Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given in

Question:

Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given in Problem 5-15. Assume that last period's forecast for year 1 is 5,000 bags to begin the procedure.

Would you prefer to use the exponential smoothing model or the weighted average model developed in Problem 5-15? Explain your answer.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Quantitative Analysis for Management

ISBN: 978-0132149112

11th Edition

Authors: Barry render, Ralph m. stair, Michael e. Hanna

See More Books

Question Posted: Aug 31, 2012 05:44 AM

See More Questions

Would you use exponential smoothing with a smoothing constant of 0.3, a 3-year moving average, or a trend to predict the sales of Cool-Man air conditioners?. Data from Sales of Cool-Man air...
(a) Use exponential smoothing with a smoothing constant of 0.3 to forecast the registrations at the seminar given in Problem 4.10. To begin the procedure, assume that the forecast for year 1 was...
Given the following data, use exponential smoothing with Î± = 0.2 and Î± = 0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two...
What minimum force f , applied horizontally to the wheel axis, is needed to bring the wheel up to the height step h ? Tomer as the wheel radius and w as its weight. Tip: apply the equilibrium...
Matter's outstanding bond issue has a coupon rate of 10%, and it sells at a yield to maturity of 9.25%. The firm wishes to issue additional bonds to the public at face value. What coupon rate must...
Consider a program that accesses a single I/O device and compare un-buffered I/O to the use of a buffer. Show that the use of the buffer can reduce the running time by at most a factor of two.
Chase Publishing was disappointed with the financial textbook and decided to purchase the trademark from a well-known record store for $\$ 250,000$. How can the cost of the trademark be accounted for...
Metros computer system generated the following trial balance on December 31, 2011. The companys manager knows that the trial balance is wrong because it does not show any balance for Goods in Process...
$ 143 is placed in an account that earns a nominal 8 percent interest, compounded quarterly. Calculate its worth in 8 years. Use 2 decimal places for your final answer.
Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below: Overhead is applied to production on the...
In Problems 5-15 and 5-16, three different forecasts were developed for the demand for fertilizer. These three forecasts are a 3-year moving average, a weighted moving average, and a trend line....
Sales of Cool-Man air conditioners have grown steadily during the past 5 years: YEAR SALES 1 ...........450 2 ...........495 3 ...........518 4 ...........563 5 ...........584 6 ........... ? The...
Prove, by mathematical induction, that Ere + 3) =n(n- + 1) (n + 5) for all n 1. r=1
How to call an action Method on the click of a link Html . ActionLink ( " LinkName " , "ActionMethod", "Controller" ) @ Html . ActionLink ( " LinkName " , "Controller", "ActionMethod" ) @Html ....
Sentry Solutions sells security systems for $771. Sentry sources security systems from Single Source, Inc., for a variable cost of $511 per unit. What is Sentry Solutions' contribution margin in...
Question 2: Suppose there are two cups. The red cup has 3 red, 3 blue and 1 black marbles. The blue cup has 2 red, 2 blue and 2 black marbles. Suppose that each cup is equally likely to be drawn. The...
KRD Supplies Corporation provided the following information for the year: Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning Balance-Raw Materials...
Kathy and Mark Smith believe investing in their retirement is critical. Kathy began investing 2 0 % of each paycheck in a retirement account when she was 2 0 years old. She has saved four times more...
Find the area of each shaded region in Problems 1940. (Assume that given measurements are exact, and round approximate answers to the nearest tenth of a square unit.) 63 ft 120 ft
(a) Use integration by parts to show that (b) If f and g are inverse functions and f' is continuous, prove that (c) In the case where f and t are positive functions and b > a > 0, draw a diagram to...
Let $\mathcal{W}$ be the region between the sphere of radius 4 and the cube of side 1, both centered at the origin. What is the flux through the boundary $\mathcal{S}=\partial \mathcal{W}$ of a...
Use the data in Problem 4-27 to find the best quadratic regression model. (There is more than one to consider.) How does this compare to the models in Problems 4-27 and 4-28?
A sample of nine public universities and nine private universities was taken. The total cost for the year (including room and board) and the median SAT score (maximum total is 2400) at each school...
In 2008, the total payroll for the New York Yankees was $209.1 million, while the total payroll for the Tampa Bay Rays was about $43.8 million, or about one-fifth that of the Yankees. Many people...
1. Q: What is Docker? 2. Q: What is a data lake? 3. Q: What is a NoSQL database? 4. Q: What is a software development methodology? 5. Q: What is cross-platform development? 6. Q: What is Moore's Law?...
1. Q: What is virtual memory? 2. Q: What is a hash function? 3. Q: What is A/B testing? 4. Q: What is machine learning? 5. Q: What is a software patch? 6. Q: What is the difference between symmetric...
1. Q: What is RAID (Redundant Array of Independent Disks)? 2. Q: What is a digital signature? 3. Q: What is cloud storage? 4. Q: What is responsive web design? 5. Q: What is the difference between...

Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given in

Question:

Step by Step Answer:

a 03 New forecast for year 2 is last periods forecast a last periods actual demand last periods fore...View the full answer

Quantitative Analysis for Management

Students also viewed these Statistics questions