Question

In: Math

The number of products sold for the past several months is given along with the forecasts...

The number of products sold for the past several months is given along with the forecasts using both 3-month moving average and exponential smoothing (α = .2). Determine the better forecast using the MSE.

Month

Sales

3-month moving average

Error

Exponential

Smoothing

Error

Jan

13

Feb

18

March

15

Apr

12

May

14

June

15

July

10

Solutions

Expert Solution

milcah answered 2 years ago
Next > < Previous

Related Solutions

Below are the reported profits and losses of Amherst Company for the past several years along...
Below are the reported profits and losses of Amherst Company for the past several years along with their tax rates on income reported.                                 Income                                                 Tax rate 2012                       $100,000                                              30% 2013                       $ 20,000                                               30% 2014                       $100,000                                              40% 2015                       $(350,000)                                           40% 2016                       $75,000 30% 2017                       unknown 30% Amherst elects to use both carry back and carry forward procedures with no valuation allowance and strongly anticipates future profits to recover losses. Record the tax effect of the above in 2015.                                                                                                                                                 Dr....
You are asked to provide sales forecasts of several products for a large biscuit manufacturing company....
You are asked to provide sales forecasts of several products for a large biscuit manufacturing company. Define the steps to perform an effective forecasting in the context of this company.
Based on data that was collected over the past several months, the average time between arrivals...
Based on data that was collected over the past several months, the average time between arrivals to the Emergency Room on a Monday between the hours of 7am to 7pm is 35min. Emergencies occur at random, and hence the arrival of patients to the Emergency Room follows a purely random process. What probability distribution would you use to model the time between patient arrivals? Suppose a patient just arrived, what is the probability the next patient will arrive in less...
Several types of yogurt are sold in a small general store. From a past study of...
Several types of yogurt are sold in a small general store. From a past study of customer​ selections, the owner knows that 25​% of the customers ordered flavor​ A, 30​%, flavor​ B, 18​%, flavor​ C, 13​%, flavor​ D, and the​ remainder, flavor E. Now the​ owner, who thinks that the customer preferences have​ changed, randomly samples 80 customers and finds that 15 prefer​ A, 17 prefer​ B, 30 prefer​ C, 7 7 prefer E and the remainder prefer D. Determine...
Two computer stores recorded the number of computers sold in a week along with the sizes...
Two computer stores recorded the number of computers sold in a week along with the sizes of their hard drives. At a = .05, test the claim that the distribution of hard drives and the store where the computers were bought are not related. store one sold 13 20gb, 11 40gb, 11 80gb, 8 160gb. store two sold 104 20gb, 33 40gb, 15 80 gb, 10 160gb Hypothesis with claim Draw Curve Critical Value Test Value Decision Summary
Two computer stores recorded the number of computers sold in a week along with the sizes...
Two computer stores recorded the number of computers sold in a week along with the sizes of their hard drives. At a = .05, test the claim that the distribution of hard drives and the store where the computers were bought are not related. store one sold 13 20gb, 11 40gb, 11 80gb, 8 160gb. store two sold 104 20gb, 33 40gb, 15 80 gb, 10 160gb Hypothesis with claim Draw Curve Critical Value Test Value Decision Summary
The number of loaves of bread sold per day by an organic bakery over the past...
The number of loaves of bread sold per day by an organic bakery over the past five years can be treated as a random variable that is normally distributed. This distribution has a mean of 77.5 and a standard deviation of 14.4 loaves. Suppose a random sample of 36 days has been selected. Determine the probability that the average number of loaves sold in the sample of days exceeds 80 loaves. First find the standard error of the mean. Now...
1. Over the past several months, an adult patient has been treated for tetany (severe muscle...
1. Over the past several months, an adult patient has been treated for tetany (severe muscle spasms). This condition is associated with an average total calcium level below 6 mg/dl. Recently, the patient's total calcium tests gave the following readings (in mg/dl). Assume that the population of x values has an approximately normal distribution. 10.1 8.8 10.5 8.7 9.4 9.8 10.0 9.9 11.2 12.1 (a) Use a calculator with mean and sample standard deviation keys to find the sample mean...
Over the past several months, an adult patient has been treated for tetany (severe muscle spasms)....
Over the past several months, an adult patient has been treated for tetany (severe muscle spasms). This condition is associated with an average total calcium level below 6 mg/dl. Recently, the patient's total calcium tests gave the following readings (in mg/dl). Assume that the population of x values has an approximately normal distribution. 9.3 8.4 10.5 8.7 9.4 9.8 10.0 9.9 11.2 12.1 (a) Use a calculator with mean and sample standard deviation keys to find the sample mean reading...
Over the past several months, an adult patient has been treated for tetany (severe muscle spasms)....
Over the past several months, an adult patient has been treated for tetany (severe muscle spasms). This condition is associated with an average total calcium level below 6 mg/dl. Recently, the patient's total calcium tests gave the following readings (in mg/dl). Assume that the population of x values has an approximately normal distribution. 9.3 8.4 10.3 8.5 9.4 9.8 10.0 9.9 11.2 12.1 (a) Use a calculator with mean and sample standard deviation keys to find the sample mean reading...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT