Exchange Rates
Recall that Blades, Inc., the U.S.-based manufacturer of
roller blades, is currently both exporting to and importing from
Thailand. Ben Holt, Blades’ chief financial officer (CFO), and you,
a financial analyst at Blades, Inc., are reasonably happy with
Blades’ current performance in Thailand. Entertainment Products,
Inc., a Thai retailer for sporting goods, has committed itself to
purchase a minimum number of Blades’ Speedos annually. The
agreement will terminate after three years. Blades also imports...
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled...
Two different forecasting techniques (F1 and F2) were used to
forecast demand for cases of bottled water. Actual demand and the
two sets of forecasts are as follows: PREDICTED DEMAND Period
Demand F1 F2 1 68 67 65 2 75 67 66 3 70 73 70 4 74 69 69 5 69 72 72
6 72 66 73 7 80 70 75 8 78 77 81 a. Compute MAD for each set of
forecasts. Given your results, which forecast appears...
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled...
Two different forecasting techniques (F1 and F2) were used to
forecast demand for cases of bottled water. Actual demand and the
two sets of forecasts are as follows:
PREDICTED DEMAND
Period
Demand
F1
F2
1
68
64
63
2
75
68
60
3
70
75
70
4
74
65
67
5
69
73
76
6
72
70
74
7
80
74
75
8
78
75
85
a. Compute MAD for each set of forecasts. Given
your results, which forecast appears...
You want to determine whether there is a statistically different average weekly sales between Sales Rep...
You want to determine whether there is a statistically different
average weekly sales between Sales Rep A and Sales Rep B.
* Create Null and Alternative Hypothesis statements that would
allow you to determine whether their sales performance is
statistically different or not.
* Use a significance level of .05 to conduct a t-test of
independent samples to compare the average weekly sales of the two
candidates.
* Calculate the p-value?
SAMPLE OF
WEEKLY SALES
Sales Rep
#
AverageWeekly
Sales($)...
Two different forecasting techniques, Linear Regression and Trend-Seasonal, were used to forecast demand for cases of...
Two different forecasting techniques, Linear Regression and
Trend-Seasonal, were used to forecast demand for cases of bottled
water. Actual demand and the two sets of forecasts are as
follows.
Predicted Demand
Period Sales Regression Linear regression Trend-Seasonal
1 282 200 290
2 255 210 230
3 262 220 270
4 290 230 210
5 230 240 250
A) Compute the MAD and Bias for each technique.
B) Construct a sentence to describe what the MAD and Bias tell
the average...
Describe the 6 different forecasting techniques and discuss the pros/cons of each
Describe the 6 different forecasting techniques and discuss the
pros/cons of each
A telephone sales solicitor, trying to decide between two alternative sales pitches, randomly alternated between them...
A telephone sales solicitor, trying to decide between two
alternative sales pitches, randomly alternated between them during
a day of calls. Using approach A, 20% of 100 calls led to requests
for the mailing of additional product information. For approach B
in another 100 calls, only 14 % led to requests for the product
information mailing.
At the 0.05 significance level, can we conclude that the
difference in results was due to chance?
Construct the 95% confidence level for the...
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