Use Holt-Winters additive method to create a seasonal model that minimizes the MSE for the data set.
Question:
Use Holt-Winter’s additive method to create a seasonal model that minimizes the MSE for the data set. Use Solver to determine the optimal values of α, β, and γ.
a. What are the optimal values of α, β, and γ?
b. Prepare a line graph comparing the predictions from this method against the original data.
c. What are the forecasts for the next four months using this technique?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
a 01312 00 039724 MSE 217575 b Base Seasonal Seasonal Year Month Period Demand Level Tre...View the full answer
Answered By
CHARLES AMBILA
I am an experienced tutor with more than 7 years of experience. I have helped thousands of students pursue their academic goals. My primary objective as a tutor is to ensure that students have easy time handling their academic tasks.
5.00+
109+ Reviews
323+ 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
-
Use Holt-Winters multiplicative method to create a seasonal model that minimizes the MSE for the data set. Use Solver to determine the optimal values of , , and . a. What are the optimal values of ,...
-
Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate the optimal value of . a. What is the optimal value of ? b. Prepare a line graph comparing the...
-
Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to determine the optimal value of . a. What is the optimal value of ? b. Prepare a line graph comparing the...
-
Suppose that the weight of a typical American male follows a normal distribution with = 180 lb and = 30 lb. Also, suppose 91.92% of all American males weigh more than I weigh. a. What fraction of...
-
Indicate whether the statement is always true or sometimes false. Justify your answer by giving a logical argument or a counterexample. (a) If det(A) = 0, then A is not expressible as a product of...
-
The volume of solids in a sediment sample is 975 cm 3 , and the volume of open space is 325 cm 3 . What is the porosity of the sediment? Describe what the result of your calculation means in physical...
-
True or False. Nonlinearity can be introduced into the governing differential equation through mass, springs, and/or dampers.
-
Ten weeks of data on the Commodity Futures Index are 7.35, 7.40, 7.55, 7.56, 7.60, 7.52, 7.52, 7.70, 7.62, and 7.55. a. Compute the exponential smoothing values for = 0.2. b. Compute the exponential...
-
Cooperton Mining just announced it will cut its dividend from $4.21 to $2.68 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a...
-
Prove Theorem 1.1-6. Theorem 1.1-6 If A, B, and C are any three events, then P(A B C) = P(A) + P(B) + P(C) P(A B) P(A C) P(B C) + P(A B C). Write A B C = A (B C)
-
Use the multiplicative seasonal technique for stationary data to model the data. Use Solver to determine the optimal values of and . a. What are the optimal values of and ? b. Prepare a line graph...
-
Use Holt-Winters multiplicative method to create a seasonal model that minimizes the MSE for the data set. Use Solver to determine the optimal values of , , and . a. What are the optimal values of ,...
-
The history of statistical hypothesis testing really began with a tea-tasting experiment (Fisher, 1935), so it seems fitting for this book to end with one. (This is also a fitting ending because...
-
Entrance and exit ramps for freeways are often circular stretches of road. As you go around one at a constant speed, you will experience a constant acceleration. Suppose you drive through an entrance...
-
A car coasts at a constant speed over a circular hill. Which of the free-body diagrams in Figure Q6.11 is correct? Explain. FIGURE Q6.11 A. B. C.
-
A car has a mass of 1500 kg . If the driver applies the brakes while on a gravel road, the maximum friction force that the tires can provide without skidding is about 7000 . If the car is moving at...
-
Modern wind turbines are larger than they appear, and despite their apparently lazy motion, the speed of the blades tips can be quite high-many times higher than the wind speed. A typical modern...
-
The shot put is a track-and-field event in which athletes throw a heavy ballthe shot-as far as possible. The best athletes can throw the shot as far as \(23 \mathrm{~m}\). Athletes who use the...
-
How is the key consumer benefit employed in an IMC campaign?
-
A fuel pump sends gasoline from a car's fuel tank to the engine at a rate of 5.88 10-2 kg/s. The density of the gasoline is 735 kg/m3, and the radius of the fuel line is 3.18 10-3 m. What is the...
-
John Brown Supplies sells office equipment to small and medium-sized businesses in its locality. Each sale averages a gross margin of 30, and next years budget is 100,000. Use the seven-step process...
-
A small machine shop, with 30 hp of connected load, purchases electricity under the following monthly rates (assume any demand charge is included in this schedule): First 50 kw-hr per hp of connected...
-
Two automatic systems for dispensing maps are being compared by the state highway department. The accompanying breakeven chart of the comparison of these systems (System I vs System II) shows total...
-
Mr. Sam Spade, the president of Ajax, recently read in a report that a competitor named Bendix has the following relationship between cost and production quantity: c = $3,000,000 - $18,000Q + $75Q 2...
-
Find the first derivative of the following equation: a. b. y=e3x y=e(x+1) d. y=125x+16-2x y=ln x y=ln (3x+x1) y=In (x+1)
-
The Cutting Department of Lasso Company has the following production and cost data for August. Production Costs 1. Started and completed 9,600 units. Beginning work in process $0 2. Started 2,300...
-
There is sufficient evidence to support the conclusion that a robust relationship exists between drugs and crime. Explain and discuss the studies that support this conclusion. Further explain and...
Study smarter with the SolutionInn App