Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate
Question:
Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate the optimal value of α.
a. What is the optimal value of α?
b. Prepare a line graph comparing the exponential smoothing predictions against the original data.
c. What are the forecasts for weeks 23 and 24 using this technique?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
b Exponential Week Price Smoothing alpha 0678 1 176 1760 ...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science
ISBN: 978-0324656633
5th edition
Authors: Cliff T. Ragsdale
Question Posted:
Students also viewed these Management Leadership questions
-
Assume you are forecasting with an exponential smoothing model using ( = 0.6. How much weight is placed on the most recent actual demand? How much weight is given to the demand one time period older...
-
Develop an exponential smoothing model with = 0.30 for the data in Problem 12-37 to forecast printer demand in year 11, and compare its accuracy to the linear regression forecast developed in...
-
Develop an exponential smoothing model with a = .30 for the data in Problem 40 to forecast printer demand in year 11 and compare its accuracy to the linear trend line forecast developed in (a).
-
Gothic Kings Ltd. Is a 100% owned subsidiary of Hadrian Inc. Gothic has been profitable in the past but incurred a loss for the year ended December 31, 20X3. Hadrian has indicated that if Gothic...
-
Draw a right-handed coordinate system and locate the points whose coordinates are (a) (3, 4, 5) (b) (3, - 4, 5) (c) (- 3, - 4, 5) (d) (3, 0, 3)
-
Show that the superposition of a radial velocity field and a torsional field results in a spiral flow. Sketch typical streamlines. Spiral flows are good prototypes for tornadoes. Explain why the...
-
A round concrete storm sewer pipe used to carry rainfall runoff from a parking lot is designed to be half full when the rainfall rate is a steady \(1 \mathrm{in}\)./hr. Will this pipe be able to...
-
A friend of yours can invest in a multiyear project. The cost is $14,000.Annual cash flows are estimated to be $5,000 per year for six years but could vary between $2,500 and $7,000. Your friend...
-
A well-thrown ball is caught in a well-padded mitt.If the deceleration of the ball is 2.25 x 10* m/s?, and 1.9 ms (I ms = 10-3 s) elapses from the time the ball first touches the mitt until it stops,...
-
Jimmy owns a garden in which he has planted N trees in a row. After a few years, the trees have grown up and now they have different heights. Jimmy pays much attention to the aesthetics of his...
-
Use Solver to determine the weights for a four-period weighted moving average on the data set that minimizes the MSE. a. What are the optimal values for the weights? b. Prepare a line graph comparing...
-
Use Holts method to create a model that minimizes the MSE for the data set. Use Solver to estimate the optimal values of and . a. What are the optimal values of and ? b. Are these values...
-
What solidification time is required for a casting of 9.5 cm 3 and a mold contact area of 10.0 cm 2 ? The mold constant is 838 s/cm 2 .
-
1) What is class? 2)What is the difference between default class and public class? 3)What is final class? Q)What is abstract class ? 3) What is object ? Q)Object class Q)toString() Q)Data Hiding...
-
Show the manual calculation to find V LOAD using nodal analysis, mesh analysis, superposition, source transformation, and Thevenin or Norton theorem by using the value from group no. 3 on Table 2. ...
-
Explain the following two (2) methods for conducting a cost-benefit analysis for high priority change requirements and opportunities in 50-100 words each: Return-on-investment analysis Net present...
-
Businesses have different strategies for when a country is in a recession or an upswing. Do some research within the company or in general and evaluate what your company would do when the business...
-
Karen, Tara and Chelsea buy ice cream and paperback novels to enjoy on hot summer days. Ice cream is $5 a gallon and paperback novels are $8 each. Karen has a budget of $80, Tara has a budget of $60,...
-
Which of the following records can be found at the public library? a. Telephone yellow pages b. Directories of Insurance companies, Banks, manufacturing companies, and associations c. Real estate...
-
The percentage of completion and completed contract methods are described in the FASB ASC. Search the codification to find the paragraphs covering these topics, cite them, and copy the results.
-
An example of directness, which moves swiftly into spite, is shown in Figure 5.4, where UK retailer Argos had many angry customers taking to Twitter and explaining that the traditional telephone...
-
Amanda Green is interested in investing in the following set of mutual funds whose returns are all normally distributed with the indicated means and standard deviations: The correlations between the...
-
Amanda Green is interested in investing in the following set of mutual funds whose returns are all normally distributed with the indicated means and standard deviations: The correlations between the...
-
Each year, the Schriber Corporation must determine how much to contribute to the company's pension plan. The company uses a 10-year planning horizon to determine the contribution, which, if made...
-
Solve for X. Assume X is a 2 x 2 matrix. Do not use decimal numbers in your answer. If there are fractions, leave them unevaluated. X = # 6 X+ 7 = 7 8 X. [24]*+41-41 -5
-
Perform one step of row reduction, in order to calculate the values for x and y by back substitution. Then calculate the values for x and y. Also calculate the determinant of the original matrix....
-
1 23 13 23 -3 23 23 23 23 Let A be the matrix of the quadratic form below. It can be shown that the eigenvalues of A are 6, 9, and 12. Find an orthogonal matrix P such that the change of variable x =...
Study smarter with the SolutionInn App