9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Q1 A product has a consistent year round demand. You are responsible for the forecast and have been tasked with experimenting with some time series analysis. Using this previous monthly demand, calculate the following forecasts for each period possible. A) 3 Period Simple moving average B) 4 Period Weighted moving average using weights of .4,.3,.2,.1, C) two-period weighted moving average with weights of .6,.4 and D) Exponential Smoothing forecast using an Alpha of .25. and a Week 1 forecast of 1000 units. Round all forecasts to whole numbers. Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Demand 1105 1068 1080 998 960 1125 960 1023 956 945 1035 1200 SMA 3 Period WMA .4,.3,.2,.1 WMA .6,.4 EXP Sm.25 1000 30 31 32 33 34 35 36 37 38 39 40 41 42 43 4 45 45 44 45 46 47 48 49 50 51 52 53 54 55 Q2 For each of the forecasts and demand below, calculate the Mean Absolute Deviation, Mean Squared Error and Mean Absolute Percent Error. Use the ABS formula for Absolute Value. NOTE: Use formulas for each calculation. Week 1 2 3 4 5 6 ANSWER Season 56 57 58 Table 2 Winter Spring Summer Fall Demand 556 598 625 Last Year 2020 Sold 615 690 610 59 Season 60 Winter 61 Spring 62 Summer Forecast 500 550 650 600 700 650 Error (e) 650 520 650 420 Q3 The Actual demand for portable BBQs from a large GTA Camping Goods chain is shown below for 2020. Calculate the Seasonal Index for last year for each of the four seasons. Use the seasonal Index to calculate the demand for each of the seasons for this coming year ( Absolute Error Table #2) based on a new ANNUAL demand of 2500 BBQs. Use two decimal places for your seasonal factor. Round your final forecasts to whole numbers. Average Seasonal Factor MAD Average Seasonal Factor Forecast MSE e^2 MAPE Abs e/A 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Q1 A product has a consistent year round demand. You are responsible for the forecast and have been tasked with experimenting with some time series analysis. Using this previous monthly demand, calculate the following forecasts for each period possible. A) 3 Period Simple moving average B) 4 Period Weighted moving average using weights of .4,.3,.2,.1, C) two-period weighted moving average with weights of .6,.4 and D) Exponential Smoothing forecast using an Alpha of .25. and a Week 1 forecast of 1000 units. Round all forecasts to whole numbers. Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Demand 1105 1068 1080 998 960 1125 960 1023 956 945 1035 1200 SMA 3 Period WMA .4,.3,.2,.1 WMA .6,.4 EXP Sm.25 1000 30 31 32 33 34 35 36 37 38 39 40 41 42 43 4 45 45 44 45 46 47 48 49 50 51 52 53 54 55 Q2 For each of the forecasts and demand below, calculate the Mean Absolute Deviation, Mean Squared Error and Mean Absolute Percent Error. Use the ABS formula for Absolute Value. NOTE: Use formulas for each calculation. Week 1 2 3 4 5 6 ANSWER Season 56 57 58 Table 2 Winter Spring Summer Fall Demand 556 598 625 Last Year 2020 Sold 615 690 610 59 Season 60 Winter 61 Spring 62 Summer Forecast 500 550 650 600 700 650 Error (e) 650 520 650 420 Q3 The Actual demand for portable BBQs from a large GTA Camping Goods chain is shown below for 2020. Calculate the Seasonal Index for last year for each of the four seasons. Use the seasonal Index to calculate the demand for each of the seasons for this coming year ( Absolute Error Table #2) based on a new ANNUAL demand of 2500 BBQs. Use two decimal places for your seasonal factor. Round your final forecasts to whole numbers. Average Seasonal Factor MAD Average Seasonal Factor Forecast MSE e^2 MAPE Abs e/A
Expert Answer:
Answer rating: 100% (QA)
Answer 1To calculate the forecasts for each period using different methods we will follow the given instructions Here are the calculations A 3 Period Simple Moving Average SMA To calculate the 3period ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these general management questions
-
A manufacturer purchases a part for use at both of its plants-one at Roseville, California, the other at Akron, Ohio. The part is available in limited quantities from two suppliers. Each supplier has...
-
Suppose 4-year-olds in a certain country average 3 hours a day unsupervised and that most of the unsupervised children live in rural areas, considered safe. Suppose that the standard deviation is 1.8...
-
Entry for Jobs Completed; Cost of Unfinished Jobs The following account appears in the ledger prior to recognizing the jobs completed in March: Work in Process Balance, March 1 Direct materials...
-
Delmott sells a snowboard, Xpert that is popular with snowboard enthusiasts. Below is information relating to Delmotts purchases of Xpert snowboards during September. During the same month, 102 Xpert...
-
What is the relationship between total product, marginal product, and average product shown by the law of diminishing returns?
-
Karen Lowry, manager of a social service agency in a midsized city in Illinois, loved to see her employees learn and grow to their full potential. When a rare opening for a supervising clerk...
-
\(P(60
-
Consider the following four LP formulations. Using a graphical approach, determine (a) Which formulation has more than one optimal solution. (b) Which formulation is unbounded. (c) Which formulation...
-
a. Share of Beta Co. are currently trading for $40 and will either rise to $50 or fall to $35 in one month. The risk-free rate for one month is 1.5 per cent. What is the value of a one-month call...
-
In the current year (year 0), Amisha became a shareholder in Sultan Inc., a calendar year S corporation, by contributing $15,000 cash in exchange for stock. Shortly before the end of the year,...
-
3 4 5 6 7 8 9 17.23% (B) 11.73% 12.73% D 13.73% Suppose your expectations regarding the stock price are as follows: B State of the Market Boom Normal Recession What is the expected mean return? n...
-
Brunswick Parts is a small manufacturing firm located in eastern Canada. The company, founded in 1 9 4 7 , produces metal parts for many of the larger manufacturing firms located in both Canada and...
-
The hardest bone in the body is tooth enamel, which has a density of 2.91 g/cm. What is the volume, in liters, of 75.9 g of tooth enamel?
-
Identifying what data is most valuable for an organization to achieve its goals using complex statistics to explain trends to an organization developing a dozen key performance indicators from...
-
A growing chain is trying to decide which store location to open. The first location (A) requires a $500,000 investment in average assets and is expected to yield annual income of $75,000. The second...
-
Can you elaborate on the significance of advanced in-situ testing techniques, such as the piezocone penetration test (CPTu) and the pressure meter test (PMT), in providing accurate geotechnical...
-
You are trying to decide between two mobile phone carriers. Carrier A requires you to pay $215 for the phone and then monthly charges of $64 for 24 months. Carrier B wants you to pay $110 for the...
-
For the next several days, take notes on your listening performance during at least a half-dozen situations in class, during social activities, and at work, if applicable. Referring to the traits of...
-
Frederick (Freddy) Freeweights (age 42) owns and operates a health club called ''Treadmills West.'' The business is located at 4321 Arnold Street, Alpine, CA 91901. Freddy had the following income...
-
Greg died on July 1, 2012, and left Lea, his wife, a $50,000 life insurance policy which she elects to receive at $5,000 per year plus interest for 10 years. In the current year, Lea receives $6,200....
-
Rebecca and Walter Bunge have been married for 5 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Rebecca is a homemaker and Walt is a high school teacher. Rebecca's Social...
-
You are trying to value the same building based on comparable properties sold in recent years. There have been six property sales of buildings of comparable size in the surrounding area. a. Estimate...
-
Cool Caf is a well-regarded restaurant in the Denver area, owned and run by Joanne Arapacio, a star chef specializing in Southwestern cuisine. You are interested in buying the restaurant and have...
-
You work for a publishing company and are considering bidding for the copyright to Cook Light, Cook Right, a cookbook of low-fat recipes. While the book was out of print last year, you believe that...
Study smarter with the SolutionInn App