Question
In: Statistics and Probability
A forecaster would like to use the 2-period moving average method on data below to make...
A forecaster would like to use the 2-period moving average method on data below to make forecasts. Before doing this, she would like to test the performance of this method on past data. Which of the following could represent past forecasts for this method? (In the options below note that F1 represents the forecast for time period 1, and so on.) Period 1 2 3 4 5 Actual Sales 5582 5122 5755 6320 5153
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Expert Solution
A forecaster would like to use the 2-period moving average method on data below to make forecasts. Before doing this, she would like to test the performance of this method on past data. Which of the following could represent past forecasts for this method? (In the options below note that F1 represents the forecast for time period 1, and so on.)
D. F3=5352 F4 = 5438.5 F5 = 6037.5
| Data | Forecasts and Error Analysis | ||||||
| Period | Demand | Forecast | Error | Absolute | Squared | Abs Pct Err | |
| Period 1 | 5582 | ||||||
| Period 2 | 5122 | ||||||
| Period 3 | 5755 | 5352 | 403 | 403 | 162409 | 07.00% | |
| Period 4 | 6320 | 5438.5 | 881.5 | 881.5 | 777042.3 | 13.95% | |
| Period 5 | 5153 | 6037.5 | -884.5 | 884.5 | 782340.3 | 17.16% | |
| Total | 400 | 2169 | 1721792 | 38.12% | |||
| Average | 133.3333 | 723 | 573930.5 | 12.71% | |||
| Bias | MAD | MSE | MAPE | ||||
| SE | 1312.171 | ||||||
| Next period | 5736.5 |
orchestra answered 2 years agoRelated Solutions
A forecaster would like to use the 2-period moving average method on data below to make...
A forecaster would like to use the 2-period moving average
method on data below to make forecasts. Before doing this, she
would like to test the performance of this method on past data.
Which of the following could represent past forecasts for this
method? (In the options below note that F1 represents the forecast
for time period 1, and so on.)
Period
1
2
3
4
5
Actual Sales
5582
5122
5755
6320
5153
A.
F2 = 5352
F3=5352
F4...
Below is table of observed count data that you would like to use to run a...
Below is table of observed count data that you would like to use
to run a Chi Square Test of Independence. Based on data presented
would you violate any assumptions? How do you know?
Condition 1
Condition 2
Condition A
24
5
Condition B
6
7
Suppose that you are using the? four-period weighted moving average forecasting method to forecast sales and...
Suppose that you are using the? four-period weighted moving
average forecasting method to forecast sales and you know that
sales will be decreasing every period for the foreseeable future.
What of the following would be the best set of weights to use?
(listed in order from the most recent period to four periods? ago,
respectively)?
A.0.00, 0.00,? 0.00, 1.00
B.?0.25, 0.25,? 0.25, 0.25
C.?1.00, 0.00,? 0.00, 0.00
D.0.10, 0.20,? 0.30, 0.40
E. ?0.40, 0.30,? 0.20, 0.10
Suppose that you are using the? four-period weighted moving average forecasting method to forecast sales and...
Suppose that you are using the? four-period weighted moving
average forecasting method to forecast sales and you know that
sales will be decreasing every period for the foreseeable future.
What of the following would be the best set of weights to use?
(listed in order from the most recent period to four periods? ago,
respectively)?
A.0.00, 0.00,? 0.00, 1.00
B.?0.25, 0.25,? 0.25, 0.25
C.?1.00, 0.00,? 0.00, 0.00
D.0.10, 0.20,? 0.30, 0.40
E. ?0.40, 0.30,? 0.20, 0.10
Given the attached data. Answer the following questions for a 6 period moving average. MAD =...
Given the attached data. Answer the following questions for a 6
period moving average.
MAD = Average(|A-F|)
TS =SUM(A-F)/MAD
MSE = Average(A-F)2
1. Compute your forecast for period 51.
The potential answers are:
A: 4414 units.
B: 10290.67 units.
C: 8020.83 units.
D: 6324.8 units.
E: 6351.86 units.
2. Compute the MAD value for period 50.
The potential answers are:
A: 2655.35 units.
B: 3753.86 units.
C: 3892.54 units.
D: 3732.56 units.
E: 3205.7 units.
3. Compute standard deviation of...
Cost of Production Report: Average Cost Method Use the average cost method with the following data:...
Cost of Production Report: Average Cost Method
Use the average cost method with the following data:
Work in process, January 1, 7,000 units, 10% completed
$45,080
Materials added during January from Weaving Department, 132,300
units
828,198
Direct labor for January
213,267
Factory overhead for January
167,967
Goods finished during January (includes goods in process,
January 1), 129,500 units
—
Work in process, January 31, 9,800 units, 70% completed
—
Prepare a cost of production report for the Cutting Department
of...
Cost of Production Report: Average Cost Method Use the average cost method with the following data:...
Cost of Production Report: Average Cost Method
Use the average cost method with the following data:
Work in process, January 1, 4,800 units, 90% completed
$45,696
Materials added during January from Weaving Department, 90,700
units
838,975
Direct labor for January
209,953
Factory overhead for January
140,392
Goods finished during January (includes goods in process,
January 1), 88,800 units
—
Work in process, January 31, 6,700 units, 30% completed
—
Prepare a cost of production report for the Cutting Department
of...
Cost of Production Report: Average Cost Method Use the average cost method with the following data:...
Cost of Production Report: Average Cost Method
Use the average cost method with the following data:
Work in process, December 1, 7,400 units, 10% completed
$72,002
Materials added during December from Weaving Department,
139,900 units
1,322,055
Direct labor for December
340,697
Factory overhead for December
269,348
Goods finished during December (includes goods in process,
December 1), 136,900 units
—
Work in process, December 31, 10,400 units, 70% completed
—
Prepare a cost of production report for the Cutting Department
of...
Cost of Production Report: Average Cost Method Use the average cost method with the following data:...
Cost of Production Report: Average Cost Method
Use the average cost method with the following data:
Work in process, December 1, 6,700 units, 70% completed
$52,997
Materials added during December from Weaving Department,
126,600 units
972,288
Direct labor for December
239,818
Factory overhead for December
145,589
Goods finished during December (includes goods in process,
December 1), 123,900 units
—
Work in process, December 31, 9,400 units, 10% completed
—
Prepare a cost of production report for the Cutting Department
of...
1) Using a 5 period simple moving average, the forecast for period 13 will be:
Question 1 contains the actual values for 12 periods (listed in
order, 1-12). In Excel, create forecasts for periods 6-13 using
each of the following methods: 5 period simple moving average; 4
period weighted moving average (0.63, 0.26, 0.08, 0.03);
exponential smoothing (alpha = 0.23 and the forecast for period 5 =
53); linear regression with the equation based on all 12 periods;
and quadratic regression with the equation based on all 12 periods.
Round all numerical answers to two...
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